Prudential Regulation Authority Rulebook

1.1

Unless otherwise stated, this Part applies to a CRR firm;

1. (1) with respect to the carrying on of the following from an establishment in the UK:
1. (a) regulated activities;
2. (b) activities that constitute dealing in investments as principal, disregarding the exclusion in article 15 of Regulated Activities Order;
3. (c) ancillary activities;
4. (d) in relation to MiFID business, ancillary services; and
5. (e) unregulated activities in a prudential context;
2. (2) with respect to the carrying on of passported activities by it from a branch in another EEA state;
3. (3) in a prudential context with respect to activities wherever they are carried on; and
4. (4) taking into account any activity of other members of a group of which the firm is a member.

1.1A

2.1 to 2.8 do not apply to a firm with respect to the carrying on of benchmarking activities except to the extent that they transpose an EU instrument.

1.2

In this Part, the following definitions shall apply:

Article 21 Organisational Requirements

means requirements and obligations as set out in Article 21(1)(a),(c),(e),(f),(3),(4) (General Organisational Requirements) of the MODR.

Article 25 Senior Management Requirements

means requirements and obligations as set out in Article 25 (Responsibility of senior management) of the MODR.

other matters

means, in relation to a requirement under the MODR, matters within the scope of 1.1 that are not within the scope of that requirement.

protected disclosure

means a qualifying disclosure as defined in section 43B of the Employment Rights Act 1996 made by a worker in accordance with sections 43C to 43H of the Employment Rights Act 1996.

reportable concern

means a concern held by any person in relation to the activities of a firm, including:

(a) any matter that, if disclosed, would be the subject-matter of a protected disclosure, including a breach of any rule;

(b) a failure to comply with the firm’s policy and procedures; and

(c) behaviour that has or is likely to have an adverse effect on the firm’s reputation or financial well-being.

worker

has the meaning as defined by section 230(3) of the Employment Rights Act 1996 and as extended under section 43K of the Employment Rights Act 1996.

1.3

In this Part, a reference to a provision of the Employment Rights Act 1996 includes a reference to the corresponding provision of the Employment Rights (Northern Ireland) Order 1996.