Prudential Regulation Authority Rulebook

2.1

A firm that is not a member of a consolidation group in relation to which 2.2 or 2.3 applies must comply with this Part on an individual basis.

2.1A

If this Part applies to a firm on an individual basis, the firm must comply with the rules in this Part to the same extent and in the same manner as it is required to comply with the firm’s obligations laid down in Part Seven of the CRR.

2.2

The changes to this rule are effective from 23:00 on 31/12/2020.

A firm that is a UK parent institution must comply with this Part on the basis of its consolidated situation.

2.3

The changes to this rule are effective from 23:00 on 31/12/2020.

A firm that is controlled by a UK parent financial holding company or a UK parent mixed financial holding company for which the PRA is responsible for supervision on a consolidated basis must comply with this Part on the basis of the consolidated situation of that holding company.

2.4

A ring-fenced body must comply with this Part on an RFB sub-consolidated basis whether or not under 2.2 or 2.3 it also applies to the ring-fenced body on a consolidated basis.