Prudential regulation of credit institutions and investment firms Investment Firms Prudential Regime Consultation and reporting requirements for FCA rulemaking
Section 138I of FSMA sets out the FCA’s consultation requirements and requires the FCA to consult the PRA and to issue a public consultation before making rules. Section 138F requires the FCA to give written notice of any rules it makes, amends or revokes to HM Treasury and the Bank of England without delay. The Act applies additional consultation and reporting requirements for the FCA when making rules to implement the IFPR.