Prudential Regulation Authority Rulebook

1.1

Unless otherwise stated, this Part applies to:

1. (1) a UK Solvency II firm;
2. (2) in accordance with Insurance General Application 3, the Society, as modified by 5;
3. (3) in accordance with Insurance General Application 3, a managing agent, as modified by 5;
4. (4) a third country branch undertaking (other than a Swiss general insurer) in relation to the activities of the third country branch that are subject to the regulatory system;
5. (4A) a third country insurance services provider in relation to the activities carried out in the UK that are subject to the regulatory system; and
6. (5) a UK ISPV, in accordance with 6.

1.1A

This Part does not apply to a SRO firm.

1.2

This Part does not apply to a small run-off firm.

1.3

In this Part, the following definition shall apply:

employee

in relation to a firm, includes any person within the description set out in section 63E(9) of FSMA.

1.3A

For the purposes of this Part, large firm includes a third country insurance services provider which would be a large firm if the amounts specified in (a) and (b) of the Glossary definition are only those amounts relating to the activities carried out in the UK by the third country insurance services provider.

1.4

This Part does not apply to a function performed by:

1. (1) a PRA approved person;
2. (1A) a person in relation to whom a notice under section 59ZZA has been given to an authorised person;
3. (2) a person who performs an FCA controlled function; or
4. (3) a non-executive director in relation to their non-executive director function.