Prudential Regulation Authority Rulebook

1.1

Unless otherwise stated, this Part applies to:

1. (1) a CRR firm which:
1. (a) is a CRR firm responsible for consolidation; or
2. (b) is not, and does not have, an EEA parent institution or an EEA parent financial holding company; and
2. (2) a third country CRR firm in relation to its activities carried on from an establishment in the UK.

1.2

In this Part, the following definitions shall apply:

accounting reference date

means

1. (1) (in relation to a body corporate incorporated in the UK under the Companies Acts) the accounting reference date of that body corporate determined in accordance with section 391 of the Companies Act 2006; or
2. (2) (in relation to any other body) the last day of its financial year.

consolidation group entity

means an institution or financial institution which is, in relation to a CRR firm responsible for consolidation:

1. (1) the CRR firm responsible for consolidation;
2. (2) a subsidiary of the CRR firm responsible for consolidation; or
3. (3) a subsidiary of the EEA parent financial holding company or EEA parent mixed financial holding company by which the CRR firm responsible for consolidation is controlled.

CRR firm responsible for consolidation

means a CRR firm which is either:

1. (1) an EEA parent institution; or
2. (2) controlled by an EEA parent financial holding company or by an EEA parent mixed financial holding company and to which supervision on a consolidated basis applies in accordance with Article 111 of CRD.

high earner

means an employee (of any consolidation group entity) whose total annual remuneration is €1 million or more per year or its equivalent in another currency determined by reference to the conversion rate applicable to the corresponding High Earners Report under this Part.

High Earners Report

means the report by which a firm provides to the PRA the information required in Chapter 3.

material risk taker

means a member of Remuneration Code Staff, as described in SYSC 19A.3.4R.

Remuneration Benchmarking Information Report

means the report by which a firm provides to the PRA the information required in Chapter 2.

total assets

means:

1. (1) in relation to a CRR firm or an EEA Bank, its total assets as set out in its balance sheet on the relevant accounting reference date; and
2. (2) in relation to a third country CRR firm, the total assets of the third country CRR firm as set out in its balance sheet on the relevant accounting reference date that cover the activities of the branch operation in the UK.

1.3

2.1

This chapter applies to a firm to which this Part applies, which had total assets equal to or greater than £50 billion on an unconsolidated basis on the accounting reference date immediately prior to the firm’s last complete financial year.

2.2

2.3

[Note: Art. 75(1) of the CRD]

2.4

2.5

2.6

2.7

[Note: EBA/GL/2014/08]

3.1

3.2

3.3

3.4

3.5

[Note: Art. 75(3) of the CRD]

3.6

[Note: EBA/GL/2014/07]