Prudential Regulation Authority Rulebook

13.1

When the third-country branch undertaking that is authorised to operate a third-country branch in the UK redomiciles to another jurisdiction, the PRA expects a new application to be submitted for authorisation to write business as a third-country branch. This expectation applies irrespective of the country of re-domiciliation. When assessing the new authorisation application, the PRA will take a proportionate and streamlined approach depending on whether there are material differences in the third-country branch’s new application. The PRA would therefore expect the new authorisation application to focus on any changes arising from re-domiciliation.