6
Changes to an Internal Model or Internal Model Change Policy
6.1
A firm with internal model approval must not change its internal model otherwise than in accordance with the firm’s internal model change policy as approved by the PRA.
[Note: Art. 115 of the Solvency II Directive]
- 01/01/2016
6.2
A firm’s internal model change policy must include a specification of minor and major changes to the internal model.
[Note: Art. 115 of the Solvency II Directive]
- 01/01/2016
6.3
A firm with internal model approval must not:
- (1) make any major change to its internal model; or
- (2) make any change to its internal model change policy;
without obtaining the prior approval of the PRA in accordance with the procedures set out in 3 to 5 for obtaining internal model approval.
[Note: Art. 115 of the Solvency II Directive]
- 01/01/2016