MIFIDPRU 2.1 Application and purpose

1This chapter contains:

1. (1)

   a rule in MIFIDPRU 2.2.1R applying requirements in this sourcebook to MIFIDPRU investment firms on an individual basis;

2. (2)

   rules in MIFIDPRU 2.3 outlining the circumstances in which a MIFIDPRU investment firm may apply to the FCA for an exemption from specific requirements in this sourcebook that apply on an individual basis;

3. (3)

   rules and guidance in MIFIDPRU 2.4 which cover:

   1. (a)

      the definition of an investment firm group;

   2. (b)

      the undertakings that are included within an investment firm group; and

   3. (c)

      when and how an investment firm group may apply to the FCA for permission to use the group capital test as an alternative to the prudential consolidation requirements in MIFIDPRU 2.5;

4. (4)

   rules and guidance in MIFIDPRU 2.5 which cover the following:

   1. (a)

      when requirements in this sourcebook apply on a consolidated basis;

   2. (b)

      the circumstances in which the FCA may permit an investment firm group to disapply certain prudential consolidation requirements; and

   3. (c)

      how an investment firm group must apply obligations in this sourcebook on a consolidated basis;

5. (5)

   rules and guidance in MIFIDPRU 2.6 in relation to the group capital test; and

6. (6)

   rules and guidance in MIFIDPRU 2.7 which cover:

   1. (a)

      additional requirements and FCA supervisory powers that are relevant to a UK parent entity; and

   2. (b)

      additional requirements that are relevant to a MIFIDPRU investment firm which is a subsidiary of a UK mixed-activity holding company.