Part 1 Amendments of the Capital Requirements regulation
Financial Services Act 2021 (2021 c 22) | Legislation

SCHEDULE 1 Exclusion of Certain Investment Firms from the Capital Requirements regulation: Consequential Amendments

Section 1

Part 1 Amendments of the Capital Requirements regulation

1

The Capital Requirements Regulation is amended as follows.

2

(1)     Article 4(1) (definitions) is amended as follows.

(2)     Omit point (4) (definition of “local firmâ€).

(3)     After point (22) insert—

“(22A)     'investment holding company' means a financial institution which is not a financial holding company and whose subsidiaries—

(a)     are exclusively or mainly investment firms or financial institutions, and

(b)     include at least one investment firm;â€.

(4)     In point (26) (definition of “financial institutionâ€)—

(a)     after “including†insert “an investment firm,â€, and

(b)     after “a mixed financial holding company,†insert “an investment holding company,â€.

(5)     For point (29a) substitute—

“(29a)     'UK parent investment firm' means a parent undertaking in the United Kingdom that is an investment firm;â€.

(6)     For point (51) substitute—

“(51)     'initial capital', in relation to an institution, means the amount and types of own funds specified in rule 12.1 of the Definition of Capital Part of the PRA rulebook;â€.

(7)     In point (60) (definition of “cash assimilated instrumentâ€), after “institution†(in each place) insert “or investment firmâ€.

3

Powered by Lexis+®
 

Popular documents

LEXISNEXIS

Liquidated damages in construction contracts

Liquidated damages in construction contractsThis Practice Note explains what liquidated and ascertained damages (LADs/LDs) are and their purpose in a building contract. It considers the difference between liquidated damages and general (or unliquidated) damages and looks at the enforceability of

LEXISNEXIS

Fraud by false representation

Fraud by false representationFraud by false representationFraud by false representation applies to a broader range of conduct than the offences under the preceding legislation (the Theft Act 1968 (TA 1968)). No gain or loss need actually be made, and no deception need operate on the mind of the

LEXISNEXIS

Negligent misstatement—defences and remedies

Negligent misstatement—defences and remediesThere are a number of ways in which liability for negligent misstatement may be avoided and/or limited. For details on founding a claim of negligent misstatement, see Practice Note: Negligent misstatement—founding a claim.For guidance generally on clauses

LEXISNEXIS

Tort—the different types of tort

Tort—the different types of tortThis Practice Note identifies the main torts (bar negligence and nuisance, which are covered elsewhere in our related content) and their key characteristics. Specifically:•trespass to land•trespass to the person•privacy/defamation•liability for animals•employers'