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Application provision

4.1 This Chapter applies to a firm that is a member of a financial conglomerate in respect of which a PRA financial conglomerate notification has been issued.

[Note: Art 7(2) and Art 8(2) of the Financial Groups Directive]

4.1

01/01/2016

This Chapter applies to a firm that is a member of a financial conglomerate in respect of which a PRA financial conglomerate notification has been issued.

Additional Notes


[Note: Art 7(2) and Art 8(2) of the Financial Groups Directive]

4.2

01/01/2016

A firm that is a member of a UK regulated EEA financial conglomerate headed by a mixed financial holding company must ensure compliance with the sectoral rules, identified for these purposes in the table at 4.3, regarding risk concentration and intra-group transactions of the most important financial sector in that financial conglomerate with respect to that financial sector as a whole, including the mixed financial holding company.

Additional Notes


[Note: Art 7(4) and Art 8(4) of the Financial Groups Directive]

4.3

01/01/2016

Table: application of sectoral rules

The most important financial sectorApplicable sectoral rules
 Risk concentrationIntra-group transactions
Banking and investment services sector CRR Part Four of the CRR
Insurance sector Group Supervision 16.1 Group Supervision 16.2
Note Any waiver granted to a member of the financial conglomerate, on an individual or consolidated basis, shall not apply in respect of the financial conglomerate for the purposes of 4.2.

Additional Notes


[Note: Art 7(4) and Art 8(4) of the Financial Groups Directive]