Prudential Regulation Authority Rulebook

1.1

Unless otherwise stated, this Part applies to a CRR firm:

1. (1) with respect to the carrying on of the following from an establishment in the UK:
1. (a) regulated activities;
2. (b) activities that constitute dealing in investments as principal, disregarding the exclusion in article 15 of Regulated Activities Order;
3. (c) ancillary activities;
4. (d) in relation to MiFID business, ancillary services; and
5. (e) unregulated activities in a prudential context;
2. (2) with respect to the carrying on of passported activities by it from a branch in another EEA state;
3. (3) in a prudential context with respect to activities wherever they are carried on; and
4. (4) taking into account any activity of other members of a group of which the firm is a member.

1.1A

This Part does not apply to a firm with respect to the carrying on of benchmarking activities except to the extent that they transpose an EU instrument.

1.2

In this Part, the following definitions shall apply:

Articles 30, 31 Outsourcing Requirements

means requirements and obligations as set out in Articles 30 and 31(Outsourcing) of the MODR.

authorisation

means authorisation as an authorised person for the purposes of FSMA.

control

means control as defined in Article 1 of the Seventh Council Directive 83/349/EEC (The Seventh Company Law Directive).

listed activities

means an activity listed in Annex 1 to the CRD.

other matters

means, in relation to a requirement under the MODR, matters within the scope of 1.1 that are not within the scope of that requirement.

relevant services and activities

means regulated activities, listed activities or ancillary services.