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Application provision

1.1 Unless otherwise stated, this Part applies to a UK firm that is a PRA-authorised person

5.1

03/01/2018

A UK firm other than a pure reinsurer exercising an EEA right other than derived from the CRD or MiFID II that is required by the EEA Passport Rights Regulations to submit a notice of a change to a branch to the PRA must notify the PRA by submitting the form referred to in 10.1 (Branch Notification Form).

5.2

03/08/2015

A pure reinsurer exercising an EEA right to establish a branch in another EEA State must notify the PRA of any change in the information specified in the Branch Notification Form at 10.1. Whenever possible, this notification must be made as soon as the change in information is known by the firm.

5.3

03/01/2018

  1. (1) A UK firm that has exercised an EEA right under the CRD and established a branch in another EEA State must comply with the information requirements set out in Commission Delegated Regulation (EU) 1151/2014 and notify the PRA of a change to the branch by submitting the form in Annex I of Commission Regulation 926/2014 and the form referred to in 10.3 (Declaration) except where the change relates to a planned termination of the operation of the branch.
  2. (2) A UK firm that has exercised an EEA right under the CRD and established a branch in another EEA State and that plans to terminate the operation of the branch must comply with the information requirements set out in Commission Delegated Regulation (EU) 1151/2014 and notify the PRA by submitting the form in Annex IV of Commission Implementing Regulation 926/2014 and the form referred to in 10.3 (Declaration).

Additional Notes


[Note: Article 36(3) of CRD]

 

5.4

05/02/2018

This rule applies to a UK firm in relation to its EEA rights under MiFID II

  1. (1) A UK designated investment firm that has established a branch in another EEA State must comply with the information requirements set out in Article 7(1) of Commission Delegated Regulation (EU) 2017/1018 and notify the PRA of a change to the branch by submitting the form set out in Annex VI of Commission Implementing Regulation (EU) 2017/2382 except where the change relates to a planned termination of the operation of the branch.
  2. (2) A UK firm that uses a tied agent established in another EEA State must comply with the information requirements set out in Article 7(1) of Commission Delegated Regulation (EU) 2017/1018 and notify the PRA of a change to the particulars of the tied agent by submitting the form in Annex VII of Commission Implementing Regulation (EU) 2017/2382 except where the change relates to the cessation of the use of a tied agent.
  3. (3) A UK designated investment firm that plans to terminate the operation of a branch or that plans the cessation of the use of a tied agent, and a credit institution that plans the cessation of the use of a tied agent, must comply with the information requirements set out in Article 7(2) of Commission Delegated Regulation (EU) 2017/1018 and notify the PRA by submitting the form in Annex X of Commission Implementing Regulation (EU) 2017/2382.
  4. (4) A UK firm notifying the PRA in accordance with 5.4(1) to 5.4(3) must also submit the form referred to in 10.3 (Declaration).

Additional Notes


[Note: Article 35(10) of MiFID II]