ELM 7.4 Scope of consolidation
A firm has no EEA consolidated group if the firm would be its only member or if it has no EEA financial parent undertaking.
A firm's UK consolidated group is the consolidated sub-group of:
- (1)
- (2)
(if the firm has no UK financial parent undertaking and the firm is a UK domestic firm) the firm.
A firm has no UK consolidated group if the firm would be its only member.
A firm, having given prior notice to the FSA, may exclude from its EEA consolidated group or UK consolidated group for the purposes of this chapter:
- (1)
an undertaking, the total assets of which; or
- (2)
two or more undertakings, the total of whose assets added together;
are less than the smaller of 10 million euro and 1% of the total assets of the firm.