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

FCA 2013/xx
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8.3.14 G The financial holding company identified in BIPRU 8.3.12G may be a
parent financial holding company in a Member State. This is illustrated by
example 2 of BIPRU 8 Annex 3G (Examples of how to identify a non-EEA
sub-group).
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8.3.16 G Similarly if there is more than one financial holding company that holds a
participation in the third country banking or investment services
undertaking in accordance with BIPRU 8.3.12G(2)(b) then the sub-group of
each such financial holding company is a potential non-EEA sub-group.
8.3.17 G The firm should apply the process in BIPRU 8.3.12G to a third country
banking or investment services undertaking even though it may be also be
part of a potential non-EEA sub-group under BIPRU 8.3.7G.
8.3.18 G Having identified potential non-EEA sub-groups for each third country
banking or investment services undertaking in its UK consolidation group
the firm should then eliminate overlapping potential non-EEA sub-groups in
the following way. If:
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(2) the third country banking or investment services undertakings in the
two potential non-EEA sub-groups are the same;
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8.3.19 G If there is a chain of three or more potential non-EEA sub-groups, each with
the same third country banking or investment services undertakings, the
elimination process may remove all but the highest. This is illustrated in
example three in BIPRU 8 Annex 3G (Examples of how to identify a non-
EEA sub-group). In this example there are four potential non-EEA subgroups
and the elimination process results in just one remaining (the one
headed by the UK parent financial holding company in a Member State).
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8.3.21 G Examples four and five in BIPRU 8 Annex 3G (Examples of how to identify
a non-EEA sub-group) show how the same group may contain two non-EEA
sub-groups even though the smaller potential non-EEA sub-group is part of
a bigger one. The reason for there being two non-EEA sub-groups in these
examples is that one of the third country banking or investment services
undertakings is not a member of both potential non-EEA sub-groups.
[deleted]
8.3.22 G If a UK consolidation group is headed by a parent financial holding
company in a Member State the result of the elimination process may be that
a firm's UK consolidation group contains only one non-EEA sub-group and
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