CP13/6 - CRD IV for Investment Firms - Financial Conduct Authority

FCA 2013/xx
individual basis if it meets the following conditions:
(1) it is not an ILAS BIPRU firm; and
(2) it is not a significant IFPRU firm.
Exemption from Part Six of EU CRR on consolidated basis
7.1.6 R For the purpose of article 11(3) of the EU CRR, a FCA consolidation group
that meets the condition in IFPRU 7.1.7R is exempt from compliance with
the obligations in Part Six of the EU CRR (Liquidity) on a consolidated basis.
7.1.7 R The members of the FCA consolidation group comprise only firms that meet
the conditions in IFPRU 7.1.5R.
8 Prudential consolidation and large exposures
8.1 Prudential consolidation
Application
8.1.1 R (1) This section applies to an IFPRU investment firm, unless it is an
exempt IFPRU commodities firm and the conditions in (2) are met.
(2) The conditions are:
(a)
(b)
(c)
(d)
(e)
article 493 of the EU CRR applies to it;
the exempt IFPRU commodities firm is a member of a FCA
consolidation group or non-EEA sub-group that:
the FCA consolidation group or non-EEA sub-group in (2)(b)
does not contain any credit institution or designated investment
firm;
each investment firm in the FCA consolidation group or non-
EEA sub-group in 2(b) meets the conditions in article 493 of
the EU CRR; and
any investment firm in the FCA consolidation group or non-
EEA sub-group in 2(b) whose head office is outside the EEA
would have been a firm to whom the ISD would not have
applied if it had remained in force in the form it was in on 31
December 2006 if:
(i)
(ii)
its head office had been in an EEA State; and
It had carried on all its business in the EEA and had
obtained whatever authorisations for doing so were
required under the ISD in the form that directive was in
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