Application provision

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

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) [deleted.]
  3. (3in a prudential context with respect to activities wherever they are carried on; and
  4. (4taking into account any activity of other members of a group of which the firm is a member.

4.1

29/12/2020

Where an Article 109 undertaking is a member of a consolidation group or a sub-consolidation group, it must ensure that the risk management processes and internal control mechanisms at the level of the consolidation group or sub-consolidation group of which it is a member comply with the obligations set out in 2.3, 2.7 and Chapter 3 on a consolidated basis or a sub-consolidated basis.

4.1A

29/12/2020

Where this Part applies on a consolidated basis or on a sub-consolidated basis, an Article 109 undertaking 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.

4.2

29/12/2020

Compliance with the obligations referred to in 4.1 must enable the consolidation group or sub-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]