4
Risk Concentration and Intra-Group Transactions
4.1
This Chapter applies to a firm that is a member of a financial conglomerate in respect of which a PRA financial conglomerate notification has been issued.
[Note: Art 7(2) and Art 8(2) of the Financial Groups Directive; see also Part 2 (PRA) Commission Delegated Regulation (EU) 2015/2303]
- 12/08/2022
4.2
A firm that is a member of a financial conglomerate in respect of which a financial conglomerate notification has been issued, and that is headed by a mixed financial holding company must ensure compliance with the sectoral rules, identified for these purposes in the table at 4.3, regarding risk concentration and intra-group transactions of the most important financial sector in that financial conglomerate with respect to that financial sector as a whole, including the mixed financial holding company.
[Note: Art 7(4) and Art 8(4) of the Financial Groups Directive]
- 31/12/2020
4.3
Table: application of sectoral rules
| The most important financial sector | Applicable sectoral rules | ||
|---|---|---|---|
| Risk concentration | Intra-group transactions | ||
| Banking and investment services sector |
For the banking sector and | CRR | Part Four of the CRR |
| MIFIDPRU 5 of the FCA Handbook | SYSC 12.1.12 R of the FCA Handbook | ||
| Insurance sector | Group Supervision 16.1 | Group Supervision 16.2 | |
| Note | Any waiver granted to a member of the financial conglomerate, on an individual or consolidated basis, shall not apply in respect of the financial conglomerate for the purposes of 4.2. | ||
[Note: Art 7(4) and Art 8(4) of the Financial Groups Directive]
- 12/08/2022