PART 9C

Prudential regulation of FCA investment firms

Interpretation

Other terms used in this Part
143B
1
In this Part—
- “
authorised parent undertaking
” means a parent undertaking that—
  1. is incorporated in the United Kingdom or has its principal place of business in the United Kingdom, and
  2. is an authorised person;
- “
on a consolidated basis
” means as if all members of an FCA investment firm's group are a single FCA investment firm;
- “
Directive 2013/36/EU UK law
” means the law of the United Kingdom which was relied on immediately before
1 January 2022
to implement the capital requirements directive and its implementing measures as it has effect—
  1. on IP completion day, in the case of rules made by the FCA or the PRA under this Act, and
  2. as amended from time to time, in all other cases;
- “
EU tertiary legislation
” has the meaning given in section 20 of the European Union (Withdrawal) Act 2018;
- “
governance arrangements
” includes organisational structure, lines of responsibility and internal control mechanisms;
- “
integrity
”, in relation to the UK financial system, has the meaning given in section 1D;
- “
investment firm
” has the meaning given in Article 4(1)(2) of the capital requirements regulation;
- “
non-authorised parent undertaking
” means a parent undertaking that—
  1. is incorporated in the United Kingdom or has its principal place of business in the United Kingdom, and
  2. is not an authorised person.
2
The Treasury may by regulations make provision about the meaning of the following terms for the purposes of this Part—
- “on a consolidated basis”;
- “group”;
- “parent undertaking”;
- “subsidiary undertaking”.
3
Regulations under subsection (2) may, among other things, amend, repeal or otherwise modify provisions of this Act.
4
In this Part, references to instruments made under the capital requirements regulation include EU tertiary legislation made under that regulation which forms part of
assimilated
law.
Words in s. 143B(1) substituted (1.1.2022) by The Financial Services and Markets Act 2000 (Consequential Amendments of References to Rules) Regulations 2021 (S.I. 2021/1388), regs. 1(2), 2(2)
Word in s. 143B(4) substituted (1.1.2024) by The Retained EU Law (Revocation and Reform) Act 2023 (Consequential Amendment) Regulations 2023 (S.I. 2023/1424), reg. 1(2), Sch. para. 44(2)(c)
Pt. 9C inserted (1.7.2021) by Financial Services Act 2021 (c. 22), s. 49(5), Sch. 2 para. 1; S.I. 2021/671, reg. 4(b)