✓ Correct answer: A. Large deposit-taking institutionsThe PRA supervises deposit-taking institutions such as banks and building societies because their potential failure carries systemic risks for the broader financial system.
Why the other options are incorrect:
• Independent financial advisers: Independent financial advisers are authorised and supervised by the FCA, not the PRA.
• Data protection consultancies: Data protection consultancies fall within the jurisdiction of the Information Commissioner's Office, not the PRA.
• Retail mortgage brokers: Mortgage brokers are conduct-regulated by the FCA, not prudentially supervised by the PRA.
• Insurance claims management firms: Claims management companies are regulated by the FCA for conduct purposes, not by the PRA for prudential purposes.
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Theory