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

FCA 2013/xx
Annex B
Amendments to the Prudential sourcebook for Banks, Building Societies and
Investment Firms (BIPRU)
In this Annex, underlining indicates new text and striking through indicates deleted text,
unless otherwise stated.
1 Application
1.1 Application
1.1.1 G There is no overall application statement for BIPRU. Each chapter or section
has its own application statement. Broadly speaking however, BIPRU
applies to in the following manner:
(1) a bank; [deleted]
(2) a building society; [deleted]
(3) to a BIPRU investment firm; and
(3A)
to an IFPRU investment firm, only BIPRU 12 (Liquidity standards);
and
(4) in relation to groups containing such firms:
(a)
(b)
only BIPRU 12 (Liquidity standards) applies to the group
containing any of the firms in (3) and (3A); and
BIPRU as a whole applies to the group containing only the
firms in (3).
…
1.1.3 G In the main BIPRU only applies to a collective portfolio management
investment firmin respect of designated investment business (excluding
managing an AIF and managing a UCITS). However BIPRU 2.2 (Internal
capital adequacy standards), BIPRU 2.3 (Interest rate risk in the non-trading
book), BIPRU 8 (Group risk - consolidation) and BIPRU 11 (Disclosure)
apply to the whole of its business. [deleted]
Purpose
1.1.4 G BIPRU 1.1 implements in part the third paragraph of article 95(2) of the EU
CRR that permit the FCA to apply the Banking Consolidation Directive and
Articles 3(1)(b), 5, 9, 10 and 20 of the Capital Adequacy Directive.
Guidance on the categorisation of BIPRU investment firms
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