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Application provision

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.



Where a firm is a member of a consolidation group, the firm must ensure that the risk management processes and internal control mechanisms at the level of the consolidation group of which it is a member comply with the obligations set out in 2.1, 2.6, Chapter 5 and Chapter 6 of this Part on a consolidated basis.



If this Part applies to a firm on a consolidated basis or on a sub-consolidated basis, the firm must carry out consolidation to the same extent and in the same manner as it is required to comply with the obligations laid down in Parts Two to Eight of the CRR on a consolidated basis or sub-consolidated basis.



Compliance with the obligations referred to in 7.1 must enable the consolidation group 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. 

Additional Notes

[Note: Art 109(2) of the CRD]