UK’s Prudential Regulation Authority reveals approach to consultation

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The Bank of England and the Financial Services Authority on February 27 published a document explaining the Prudential Regulation Authority's (PRA) approach to consultation. The note was in response to a request from the UK government for further explanation on the topic.

The document stated that the overall approach of the PRA will be that it is accountable to the public and to parliament, and not to regulated firms or their representatives for the delivery of its public policy objectives.

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