1.11 Where the final rules differ from the draft in the CP in a way which is, in the opinion of the PRA, significant, the Financial Services and Markets Act 2000 (FSMA) [Sections 138J(5) and 138K(4) of FSMA.] requires the PRA to publish details of the difference together with a cost benefit analysis. Where the final rules differ from the draft in the CP the PRA is required to publish a statement setting out in the PRA's opinion whether or not the impact of the final rules is significantly different from the impact of the draft rules: (i) on mutuals; and (ii) on mutuals as compared with other PRA-authorised firms.

1.12 After considering the responses, the PRA has made the following changes to the draft rules:

- Renaming Simpler-regime Firm to SDDT (Small Domestic Deposit Taker), Simpler-regime Consolidation entity to SDDT consolidation entity, Simpler Regime to SDDT regime and Simpler regime criteria to SDDT criteria.

- Changing the modification by consent process for consolidation groups, so that the responsibility for certifying that the group meets the SDDT criteria on a consolidated basis and that the other firms in the group meet the SDDT criteria sits with the group's CRR consolidation entity, rather than the solo entity. The SDDT consolidation entity is also responsible for notifying the PRA if the SDDT criteria cease to be met on a consolidated basis or by any firms in the group.