The PRA6 will ask Solvency II firms3 seeking a grant or variation of permission to provide a scheme of operations as part of the application process (see the UK provisions which implemented5 article 18 of the Solvency II Directive). It may make a similar request to other firms3 (see SUP 6.3.25 G). Firms which have submitted such a scheme of operations are3 not required to submit to the PRA6 a further scheme of operations under this appendix unless SUP App 2.8 or the relevant parts of PRA Rulebook: Non-Solvency II firms: Run Off Operations or PRA Rulebook: Solvency II firms: Run Off Operations apply4. SUP 6 Annex 4 does, however, apply to such a firm.623
Status: Please note you should read all Brexit changes to the FCA Handbook and BTS alongside the main FCA transitional directions. Where these directions apply the 'standstill', firms have the choice between complying with the pre-IP completion day rules, or the post-IP completion day rules. To see a full list of Handbook modules affected, please see Annex B to the main FCA transitional directions.
SUP App 2.10.1GRP