On 28 August 2015, the PRA issued a consultation paper on its approach to EIOPA's (a) second set of Solvency II Implementing Technical Standards, (b) draft Guidelines on Systems of Governance and (c) draft Guidelines on Own Risk and Solvency Assessment (ORSA). The paper contains a draft PRA supervisory statement and commentary on various aspects of the Guidelines (in particular, on reporting requirements). Responses are invited by 30 September 2015.