Prudential regulation of credit institutions and investment firms The Basel III Standards Consultation and reporting requirements for PRA rulemaking
Similar to consultation requirements for the FCA, section 138J of FSMA requires the PRA to consult the FCA and to issue a public consultation before making rules. Section 138F requires the PRA to give written notice of any rules it makes, amends or revokes to HM Treasury without delay. This Act also applies additional consultation and reporting requirements for the PRA when making rules relating to the implementation of Basel.