Content Options:

Add to favourites

View Options:

More Resources:

External link Handbook Publications

You are viewing the version of the document as on 2021-09-24.

UK lead regulated firm

  1. 54
    1. a UK firm that:
      1. (a) is not part of a group that is subject to consolidated supervision by the FCA or the PRA or any other regulatory body; or
      2. (b) is part of a group that is subject to consolidated supervision by the FCA or the PRA and that group is not part of a wider group that is subject to consolidated supervision by a regulatory body other than the FCA or the PRA .
    2. For the purposes of this definition:
      1. (c) Consolidated supervision of a group of persons means supervision of the adequacy of financial and other resources of that group on a consolidated basis.
      2. (d) It is not relevant whether or not any supervision by another regulatory body has been assessed as equivalent under the CRD and UK CRR81 or the Financial Groups Directive.
      3. (e) If the group is a consolidation group or financial conglomerate of which the FCA or the PRA is lead regulator that is headed by an undertaking that is not itself the subsidiary undertaking of another undertaking the firm is a 'UK lead regulated firm'.
    3. This definition is not related to the defined term lead regulated firm.