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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