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Sharesave - Save to Buy Shares

For something special...

Last updated July 2012

 

In a nutshell

UK Sharesave is an opportunity for you to save directly from your net pay to buy Barclays shares at a discounted price (usually 20% discount). It’s safe, you can get your money back at any time and if the share price rises there is a potential for you to gain.

Save to buy shares with Sharesave.

 

Sharesave Maturity 2012

The 2005 7 year, 2007 5 year and 2009 3 year Sharesave schemes are due to mature on the 1st November 2012. Employees with a scheme due to mature will receive a letter to their home address however, for more detailed information about the maturity please refer to the Sharesave Maturity 2012 booklet

 

What do you want to know?

Step by step guide to how Sharesave works

Some good reasons to join

I have a Sharesave Plan maturing soon

Frequently asked questions

What happens if I leave?

Sharesave 2012 terms and conditions

Sharesave 2012 savings prospectus

Sharesave tax note - Jersey

Sharesave tax note - Guernsey

Historic Sharesave discounted prices and bonus rates

Sharesave invitation booklets

 


  

Step by step guide to how Sharesave works

Can I join? 

  • Invitations to join Sharesave are issued at Barclays discretion once a year. You need to be employed at the specified date (normally 1st of June) to be able to join Sharesave in a particular year. You will need to be an employee of a Group company which participates in Sharesave and a UK taxpayer*

* i.e. you are a UK employee resident in the UK on a permanent basis or have been nominated by the Board to join Sharesave. You must still be employed on the date the Sharesave award is made to be granted a Sharesave award.

How much can I save and for how long? 

  • You can save from £5 to £250 every month, in total, across all Sharesave plans, in whole pounds.
  • Your annual invitation letter will tell you how much you can save in the new plan. You can save for 3 or 5 years.

How do I join? 

  • The invitation period for Sharesave 2012 is 09:00 BST Monday 6 August to 23:45 BST Friday 31 August. Late applications will not be processed.
  • Invitation packs for Sharesave 2012 will be distributed from 15 August 2012. For Sharesave 2012 you can apply by text or phone from 6 August 2012. You can also apply online from this date if you have an existing Sharesave plan and have a record of your account number. Please see full application details in the Sharesave 2012 Invitation Booklet (click here). If you are new to Sharesave and wish to apply online please wait for your invitation pack which will include your account number.
  • You can find out the Discounted Price for Sharesave 2012 from 13 August 2012. The Discounted Price will be included in your invitation pack and published on the Home page of this website and Barclays Intranet.

Please note, if you are a US Citizen, US taxpayer or a Green Card holder there may be adverse US tax consequences for you in participating in Sharesave: In addition to income tax owed at the time you purchase your shares at the Discounted Price, you would be subject to a 20% tax (plus interest) on the third anniversary of the grant of your award under your Sharesave plan. You will be responsible for the settling of any tax which may arise in connection with your Sharesave plan under these provisions and your options and awards under other plans may also be affected.

What happens after I’ve joined?

  • In September, you receive a Sharesave certificate stating how much you are saving each month, for how long, how many shares you will be able to buy and how much they will cost.
  • Your savings will be taken from your net pay every month (starting in October).
  • You will receive a statement annually showing the amount you have saved in each Sharesave plan.

What happens at the end of the Sharesave savings period? 

We will contact you detailing what choices you have and how you can give your instructions. You can either:

  • Buy the shares at the Discounted Price and keep them; or
  • Buy the shares at the Discounted Price and sell them immediately; or
  • Just take your savings as cash, plus any tax-free bonus (if applicable to your plan).
  • You have six months from the end of the Sharesave plan to decide what to do.
  • Once you have made your choice, the Administrator will process your request and either your savings (plus bonus if applicable) will be paid to you or you will receive confirmation of your share holding.

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Some good reasons to join

It’s safe

Your money is safe. You can always get back at least what you put in*.

It’s easy

You can apply online, by text message, or by phone and your savings will be taken directly from your net pay monthly.

It’s flexible

You can save a fixed amount from as little as £5 per month, right up to £250 per month in total across all your Sharesave plans. You can choose to save for 3 or 5 years (we may also choose to offer a 7 year plan). Some plans from earlier years also receive a tax-free bonus (click here to see historic bonus rates). If necessary, you can take a break from saving for up to six months but this means you will have to save for an extra month for each payment missed at the end of your plan and wait until all payments have been made before you can buy shares at the Discounted Price.

There is potential for you to gain

You have the opportunity to buy Barclays shares at the end of your chosen savings period (3 or 5 years for Sharesave 2012) at a 20% discount to the share price at the start of your Sharesave plan (the "Discounted Price"). The Discounted Price does not change throughout your savings period. So if Barclays does well and the share price increases, your potential to gain also increases. Choosing to buy shares through Sharesave means you pay no commission, stamp duty or brokers fees.

It’s tax effective

If you sell your shares and are UK resident, any gain is free of income tax and NI and also free from capital gains tax if your total gains for the tax year do not exceed the annual HMRC exemption limit. Any applicable bonus payable on your savings is also tax-free.

Please note, if you are resident in Jersey or Guernsey, the tax implications are different to the UK. Please read the tax notes Sharesave tax notes -Jersey and Sharesave tax notes - Guernsey.

If you are a US Citizen, US taxpayer or Green Card holder there may also be adverse US tax consequences. If you decide to participate in Sharesave, in addition to income tax owed at the time you purchase your shares at the Discounted Price, you would be subject to a 20% tax (plus interest) on the third anniversary of the grant of your award under your Sharesave plan. You will be responsible for the settling of any tax which may arise in connection with your Sharesave plan under these provisions and your options and awards under other plans may also be affected.

You can always change your mind

Don’t worry if you want to come out of Sharesave. You can close your Sharesave plan and have your savings returned at any time.

All in all, Sharesave can be a great opportunity for employees to share in Barclays success.

 

*Subject to the Financial Services Compensation Scheme. Please see FAQs for further information.

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I have a Sharesave plan maturing soon?

At the end of your chosen savings period, we will contact you to explain the choices you have; you then have six months to decide. Keep an eye on the Barclays share price and decide what’s best for you.

1. Buy

Use your savings (and tax-free bonus if applicable) to buy shares

You can use your savings and any applicable bonus to buy Barclays shares at the Discounted Price set at the start of your plan. You can then hold on to the shares and choose to sell them at a later date. You will benefit from any future growth in the share price and any dividends Barclays may pay.

2. Sell

Use your savings (and tax-free bonus if applicable) to buy your shares and sell them immediately

You can use your savings and any applicable bonus to buy Barclays shares at the Discounted Price and then sell them immediately. If the sale price at the time you sell is higher than the Discounted Price, you will receive back more than you saved which will be yours to do with as you please.

3. Cash

Just have your savings back

You don’t have to buy the shares. For example, if the share price is lower than the price you have to pay, you can choose to take all of your savings and any applicable bonus as cash. You will still have six months from the maturity date to buy the shares at the Discounted Price. 

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Frequently Asked Questions

 

What is Sharesave?

Sharesave is an opportunity for you to save to buy Barclays shares at a special discounted price which is set at the start of the plan. You can save for a period of 3, 5 or 7 years directly from net pay (no 7 year plan is available for Sharesave 2012).

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Can I join?

Invitations to join Sharesave are issued at Barclays discretion once a year (usually during August). You need to be employed at the eligibility date (normally 1st of June) to be able to join Sharesave in a particular year. You will need to be an employee of a Group company which participates in Sharesave and a UK taxpayer*

You must still be employed on the date the Sharesave award is made (normally early September) to be granted a Sharesave award.

Please note, if are a US Citizen, US taxpayer or a Green Card holder there are adverse US tax consequences in participating in Sharesave. In addition to income tax owed at the time you purchase your shares at the Discounted Price, you would be subject to a 20% tax (plus interest) on the third anniversary of the award of your Sharesave plan. You will be responsible for the settling of any tax which may arise in connection with your Sharesave plan under these provisions and your options and awards under other plans may also be affected.

* i.e. you are a UK employee resident in the UK on a permanent basis or have been nominated by the Board to join Sharesave.

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Can I join more than one plan?

You can only join one plan each year, but you can join in different years as long as your total deductions across all your Sharesave plans is not more than the £250 per month limit. Barclays is not obliged to offer a Sharesave plan every year.

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How much can I save?

You can save from £5 to £250 every month, taking into account all your Sharesave plans. Please refer to your invitation pack to find out how much you can save this year.

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How and when will I make my first payment?

For each new plan, the first deduction is from your salary payable in October. Payroll will automatically deduct your chosen amount throughout the period of your Sharesave plan as long as you are being paid through UK payroll.

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How are the bonus rates set?

Sharesave bonus rates are reviewed and set by HM Treasury. Click here to view historic bonus rates.

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What's the Discounted Price?

This is the price at which you can buy Barclays shares at the end of your Sharesave plan. It is set at the beginning of each Sharesave plan and does not change. For Sharesave 2012, the Discounted Price is calculated on 10 August 2012 using the average middle market quotation of a Barclays share for a period of five consecutive dealing days commencing on the date of invitation (6 August 2012) less a 20% discount. Click here for historic Discounted Prices.

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Can I change the amount I save or the period I save for?

Once you have made your application and the invitation period has closed, you can’t change your chosen savings amount or savings period.

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Are my savings safe?

Your Sharesave savings are held with Barclays Bank Trust Company Limited and are covered by the Financial Services Compensation Scheme (“FSCS”). The FSCS can pay compensation to depositors if a bank is unable to meet its financial obligations. Most depositors are covered by the scheme and an eligible depositor is entitled to claim up to £85,000. The limit relates to the combined amount in all the eligible depositor’s accounts with the particular bank (whether related to Sharesave or any other accounts), including their share of any joint account, and not to each separate account. For further information about the scheme (including the amounts covered and eligibility to claim) please refer to the FSCS website, www.FSCS.org.uk, or call 020 7892 7300 or 0800 678 1100.

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Can I cancel my Sharesave plan and withdraw my savings?

You can cancel your plan and have your savings returned at any time. You would lose the opportunity to buy shares at the Discounted Price associated with your plan and any applicable bonus. Some plans pay interest if you have been saving for more than one year, to see if this applies to your plan please click here.

Please contact Barclays Share Plans if you wish to withdraw your savings.

 

Barclays Share Plans

Operations Department

PO Box 4766

Worthing

BN99 6HF

 

Email: employee@shareplans.barclayswealth.com

Helpline : 0871 384 2224*

(from outside of the UK +44 (0) 121 415 0154)

*calls to 0871 numbers are charged at 8p per minute if using a BT landline. Call charges may vary if using other telephone providers.

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Should I cancel previous years' savings contracts so that I can save more this year?

That’s up to you. If you cancel an existing Sharesave plan you will lose the opportunity to buy shares at the relevant Discounted Price. However, your savings will be returned to you and the amount you were saving into that plan can be added to the amount you can save into the new plan (up to a maximum total of £250 per month). Please note that plans maturing on the 1st of November 2012 do not reduce your total savings available for Sharesave 2012, cancelling one of these plans will not increase the amount you can save into Sharesave 2012. The bonus rate that applies to the new plan may be higher or lower than the plan you have cancelled. You may get early withdrawal interest and can check if this applies to the plan you wish to cancel by clicking here.

Sharesave is a short to medium term investment so you should consider the financial implications of cancelling any existing contracts.

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How do I cancel my existing Sharesave plan(s)?

During the invitation period, if you apply for Sharesave 2012 either online or via telephone, the service will give you the opportunity to cancel any Sharesave plans you currently have open.

At all other times you can cancel your plans by calling the Helpline number below or by completing the closure notice and sending it to:

 

Barclays Share Plans

Operations Department

PO Box 4766

Worthing

BN99 6HF

 

Helpline : 0871 384 2224*

(from outside of the UK +44 (0) 121 415 0154)

*calls to 0871 numbers are charged at 8p per minute if using a BT landline. Call charges may vary if using other telephone providers.

You may be asked to provide additional identification when calling the Helpline to request closure. A cheque will normally be sent to you at your home address within 10 days.

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Can I miss payments?

You can defer up to six payments and remain in the plan. If for any reason you miss more than six payments, you will lose the opportunity to buy shares, your Sharesave Plan will be cancelled and your savings will be automatically returned to you. For each payment you defer, your maturity date will be deferred by one month and you will have to make up that payment at the end of the plan. The deferred payments cannot be made up by a lump sum. This could also affect the amount you can save in a future Sharesave plan as you can’t have contributions totalling more than £250 per month at any time.

If you are applying to join Sharesave, please note that HM Treasury can change the bonus rates at any time by withdrawing the Sharesave prospectus which regulates the terms of your Sharesave plan. The bonus rates of your existing Sharesave plans will not change but if the savings prospectus that your plan relates to is withdrawn then your very first monthly contribution must be received within 3 months of the date of withdrawal of the prospectus. Failure to make the first contribution within 3 months will result in your Sharesave plan being cancelled and your participation in Sharesave terminating. We will inform you if the prospectus changes and you need to ensure that the first payment is received by the date specified in our letter.

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Can I withdraw my savings or come out of the plan at any time?

Yes, and you’ll receive all the savings you’ve made so far, plus interest if applicable. By closing your plan early, you won’t receive any applicable tax-free bonus, nor will you be able to buy shares at the Discounted Price. To see historic Sharesave bonus rates and interest details for your plan click here.

Please contact Barclays Share Plans if you wish to withdraw your savings.

 

Barclays Share Plans

Operations Department

PO Box 4766

Worthing

BN99 6HF

 

Email: employee@shareplans.barclayswealth.com

Helpline : 0871 384 2224*

(from outside of the UK +44 (0) 121 415 0154)

*calls to 0871 numbers are charged at 8p per minute if using a BT landline. Call charges may vary if using other telephone providers.

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What happens if demand is really high for Sharesave, will I get what I want?

If the total applications exceed the number of shares over which Sharesave awards may be made, applications will be scaled down. If this happens you will be notified.

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Why can't I join a 7 year plan in 2012?

We have previously offered the 7 year Sharesave plan because past years have had a tax-free bonus payable at the end of the plan giving you the opportunity of purchasing more shares at the Discounted Price. HM Treasury have issued a new prospectus effective from 1 August 2012 which applies to Sharesave 2012 and this prospectus has removed the tax-free bonus. As the amount you save into a 5 year plan and a 7 year plan is the same (60 monthly payments) you can purchase the same amount of shares by saving into a 5 year plan as a 7 year plan and we have therefore decided to remove the 7 year plan this year. There in no tax-free bonus or interest payable on any Sharesave 2012 plans.

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What happens if I take maternity leave, a career break or any other unpaid leave, or am not paid on the UK Payroll?

You will normally continue to be eligible to buy shares under Sharesave but you should note the following:

Once your pay stops or you stop being paid via the UK payroll, in normal circumstances you may:

1. Continue saving by way of a Standing Order from your bank/building society.

2. Defer up to a maximum of six payments, during the life of your Sharesave plan, then continue saving by way of a Standing Order. However, if more than six payments are missed you will lose your opportunity to buy Barclays shares under Sharesave. If you are already contributing by Standing Order, you may still defer payments by cancelling the Standing Order but you must set it up again to ensure that no more than six payments are missed. If you decide to defer any payments, the maturity date of your Sharesave savings contract will be deferred by one month for each payment missed. The deferred payments cannot be made up by a lump sum.

3. Cancel your Sharesave plan and withdraw your savings (plus any interest due if applicable to your plan) upon request to Barclays Share Plans. You will lose your opportunity to buy Barclays shares under Sharesave.

Note: Standing Order forms are available from the Barclays Share Plans Helpline on 0871 384 2224*

(from outside of the UK +44 (0) 121 415 0154).

If you are resident overseas you should consult your professional adviser about the local tax implications of participating in Sharesave.

*calls to 0871 numbers are charged at 8p per minute if using a BT landline. Call charges may vary if using other telephone providers.

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What happens if I transfer to another part of Barclays, or relocate to a group company outside of the UK, that does not participate in Sharesave?

You can continue to contribute on a monthly basis until your Sharesave plan matures and buy shares under Sharesave if you are still in employment at that time with a company which is an associated company of Barclays PLC or a company which is under the control of Barclays PLC. However, you may be unable to join any future UK Sharesave plans.

You will need to contact Barclays Share Plans to notify them and request a form to set up a Standing Order arrangement to continue your monthly payments.

 

Barclays Share Plans

Operations Department

PO Box 4766

Worthing

BN99 6HF

 

Email: employee@shareplans.barclayswealth.com

Helpline : 0871 384 2224*

(from outside of the UK +44 (0) 121 415 0154)

*calls to 0871 numbers are charged at 8p per minute if using a BT landline. Call charges may vary if using other telephone providers.

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What happens if my company gets sold out of the Group or Barclays is taken over?

If the company or the business in which you are employed is sold to a purchaser, other than a Barclays Group company, you may buy Barclays shares under Sharesave no later than six months from the sale date. You will have the right to buy shares under Sharesave if Barclays PLC is taken over, or you may be offered a replacement award by the acquiring company over its shares. You may have to pay income tax and National Insurance.

Alternatively, you can choose to not buy shares and instead either withdraw your savings and receive any interest due if applicable to your plan or continue saving to maturity and receive any applicable bonus.

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What about tax?

Under current UK tax legislation, any interest and bonuses paid on your savings are free from UK taxes and National Insurance Contributions. Normally the purchase of shares will also be free from UK taxes, but you may have to pay UK income tax if you buy shares under Sharesave before the third anniversary if, for example, Barclays is taken over or reconstructed or the company for which you work is sold outside the Barclays Group.

You may be liable to Capital Gains Tax when you sell your shares if your gain is more than the HMRC annual exemption. Under current legislation it is possible to reduce any potential capital gains tax on some or all of your shares by transferring them directly into an ISA within 90 days of purchasing the shares. Other exceptions and relief may be available to further reduce your taxable gain.

However, the UK tax legislation may have changed when you come to buy your shares at the end of the plan, or choose to sell your shares, so you should take independent advice at that time. If you are resident overseas or have worked in more than one country, you should consult your professional adviser about the local tax implications of participating in Sharesave.

If you are resident in Jersey or Guernsey, the tax implications are different to the UK. You will receive information about the tax implications in your invitation pack. Click on the links below to view the Jersey and Guernsey tax notes.

Sharesave tax note - Jersey

Sharesave tax note - Guernsey

Please note that tax legislation changes from time to time and the tax notes are valid when they are produced. We recommend you speak to your professional adviser.

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Are the rules for Sharesave Ireland and Sharesave Spain the same as UK Sharesave?

If you are resident in Spain or Ireland, please refer to your Sharesave invitation for information as some rules and conditions are different.

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Am I subject to the Group Share Dealing Code or Personal Dealing Policy when my plan matures?

When buying or selling Barclays shares you must, where the Share Dealing Code or Personal Dealing Policy requires it, seek prior permission to deal in accordance with that code or policy and comply with any Close Period restrictions. Please contact your local Compliance team to ascertain if you are affected.

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What happens when I become a shareholder once my contract has matured?

If you choose to use your savings to buy shares, you become a shareholder in Barclays. There are various benefits in being a Barclays shareholder including entitlement to any dividends Barclays may pay. For more information please go to www.barclays.com. Shares are risky investments: share prices and the income from them can fall as well as rise and you may not get back the full amount you originally invested. Investing in shares is not suitable for everyone. If you have any doubt as to whether it is suitable for you, you should obtain expert advice.

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How long after my Sharesave plan matures do I have to buy Barclays shares using my Sharesave savings?

You have six months after the maturity date to make your choice.

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What is Sharestore?

At the end of your plan, if you choose to purchase the shares at the Discounted Price, you may transfer them into Sharestore. Sharestore is a facility provided by the Registrar to Barclays where your shares are held electronically on your behalf. Sharestore is an easier way of owning and dealing with your shares, without having to worry about looking after your share certificate or filling in lots of forms. When you buy shares under Sharesave, they can be deposited in a Sharestore account on your behalf and you can then hold on to them and choose to sell them at any time. Please visit www.sharestore.barclays.co.uk for further information.

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What happens if I change my name or address?

If you have changed your address, please call Barclays Share Plans on 0871 384 2224* (or +44 (0) 121 415 0154 from overseas). Please ensure that you also notify your HR Administration Area.

Alternatively, you can complete and send us a Change of Address form which can be found here.

Please send the form to:

 

Barclays Share Plans

Operations Department

PO Box 4766

Worthing

BN99 6HF

 

Email: employee@shareplans.barclayswealth.com

 

If your name changes, please notify your HR Administration Area and Barclays Share Plans in writing, remembering to include a copy of the appropriate legal documentation.

*calls to 0871 numbers are charged at 8p per minute if using a BT landline. Call charges may vary if using other telephone providers.

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How does Sharesave compare to the UK Sharepurchase plan?

You can join both plans which have individual limits. They both give you a way of investing in Barclays shares, however there are some important differences you should know about.

Sharesave v Sharepurchase 

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Can I put employee shares into an ISA? 

Shares that you have acquired as a result of Sharesave or UK Sharepurchase can be transferred directly into an ISA without any Capital Gains liability. The transfer has to be completed within 90 days from:

  • the date you buy shares under Sharesave
  • the date the shares cease to be subject to the UK Sharepurchase.

For more information on transferring shares into an ISA, please refer to the staff home page for Investment ISAs.

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Further information

The details of the various benefit plans given on this website are only a general guide. Each plan is governed by its own set of governing rules and is subject to applicable law. If there is any conflict between this website and the rules of the relevant plan, the rules of the relevant plan plus any applicable law will apply and will over-ride this website.

 

You can contact the Barclays Share Plans team via one of the options below:

 

Telephone:

0871 384 2224* or overseas call +44(0) 121 415 0154

*calls to this number are charged at 8p per minute from a BT landline. Other telephone provider costs may vary. Lines are open from 08.30am to 5.30pm Monday to Friday.

Email Address:

employee@shareplans.barclayswealth.com

Mailing Address:

Barclays Share Plans
Operations Department
PO Box 4766
Worthing
BN99 6HF

*calls to 0871 numbers are charged at 8p per minute if using a BT landline. Call charges may vary if using other telephone providers.

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What happens if I leave Barclays?

Your reason for leaving will impact your choices, but you can always get back what you have saved.

In all leaving circumstances, you can withdraw your savings at any time or continue to save to the end of the plan to get back your savings plus any applicable bonus.

In the circumstances below* you can also use your savings to buy, at the Discounted Price, a reduced number of shares within 6 months of leaving or all of your shares within 6 months of the maturity date if this is earlier. For all other reasons including resignation when your plan has been running for less than 3 years since date of award or dismissal for misconduct, the opportunity to buy shares at the Discounted Price is terminated.

What happens if I leave Barclays 

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Historic Sharesave discounted prices and bonus rates

Historic Sharesave option prices and bonus rates 

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Sharesave invitation booklets

Sharesave 2012 Invitation booklet

Sharesave 2011 Invitation booklet

Sharesave 2010 Invitation booklet

Sharesave 2009 Invitation booklet

Sharesave 2008 Invitation booklet

Sharesave 2007 Invitation booklet

Sharesave 2006 Invitation booklet

Sharesave 2005 Invitation booklet

Sharesave 2004 Invitation booklet


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    Barclays offers wealth and investment management products and services to its clients through Barclays Bank PLC and its subsidiary companies. Barclays Stockbrokers is a trading name of Barclays Bank PLC (Registered No. 1026167 Registered VAT No. 243 8522 62) which is a member of the London Stock Exchange and ISDX. Barclays Bank PLC is registered in England and authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. The registered address is 1 Churchill Place, London E14 5HP. SAYE (Sharesave) and SIP (Share Incentive Plan) in the UK are operated by Barclays Bank Trust Company Limited. SAYE (Sharesave) in Ireland is operated by Barclays Bank PLC and administered by Barclays Bank Trust Company Limited. Barclays Share Plans is a trading name of Barclays Bank Trust Company Limited. Barclays Bank Trust Company Limited (Registered No. 920880) is a subsidiary of Barclays Bank PLC (Registered No. 1026167). Both companies are registered in England. Registered Offices: 1 Churchill Place, London E14 5HP. Both companies are authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.