Incoming Firms and Third Country Firms

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Application Provision

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1

Application and Definition

1.1

Unless otherwise stated, this Part applies only to:

  1. (1) an incoming firm; or
  2. (2) a third country firm,
  3. that is:
  4. (3) a bank; or
  5. (4) a designated investment firm.

1.2

In this Part the following definition shall apply:

means, in relation to a firm, the plan for the resolution of the firm prepared by the authority in the jurisdiction of the firm’s head office responsible for the firm’s resolution.

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2

Adequacy of Resolution Plan

2.1

This chapter applies only to a third country firm that is:

  1. (1) a bank; or
  2. (2) a designated investment firm.

2.2

A firm must take all steps within its control to ensure that its resolution plan provides adequately for the resolution of the firm’s UK branch.

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3

Branch Return

3.1

A firm must provide the PRA with information in accordance with the Branch Return Form. The information must be provided as at 30 June and 31 December each year and provided electronic means within 30 days of the date to which the information relates.

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