Reset to Today

To access the FCA Handbook Archive choose a date between 1 January 2001 and 31 December 2004.

Content Options:

Add to favourites

View Options:

More Resources:

External link Handbook Publications

You are viewing the version of the document as on 2024-04-05.

Timeline guidance

Alternative versions

  2. Point in time
    2024-04-05

MIFIDPRU 5.8 Procedures to prevent investment firms from avoiding the K-CON own funds requirement

MIFIDPRU 5.8.1R

1A firm must not deliberately avoid the K-CON requirement by:

  1. (1)

    undertaking artificial transactions to close out an exposure and create a new exposure; or

  2. (2)

    temporarily transferring an exposure to another undertaking, whether within the same group or not.

MIFIDPRU 5.8.2R

1A firm must maintain systems which ensure that any closing out or transfer that is prohibited by MIFIDPRU 5.8.1R is immediately reported to the FCA in accordance with MIFIDPRU 1.1.10R2.