Related provisions for GENPRU 3.1.9
1 - 6 of 6 items.
If the Part 4A permission of a firm contains a requirement obliging it to comply with this rule with respect to a third-country banking and investment group of which it is a member, it must comply, with respect to that third-country banking and investment group, with the rules in Part 2 of GENPRU 3 Annex 2, as adjusted by Part 3 of that annex.
2These Regulations implement in part the Financial Conglomerates Directive,25 which imposes certain procedural requirements on the FCA as a competent authority under the Directive. These Regulations also make specific provision about the exercise of certain supervisory powers in relation to financial conglomerates. 25 Directive 2002/87/EC
A firm does not have to give notice to the FCA2 under SUP 15.9.1 R if it or another member of the consolidation group has already given notice of the relevant fact to:44(1) the FCA2 or44(2) (if another competent authority is co-ordinator of the financial conglomerate ) that competent authority; or(3) (in the case of a financial conglomerate that does not yet have a co-ordinator ) the competent authority who would be co-ordinator under Article 10(2) of the Financial Groups Directive
In considering whether to grant (or consent to, as the case may be)25 a firm's application to vary its Part 4A permission or impose or vary a requirement, the regulator concerned will also have regard, under section 55R(1)25 of the Act (Persons connected with an applicant), to any person6 appearing to be, or likely to be, in a relationship with the firm which is relevant. The Financial Groups Directive Regulations make special consultation provisions where the regulator is exercising