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

branch

  1. 53
    1. (a) (in relation to a credit institution):
      1. (i) a place of business which forms a legally dependent part of a credit institution and which carries out directly all or some of the transactions inherent in the business of credit institutions;
      2. (ii) for the purposes of the CRD and in accordance with article 38 of the CRD, any number of places of business set up in the same EEA State by a credit institution with headquarters in another EEA State are to be regarded as a single branch;
    2. (b) (in relation to an investment firm):
      1. (i) a place of business other than the head office which is a part of an investment firm, which has no legal personality and which provides investment services and/or activities and which may also perform ancillary services for which the firm has been authorised70;
      2. (ii) all the places of business set up in the same EEA State by an investment firm with headquarters in another EEA State are regarded as a single branch;
      [Note: article 4(1)(30)70 of MiFID]
    3. (c) (in relation to an insurance undertaking) any permanent presence of the insurance undertaking in an EEA State other than that in which it has its head office is to be regarded as a single branch, whether that presence consists of a single office which, or two or more offices each of which:
      1. (i) is managed by the insurance undertaking's own staff; or
      2. (ii) is an agency of the insurance undertaking; or
      3. (iii) is managed by a person who is independent of the insurance undertaking, but has permanent authority to act for the insurance undertaking as an agency would.
    4. (d) (in relation to an IDD insurance intermediary):73
      1. (i) a place of business which is a part of an IDD insurance intermediary73, not being the principal place of business, which has no separate legal personality and which provides insurance distribution73 for which the IDD insurance intermediary73 has been registered;
      2. (ii) for the purposes of the IDD73, all the places of business set up in the same EEA State by an IDD insurance intermediary73 with headquarters in another EEA State are to be regarded as a single branch;73
      3. (iii) an agency or permanent presence of an IDD insurance intermediary in a Host State that is equivalent to a branch is to be regarded as a branch, unless the intermediary lawfully sets up such permanent presence in another legal form.73
      [Note: articles 2(1)(12) and 6(1) of the IDD]73
    5. (e) (in relation to an IDD reinsurance intermediary73
      1. (i) a place of business which is a part of an IDD reinsurance intermediary73, not being the principal place of business, which has no separate legal personality and which provides reinsurance distribution73 for which the IDD reinsurance intermediary73 has been registered;
      2. (ii) for the purposes of the IDD73, all the places of business set up in the same EEA State by an IDD reinsurance intermediary73 with headquarters in another EEA State are to be regarded as a single branch;73
      3. (iii) an agency or any permanent presence of an IDD reinsurance intermediary in the territory of a Host State that is equivalent to a branch is to be regarded as a branch, unless the intermediary lawfully sets up such permanent presence in another legal form.73
      [Note: articles 2(1)(12) and 6(1) of the IDD] 73
    6. (f) (in relation to an EEA UCITS management company):
      1. (i) a place of business which is a part of an EEA UCITS management company, which has no separate legal personality and which provides the services for which the EEA UCITS management company has been authorised;
      2. (ii) for the purposes of the UCITS Directive, all the places of business set up in the same EEA State by an EEA UCITS management company with headquarters in another EEA State are to be regarded as a single branch.
    7. (g) (in accordance with regulation 2(1) of the Payment Services Regulations) (in relation to a payment institution, a registered account information service provider or an EEA registered account information service provider71) a place of business of such a payment service provider71, other than its head office, which forms a legally dependent part of such a provider71 and which carries out directly all or some of the services71 inherent in its business. For the purposes of the Payment Services Regulations, all places of business set up in the same EEA State other than the United Kingdom by such a payment service provider71 are to be regarded as a single branch.[Note: article 4(39)71 of the Payment Services Directive]
    8. (h) (in relation to a person carrying on auction regulation bidding) a branch.
    9. (i) (in relation to an AIFM)
      1. (i) a place of business which is a part of an AIFM that has no legal personality and provides the services for which the AIFM has been authorised;
      2. (ii) for the purpose of (i), all places of business established in the same EEA State by an AIFM with its registered office in another EEA State shall be regarded as a single branch.
      [Note: article 4(1)(c) of AIFMD]