Related provisions for CONC 8.7.7

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CASS 6.2.5RRP
A firm may only6 register or record legal title to its own applicable asset6 in the same name as that in which legal title to a client's6safe custody asset2 is registered or recorded if the firm'sapplicable asset is separately identified from the client'ssafe custody asset in the firm's records, and either or both of the conditions in (1) and (2) are met.6262(1) The firm's holding of its own applicable asset arises incidentally to:66(a) designated investment business it carries
CASS 6.2.11ERP
(1) 6Taking reasonable steps in CASS 6.2.10R (4) includes following this course of conduct:(a) determining, as far as reasonably possible, the correct contact details for the relevant client;(b) writing to the client at the last known address either by post or by electronic mail to inform it: (i) of the name of the firm with which the client first deposited the safe custody asset in question; (ii) of the firm's intention to pay the safe custody asset to charity under CASS 6.2.10
CASS 6.2.14RRP
6Where a firm divests itself of a client'ssafe custody asset under CASS 6.2.10 R, it must comply with either (1)(a) or (1)(b) and, in either case, (2).(1) (a) The firm must unconditionally undertake to pay to the client concerned a sum equal to the value of the safe custody asset at the time it was liquidated or paid away in the event of the client seeking to claim the safe custody asset in future.(b) The firm must ensure that an unconditional undertaking in the terms set out
ICOBS 3.2.8RRP
The requirements relating to the placing and receipt of orders do not apply to contracts concluded exclusively by exchange of e-mail or by equivalent individual communications.[Note: article 10(4) and 11(3) of the E-Commerce Directive]
COLL 7.4.1GRP
(1) This section deals with the circumstances and manner in which an AUT is to be wound up or a sub-fund of an AUT is to be terminated. Under section 256 of the Act (Requests for revocation of authorisation order), the manager or trustee of an AUT may request the FCA to revoke the authorisation order in respect of that AUT. Section 257 of the Act (Directions) gives the FCA the power to make certain directions.(2) The termination of a sub-fund under this section will be subject
COLL 7.4.2AGRP

1This table belongs to COLL 7.4.1 G (4) (Explanation of COLL 7.4)

Summary of the main steps in winding up an AUT or terminating a sub-fund under FCArules

Notes: N = Notice to be given to the FCA under section 251 of the Act.

E = commencement of winding up or termination

W/U = winding up

FAP = final accounting period (COLL 7.4.5 R (4))

Step number

Explanation

When

COLLrule (unless stated otherwise)

1

Receive FCA approval

N + one month

On receipt of notice from the FCA

Section 251 of the Act

2

Normal business ceases; notify unitholders

E

7.4.3R

3

Trustee to realise and distribute proceeds

ASAP after E

7.4.4R(1) to (5)

4

Send annual long report of manager and trustee to the FCA

Within 4 months of FAP

7.4.5R(5)

5

Request FCA to revoke relevant authorisation order

On completion of W/U

7.4.4R(6)
COLL 7.4.3RRP
(1) Upon the happening of any of the events or dates referred to in (2) and not otherwise:1(a) COLL 6.2 (Dealing), COLL 6.3 (Valuation and pricing) and COLL 5 (Investment and borrowing powers) cease to apply to the AUT or to the units and scheme property in the case of a sub-fund;1(b) the trustee must cease to issue and cancel1units, except in respect of the final cancellation under COLL 7.4.4 R (1) or (2);11(c) the manager must cease to sell and redeem units; (d) the manager
CASS 10.1.5GRP
(1) The rules in this chapter specify the types of documents and records that must be maintained in a firm'sCASS resolution pack and the retrieval period for the pack. The firm should maintain the component documents of the CASS resolution pack in order for them to be retrieved in accordance with CASS 10.1.7 R, and should not use the retrieval period to start producing these documents.(2) The contents of the documents that constitute the CASS resolution pack will change from time
CASS 10.1.6RRP
For the purpose of this chapter, a firm will be treated as satisfying a rule in this chapter requiring it to include a document in its CASS resolution pack if a member of that firm'sgroup includes that document in its own CASS resolution pack, provided that:(1) that group member is subject to the same rule; and(2) the firm is still able to comply with CASS 10.1.7 R.
CASS 10.1.14RRP
The individual to whom responsibility for CASS operational oversight has been allocated under CASS 1A.3.1 R, CASS 1A.3.1A R1 or, as the case may be, CASS 1A.3.1CR (2)1, must report at least annually to the firm'sgoverning body in respect of compliance with the rules in this chapter.
COLL 5.8.1RRP
(1) 2This section applies to:(a) the authorised fund manager of a feeder UCITS;(b) the depositary of a feeder UCITS; and(c) an ICVC which is a feeder UCITS;where the scheme is a UCITS scheme.(2) Where this section refers to a rule or guidance in COLL 5.1 to COLL 5.5 , those rules and guidance, and any rules and guidance to which they refer, must be read as if a reference to a UCITS scheme were a reference to a feeder UCITS.(3) Where the sub-fund of a UCITS scheme is a feeder UCITS,
COLL 5.8.3RRP
A feeder UCITS may hold up to 15% in value of the scheme property in one or more of the following:(1) cash or near cash in accordance with COLL 5.5.3 R (Cash and near cash);(2) derivatives and forward transactions which may be used only for the purposes of hedging and in accordance with the rules set out at COLL 5.8.7 R (Other provisions applicable to a feeder UCITS); and(3) (for an ICVC) movable and immovable property which is essential for the direct pursuit of the business.[Note:
COLL 5.8.7RRP
The following rules and guidance in COLL 5.1 (Introduction), COLL 5.2 (General investment powers and limits for UCITS schemes) and COLL 5.5 (Cash, borrowing, lending and other provisions) apply to the authorised fund manager of a UCITS scheme which is a feeder UCITS and to an ICVC which is a feeder UCITS:(1) COLL 5.1.1 R (Application), COLL 5.1.2G (1) (Purpose) and COLL 5.1.3 R (Treatment of obligations);(2) COLL 5.2.1 R (Application), COLL 5.2.2 R (Table of application) and
SUP 10C.15.8RRP
SUP 10C.15.7D also applies to the forms and other documents listed in the table in SUP 10C.15.10R that are submitted under a rule.
SUP 10C.15.11RRP
(1) An application or submission by a firm made under this rule must be made by submitting the form or document online at fca.org.uk using the FCA's and PRA'sonline notification and application system6.(2) A firm must use the version of the form or document made available on the electronic system referred to in (1). If the form or document is included in an Annex to this chapter, that electronic version is based on the version found in the applicable Annex to this chapter 6(which
SUP 10C.15.14RRP
(1) An application or submission by a firm made under this rule must be made in the way set out in SUP 15.7.4R to SUP 15.7.9G (Form and method of notification).(2) If the form or document is included in an Annex to this chapter, a6firm must use the version of the form or document found in the applicable Annex to this chapter 6(which are listed in SUP 10C.15.3G).
SUP 12.2.10GRP
All rules in SUP 12 apply in relation to introducer appointed representatives except for:(1) SUP 12.4.2 R, SUP 12.4.5B R and SUP 12.4.5C, on the appointment of appointed representatives, which are replaced by SUP 12.4.6 R;5(2) SUP 12.5.6A R on required contract terms, which is replaced by SUP 12.5.7 R; and5(3) SUP 12.9.1 R (4) (Record keeping).5
SUP 12.2.14GRP
(1) A representative is an individual who is appointed by a firm or an appointed representative, to carry on any of the activities in (1)(a) to (c):54(a) advising on investments;5(b) arranging (bringing about) deals in investments;5(c) dealing in investments as agent.5(2) If a firm appoints an appointed representative who is an individual in (1), that appointed representative will also be a representative. The individual may need to be approved to perform the customer function9,
SUP 12.2.17GRP
(1) 20 A MiFID optional exemption appointed representative is a person who acts for and under the responsibility of a MiFID optional exemption firm. Such appointed representatives are not also tied agents since they do not act on behalf of a MiFID investment firm in respect of MiFID business.(2) Unless otherwise provided, this chapter applies to a firm that appoints a MiFID optional exemption appointed representative in the same way as it applies to the appointment of any other
SUP 12.2.18GRP
(1) 20 If a MiFID investment firm or a third country investment firm appoints a person to act under its full and unconditional responsibility but only for the purpose of selling, or advising clients in relation to, structured deposits (and not any of the activities within article 4(1)(29) of MiFID), that person will not be a tied agent in respect of that activity.(2) Unless otherwise provided, this chapter applies to a firm that appoints a structured deposit appointed representative
SYSC 3.1.7RRP
2When complying with the competent employees rules, a firm must take into account the nature, scale and complexity of its business and the nature and range of financial services and activities undertaken in the course of that business.
SYSC 3.1.8GRP
2The Training and Competence sourcebook (TC) contains additional rules and guidance relating to specified retail activities undertaken by a firm.
SYSC 3.1.10GRP
2If a firm requires employees who are not subject to a qualification 7 requirement in TC7 to pass a relevant examination from the list of appropriate qualifications 8maintained by the FCA8, the appropriate regulator will take that into account when assessing whether the firm has ensured that the employee satisfies the knowledge component of the competent employees rule.78878778
IFPRU 2.1.4GRP
This section has rules requiring a firm to identify and assess risks to its ability to meet its liabilities as they fall due, how it intends to deal with those risks, and the amount and nature of financial resources that the firm considers necessary. IFPRU 2.2.43 R (Documentation of risk assessment) provides that a firm should document that assessment. The FCA will review that assessment as part of its own assessment of the adequacy of a firm's capital under its supervisory review
IFPRU 2.1.5GRP
This section has rules requiring a firm to carry out appropriate stress tests and scenario analyses for the risks it has previously identified and to establish the amount of financial resources and internal capital needed in each of the circumstances and events considered in that analyses. The FCA will consider, as part of its SREP, whether the firm should hold a capital planning buffer and the amount and quality of that buffer. The capital planning buffer is an amount separate,
IFPRU 2.1.6GRP
1This section has rules on the individual, sub-consolidated basis and consolidated basis application of:(1) the ICAAP rules in IFPRU 2.2.45R to IFPRU 2.2.49R (Level of application: ICAAP rules);(2) the risk control rules in IFPRU 2.2.58R to IFPRU 2.2.60R (Level of application: risk control rules); and(3) the overall financial adequacy rule in IFPRU 2.2.61R to IFPRU 2.2.63R (Level of application: overall financial adequacy rule).
DISP 1.10.1-AGRP
A firm with only a limited permission to whom DISP 1.10.1R(1) and (2) do not apply is required to submit information to the FCA about the number of complaints it has received in relation to credit-related activities under the reporting requirements in SUP 16.12 (see, in particular, data item CCR007 in SUP 16.12.29CR). A firm with limited permission to whom DISP 1.10.1R (1) and (2) do not apply is also subject to the complaints data publication rules in DISP 1.10A.10618
DISP 1.10.1ARRP
A firm must not include in the report a complaint that has been forwarded in its entirety to another respondent under the complaints forwarding rules.10111
DISP 1.10.9RRP
For the purpose of inclusion in the public record maintained by the FCA, a firm must:10(1) provide the FCA, at the time of its authorisation, with details of a single contact point within the firm for complainants; and10(2) notify the FCA of any subsequent change in those details when convenient and, at the latest, in the firm's next report under the complaints reporting rules.10
SYSC 4.7.5RRP
(1) [deleted] Editor’s note: The text of this provision has been moved to SYSC 24.2.1R]66(2) [deleted]66(3) [deleted]6(4) [deleted]66(5) [deleted] Editor’s note: The text of this provision has been moved to SYSC 24.2.3R(1)]6(6) [deleted] Editor’s note: The text of this provision has been moved to SYSC 24.2.3R(2)]66(7) [deleted] Editor’s note: The text of this provision has been moved to SYSC 24.2.4R]6
SYSC 4.7.7RRP

[deleted] [Editor’s note: The text of this provision has been moved to SYSC 24.2.6R]6

SYSC 4.7.8RRP
(1) [deleted] Editor’s note: The text of this provision has been moved to SYSC 26.3.1R]6(2) [deleted] Editor’s note: The text of this provision has been moved to SYSC 26.4.2R]6(3) [deleted] Editor’s note: The text of this provision has been moved to SYSC 26.3.4R]6
LR 14.3.15RRP
1(1) This rule applies to an overseas company for whom the United Kingdom is a host Member State for the purposes of the Transparency Directive.11(2) An overseas company must appoint a registrar in the United Kingdom if:11(a) there are 200 or more holders resident in the United Kingdom; or1(b) 10% of more of the shares4 are held by persons resident in the United Kingdom.14
LR 14.3.17RRP
A company2 must notify a RIS as soon as possible (unless otherwise indicated in this rule) of the following information relating to its capital:2(1) any proposed change in its capital structure including the structure of its listeddebt securities, save that an announcement of a new issue may be delayed while marketing or underwriting is in progress;(2) [deleted]11(3) any redemption of listedshares4 including details of the number of shares4 redeemed and the number of shares4 of
LR 14.3.22GRP
1A company2, whose securities are admitted to trading on a regulated market, should consider its obligations under DTR 4 (Periodic financial reporting), DTR 5 (Vote holder and issuer notification rules) and DTR 6 (Access to information).2
SYSC 9.1.-2GRP

5For a common platform firm:

  1. (1)

    the MiFID Org Regulation applies, as summarised in SYSC 1 Annex 1 3.2G, SYSC 1 Annex 1 3.2-AR and SYSC 1 Annex 1 3.2-BR; and

  2. (2)

    the rules and guidance apply as set out in the table below:

    Subject

    Applicable rule or guidance

    General requirements

    SYSC 9.1.1AR

    6Specific requirements for insurance distribution

    SYSC 9.1.2AR, SYSC 9.1.2DR

    Guidance on record-keeping

    SYSC 9.1.2BG,6SYSC 9.1.4G, SYSC 9.1.5G, SYSC 9.1.6G, SYSC 9.1.6AG6
SYSC 9.1.-1GRP
5For a MiFID optional exemption firm and a third country firm:(1) the rules and guidance in this chapter apply to them as if they were rules or as guidance in accordance with SYSC 1 Annex 1 3.2CR(1); and(2) those articles of the MiFID Org Regulation in SYSC 1 Annex 1 2.8AR and 3.2CR apply to them as if they were rules or as guidance in accordance with SYSC 1 Annex 1 3.2CR(2).
SYSC 9.1.4GRP
Subject to any other record-keeping rule in the Handbook, the records required under the Handbook should be capable of being reproduced in the English language on paper. Where a firm is required to retain a record of a communication that was not made in the English language, it may retain it in that language. However, it should be able to provide a translation on request. If a firm's records relate to business carried on from an establishment in a country or territory outside the
CONC 8.7.1GRP
(1) The distance marketing rules in CONC 2.6, including the right to cancel in CONC 11, apply to firms with respect to distance contracts which are credit agreements, consumer hire agreements and agreements the subject matter of which comprises, or relates to, debt counselling, debt adjusting, providing credit information services and providing credit references. CONC 11 excludes various credit agreements from the right to cancel.(2) Where a consumer uses the right to cancel under
CONC 8.7.2RRP
A firm must ensure that the obligations of the customer in relation to the amount, or the timing of payment, of its fees or charges:(1) do not have the effect that the customer pays all, or substantially all, of those fees in priority to making repayments to lenders in accordance with the debt management plan; and(2) do not undermine the customer's ability to make (through the firm acting on the customer's behalf) significant repayments to the customer'slenders throughout the
BIPRU 7.11.3RRP
(1) When calculating the PRR of the protection seller, unless specified differently by other rules and subject to (2), the notional amount of the credit derivative contract must be used. For the purpose of calculating the specific riskPRR charge, other than for total return swaps, the maturity of the credit derivative contract is applicable instead of the maturity of the obligation.4(2) When calculating the PRR of the protection seller, a firm may choose to replace the notional
BIPRU 7.11.10RRP
A second-asset-to-default credit derivative creates a position for the notional amount in an obligation of each reference entity less one (that with the lowest specific riskPRR requirement). If the size of the maximum credit event payment is lower than the PRR requirement under the method in the first sentence of this rule, this amount may be taken as the PRR requirement for specific risk.
BIPRU 7.11.13RRP
(1) BIPRU 7.11.14R - BIPRU 7.11.17R relate to specific riskPRR for trading bookpositions hedged by credit derivatives for the purposes of the calculation of the securities PRR.(2) A firm may take an allowance for protection provided by credit derivatives for the purposes in (1) in accordance with the principles set out in the rules referred to in (1).(3) [deleted]44
SYSC 4.8.6RRP
[deleted] 5
SYSC 4.8.9RRP

[deleted] 5

SYSC 4.8.10RRP
(1) [deleted] [Editor’s note: The text of this provision has been moved to SYSC 26.3.2R(1)]5(2) [deleted] [Editor’s note: The text of this provision has been moved to SYSC 26.3.2R(2)]5(3) [deleted] [Editor’s note: The text of this provision has been moved to SYSC 26.3.2R(3)]5(4) [deleted] [Editor’s note: The text of this provision has been moved to SYSC 26.3.3R]5(5) [deleted]5(6) [deleted] [Editor’s note: The text of this provision has been moved to SYSC 26.4.3R]5(7) [deleted
SUP 16.1.1EDRP
39The rules, directions and guidance in SUP 16.22 apply to a payment service provider located in the UK other than: (1) a credit union;(2) National Savings and Investments; and(3) the Bank of England.
SUP 16.1.3RRP

Application of different sections of SUP 16 (excluding49 SUP 16.13, SUP 16.15, SUP 16.16 and SUP 16.17) 426639and SUP 16.2239)27

8889999

(1) Section(s)

(2) Categories of firm to which section applies

(3) Applicable rules and guidance

SUP 16.1,SUP 16.2andSUP 16.3

All categories of firm except:

Entire sections

(a)

an ICVC;

(b)

an incoming EEA firm or incoming Treaty firm, which is not:

(i)

a firm of a type to which SUP 16.6 or 20SUP 16.1220 applies; or

(ii)

an insurer with permission to effect or carry out life policies49; orcarry outlife policies; or

(iii)3

a with to establish, operate or wind up a stakeholder pension scheme;14a firm with permission to establish, operate or wind up a personal pension scheme or a stakeholder pension scheme;14 or39

39(iv)

a payment service provider to which SUP 16.22 applies; and

(c)

a UCITS qualifier.

SUP 16.4 and SUP 16.52

All categories of firm except:

Entire sections

(-a)

a credit union;2

(a)

an ICVC;

(b)

an incoming EEA firm;

(c)

an incoming Treaty firm;

(d)

a non-directive friendly society;

(e)4

[deleted]4

(f)

a sole trader;

(g)

a service company;

(h)

a UCITS qualifier;8

8

(i)8

a firm with permission to carry on only retail investment activities;8

(ia)38

a firm with permission only to advise on P2P agreements (unless that activity is carried on exclusively with or for professional clients);38

(j)8

a firm with permission to carry on only insurance mediation activity, home finance mediation activity,16 or both;8

16

(ja)30

an FCA-authorised person with permission to carry on only credit-related regulated activity;

48(jb)

a firm with permission to carry on only regulated claims management activities;

(k)8

a firm falling within a combination of (i), (ia), (j), (ja) and (jb)48.

303830

46(l)

a firm with permission to carry on only the regulated activity of administering a benchmark;

SUP 16.6

Bank

27

SUP 16.6.4 R to SUP 16.6.5 R

41

41

36

41

41

2628

41

28

41

28

Depositary of an authorised fund41

SUP 16.6.6R to SUP 16.6.11R41

33SUP 16.7A

A firm subject to the requirement in SUP 16.7A.3 R or SUP 16.7A.5 R

Sections as relevant

SUP 16.8

Insurer with permission to effect or carry out life policies, unless it is a non-directive friendly society3

Entire section

3Firm with permission to establish, operate or wind up a personal pension scheme or a stakeholder pension scheme14

14

Entire section3

SUP 16.95

Firm with permission to advise on investments; arrange (bring about) deals in investments; make arrangements with a view to transactions in investments; or arrange safeguarding and administration of assets5

Entire section5

SUP 16.109

All categories of firm except:9

Entire section9

(a)9

an ICVC;9

(b)9

a UCITS qualifier; 21and42

(c)9

[deleted]42

219

21(d)

a dormant account fund operator.

32SUP 16.11

(1)

A firm, other than a managing agent, which is:

(a)

a home finance provider; or

Entire section

(b)

an insurer; or

Entire section

(c)

the operator of a regulated collective investment scheme or an investment trust savings scheme; or

Entire section

(d)

a person who issues or manages the relevant assets of the issuer of a structured capital-at-risk product; or

Entire section

(e)

a firm with permission to enter into a regulated credit agreement as lender in respect of high-cost short-term credit or home credit loan agreements; or

(2)

a firm in whom the rights and obligations of the lender under a regulated mortgage contract are vested.

The provisions governing performance data reports in SUP 16.11 and SUP 16 Annex 21

17SUP 16.12

A firm undertaking the regulated activities as listed in SUP 16.12.4 R, unless exempted in SUP 16.12.1 G

Sections as relevant to regulated activities as listed in SUP 16.12.4 R23

232425SUP 16.14

A CASS large firm and a CASS medium firm

Entire section29

29SUP 16.18

A full-scope UK AIFM and a small authorised UK AIFM

SUP 16.8.3 R

34SUP 16.20

An IFPRU 730k firm and a qualifying parent undertaking that is required to send a recovery plan, a group recovery plan or information for a resolution plan to the FCA43.

Entire Section

40SUP 16.23

A firm subject to the Money Laundering Regulations and within the scope of SUP 16.23.1R

Entire Section

47SUP 16.23A

A firm undertaking the regulated activities in SUP 16.23A.1R, including all incoming EEA firms or incoming Treaty firms (including those providing cross border services and undertaking the same activities)

Entire section

43SUP 16.24

A firm with permission to effect or carry out contracts of insurance in relation to life and annuitycontracts of insurance45 to the extent that the firm and its business falls within the scope of SUP 16.24.1R.

Entire Section

48SUP 16.25

A firm with permission to carry on regulated claims management activities.

Entire section

27Note 2 :43 = The application of SUP 16.13 is set out under SUP 16.13.1 G;66 the application of SUP 16.15 is set out under SUP 16.15.1 G; the application of SUP 16.16 is set out SUP 16.16.1 R and SUP 16.16.2 R and the application of SUP 16.17 is set out in SUP 16.17.3 R and SUP 16.17.4 R66.

66

29Note 3 :43 = The application of SUP 16.18 for the types of AIFMs specified in SUP 16.1.1C G is set out in SUP 16.18.2 G.
SUP 16.1.4GRP
(1) This chapter contains requirements to report to the FCA37 on a regular basis. These requirements include reports relating to a firm's financial condition, and to its compliance with other rules and requirements which apply to the firm. Where the relevant requirements are set out in another section of the Handbook, this chapter contains cross references. An example of this is financial reporting for insurers and friendly societies.6666(2) Where such requirements already apply
MCOB 5A.3.10RRP
(1) Whenever a firm provides a consumer with information specific to the amount that the consumer wants to borrow on a particular MCD regulated mortgage contract, following an assessment of the consumer's needs and circumstances to comply with MCOB 4.7A.2 R, it must give, clearly and prominently, the following information:(a) the same information on the firm's product range as is required by MCOB 4.4A.1 R, MCOB 4.4A.2 R and MCOB 4.4A.4R (1) (which require firms to provide information
MCOB 5A.3.11GRP
To demonstrate compliance with MCOB 5A.3.10R (1), a firm may wish to consider, for example, doing one or more of the following actions: (1) giving the messages to the consumer in a durable medium;(2) building the requirements into the firm's training of staff, as evidenced by its training and compliance manuals;(3) insert appropriate prompts into paper-based or automated sales systems;(4) having procedures to monitor compliance by its staff with that rule.What is required in each
MCOB 5A.3.12RRP
(1) Whenever, as part of an execution-only sale (or potential execution-only sale), a consumer provides a firm with the information in MCOB 4.8A.14R (1), MCOB 4.8A.14R (2) or (3), the firm must inform the consumer, clearly and prominently, that the consumer has the right to request an ESIS for any MCD regulated mortgage contract which the firm is able to offer the consumer.(2) A firm need not give the information in (1) if it has previously given that information in compliance
BIPRU 8.6.1BRRP
3A firm must notify the appropriate regulator in writing of the intention of another member of its group which is not a firm to issue a capital instrument which the firm intends to include within its capital resources or the consolidated capital resources of its UK consolidation group or non-EEA sub-group as soon as it becomes aware of the intention of the groupundertaking to issue the capital instrument. When giving notice, a firm must:(1) provide details of the amount of capital
BIPRU 8.6.5GRP
The rules in GENPRU 2.2 (Capital resources) on what tier two capital and tier three capital can be used for also apply under this section.
BIPRU 8.6.10RRP
(1) This rule sets out how to determine whether minority interests in an undertaking in a UK consolidation group or non-EEA sub-group may be included in tier one capital, tier two capital or tier three capital for the purpose of calculating consolidated capital resources (each referred to as a "tier" of capital in this rule).(2) A firm must identify the item of capital of the undertaking in question that gives rise to that minority interest.(3) A firm must include the minority