Related provisions for GENPRU 3.1.29A
1 - 4 of 4 items.
2These Regulations implemented3 in part the Financial Conglomerates Directive,25 which imposed3 certain procedural requirements on the FCA as a competent authority under the Directive. These Regulations also made3 specific provision about the exercise of certain supervisory powers in relation to financial conglomerates. 25 Directive 2002/87/EC
1If the appropriate regulator2, in the course of carrying on supplementary supervision of a financial conglomerate, is considering exercising its powers under section 138A2 of the Act (Modification or waiver of rules), regulation 4 of the Financial Groups Directive Regulations contains special provisions. The appropriate regulator2 must, in broad terms, do two things. Where required by those regulations, it must obtain the consent of the relevant competent authorities of the group.