Before issuing any notice of deficiencies under section
243.8(b), determining to impose requirements or restrictions under
section 243.9(a), or issuing a divestiture order pursuant to section
243.9(c) with respect to a covered company that is likely to have
a significant impact on a functionally regulated subsidiary or a depository
institution subsidiary of the covered company, the Board—
(a)
Shall consult with each Council member that primarily supervises any
such subsidiary; and
(b) May consult with any other Federal,
state, or foreign supervisor as the Board considers appropriate.
