- Latest available (Revised)
- Point in Time (01/01/2016)
- Original (As made)
Version Superseded: 29/12/2020
Point in time view as at 01/01/2016.
The Capital Requirements (Capital Buffers and Macro-prudential Measures) Regulations 2014, PART 5 is up to date with all changes known to be in force on or before 29 May 2024. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
Changes and effects yet to be applied by the editorial team are only applicable when viewing the latest version or prospective version of legislation. They are therefore not accessible when viewing legislation as at a specific point in time. To view the ‘Changes to Legislation’ information for this provision return to the latest version view using the options provided in the ‘What Version’ box above.
29. The PRA is the authority responsible for identifying O-SIIs.
30.—(1) An O-SII must be—
(a)a person with permission to carry on a regulated activity for the purposes of Part 4A of FSMA; or
(b)a person established in the United Kingdom.
(2) An O-SII must also be—
(a)an EEA parent institution;
(b)an EEA parent financial holding company;
(c)an EEA parent mixed financial holding company; or
(d)an institution.
31.—(1) In order to assess whether a particular body (“the relevant body”) is an O-SII, the PRA must base its assessment on the systemic importance of the relevant body on an individual, sub-consolidated or consolidated basis.
(2) The assessment of systemic importance must include a consideration of one or more of the following criteria—
(a)the size of the relevant body;
(b)the importance of the relevant body to economy of the United Kingdom or the European Union;
(c)the significance of the relevant body's cross-border activities; and
(d)the interconnectedness of the relevant body, or the group to which it belongs, with the financial system.
32.—(1) The PRA must provide the names of the O-SIIs it has identified to the Commission, the ESRB and EBA.
(2) The PRA must publish an up-to-date list of the names of the O-SIIs it has identified.
(3) The PRA must review its identification of O-SIIs annually and report the results of its review to the bodies concerned, the Commission, the ESRB and EBA.
33. Where a person is aggrieved at the PRA's decision that the person is, or is not, an O-SII, then the person may refer the matter to the Tribunal.
34. No O-SII may be required to maintain an O-SII buffer.
Latest Available (revised):The latest available updated version of the legislation incorporating changes made by subsequent legislation and applied by our editorial team. Changes we have not yet applied to the text, can be found in the ‘Changes to Legislation’ area.
Original (As Enacted or Made): The original version of the legislation as it stood when it was enacted or made. No changes have been applied to the text.
Point in Time: This becomes available after navigating to view revised legislation as it stood at a certain point in time via Advanced Features > Show Timeline of Changes or via a point in time advanced search.
Geographical Extent: Indicates the geographical area that this provision applies to. For further information see ‘Frequently Asked Questions’.
Show Timeline of Changes: See how this legislation has or could change over time. Turning this feature on will show extra navigation options to go to these specific points in time. Return to the latest available version by using the controls above in the What Version box.
Explanatory Memorandum sets out a brief statement of the purpose of a Statutory Instrument and provides information about its policy objective and policy implications. They aim to make the Statutory Instrument accessible to readers who are not legally qualified and accompany any Statutory Instrument or Draft Statutory Instrument laid before Parliament from June 2004 onwards.
Access essential accompanying documents and information for this legislation item from this tab. Dependent on the legislation item being viewed this may include:
This timeline shows the different points in time where a change occurred. The dates will coincide with the earliest date on which the change (e.g an insertion, a repeal or a substitution) that was applied came into force. The first date in the timeline will usually be the earliest date when the provision came into force. In some cases the first date is 01/02/1991 (or for Northern Ireland legislation 01/01/2006). This date is our basedate. No versions before this date are available. For further information see the Editorial Practice Guide and Glossary under Help.
Use this menu to access essential accompanying documents and information for this legislation item. Dependent on the legislation item being viewed this may include:
Click 'View More' or select 'More Resources' tab for additional information including: