On 11 August 2014, the PRA published a detailed consultation paper on transposing the Solvency II Directive in the UK. The paper sets out proposed changes to the PRA's rulebook in order to achieve this. The proposed new rules, draft guidance (set out in a number of supervisory statements) and UK-specific reporting templates and log files are contained in the appendices to the paper. Comments are invited on the current consultation paper until 7 November 2014. The PRA indicates that this consultation is only a first step in relation to implementation of Solvency II, and confirms that it expects to introduce further measures in order to implement it.