Prudential Regulation Authority Rulebook

1.1

This Part applies to a CRR firm that is a member of a group.

1.2

This Part does not apply to a firm in relation to the regulated activity of bidding in emissions auctions (article 24A of the Regulated Activities Order) where it is carried on by way of business by a MiFID investment firm (other than a UCITS investment firm, as defined in the FCA Handbook) in relation to a financial instrument.

1.3

In this Part, the following definitions shall apply:

group

means, in relation to a person ("A"), A and any person:

1. (1) within the scope of section 421 of the Act;
2. (2) who has an Article 12(1) relationship with A;
3. (3) who has an Article 12(1) relationship with any person in (1);
4. (4) who is a subsidiary undertaking of a person in (2) or (3); or
5. (5) whose omission from an assessment of the risks to A of A's connection to any person coming within (1) to (4) or an assessment of the financial resources available to such persons would be misleading.

1.4

Unless otherwise defined in this Part, any italicised expression used in this Part and in the CRR has the same meaning as in the CRR.