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IFPRU 10.6 Application on an individual and consolidated basis

Application on an individual basis

IFPRU 10.6.1 R RP

This chapter applies to a firm on an individual basis, whether or not it also applies to the firm on a consolidated basis or sub-consolidated basis.

Application on a consolidated basis

IFPRU 10.6.2 R RP

A firm that is a UK parent institution1 must comply with this chapter on the basis of its consolidated situation.

IFPRU 10.6.3 R RP

A firm controlled by a UK parent financial holding company1 or a UK parent mixed financial holding company1 must comply with this chapter on the basis of the consolidated situation of that holding company in the FCA consolidation group.

Sub-consolidation of entities in third countries

IFPRU 10.6.4 R RP

A firm that is a subsidiary must apply this chapter on a sub-consolidated basis if the firm, or the parent undertaking where it is a financial holding company or mixed financial holding company, have an institution or financial institution as a subsidiary in a third country or hold a participation in such an institution or financial institution.

[Note: articles 129(1) (part) and 130(1) (part) of CRD]

Extent and manner of prudential consolidation

IFPRU 10.6.5 G RP

If this chapter applies to a firm on a consolidated basis on a sub-consolidated basis, the firm must carry out consolidation to the extent and in the manner prescribed in Part One, Title II, Chapter 2, Section 2 (Methods for prudential consolidation) and Section 3 (Scope of prudential consolidation) of the UK CRR2 and IFPRU 8.1 (Prudential consolidation).