4
Groups
4.1
[Deleted.]
- 29/12/2020
4.2
A firm that is a member of a group must:
- (1A) comply with this Part on an individual basis;
- (1B) comply, and ensure that the other members of the group comply, with the obligations set out in this Part on a consolidated basis or sub-consolidated basis including those members of the group established in a country or territory which is not in the UK;
- (1) ensure that the risk management processes and internal control mechanisms of the other members of the group of which it is a member comply with the obligations set out in this Part on a consolidated basis or sub-consolidated basis including those members of the group established in a country or territory which is not in the UK; and
- (2) ensure that compliance with (1A), (1B) and (1) enables the members of the group of which it is a member to have arrangements, processes and mechanisms that are consistent and well integrated and that any data relevant to the purpose of supervision can be produced.
[Note: Arts. 92(1) and 109 of the CRD]
[Note: CRD]
- 31/12/2020
4.3
Subject to 4.4, for the purposes of the application of 4.2(1B), (1) and (2) on a consolidated basis, firm includes a PRA approved parent holding company, a PRA designated parent holding company, a PRA approved intermediate holding company, a PRA designated intermediate holding company, or a PRA designated institution.
- 29/12/2020
4.4
For the purposes of the application of 4.2(1B), (1) and (2) in respect of the obligation to comply, and ensure other members of the group comply, with Chapter 16 on a consolidated basis, firm does not include a PRA approved parent holding company, a PRA designated parent holding company, a PRA approved intermediate holding company, or a PRA designated intermediate holding company.
[Note: Art. 109 of the CRD]
- 29/12/2020