The Credit Institutions and Investment Firms (Miscellaneous Definitions) (Amendment) Regulations 2026

Financial Services and Markets Act 2000

10.—(1) Section 192O (interpretation)(1) is amended as follows.

(2) Subsection (1) is amended as set out in paragraphs (3) to (6).

(3) For the definition of “consolidated situation” substitute—

““consolidated situation” has the meaning given in the glossary of the PRA Rulebook;”.

(4) Omit the definitions of—

(a) “designated investment firm”;

(b) “financial holding company”;

(c) “financial institution”;

(d) “investment firm”;

(e) “mixed financial holding company”.

(5) In the definition of “institution”, for “an investment firm” substitute “a Part 4A investment firm”.

(6) At the appropriate places insert—

““UK parent financial holding company” means a financial holding company which—

(a)

is incorporated in, or formed under the law of, any part of the United Kingdom, and

(b)

is not—

(i)

the subsidiary of a UK authorised person which is a credit institution or a designated investment firm, or

(ii)

the subsidiary of a financial holding company or of a mixed financial holding company which is incorporated in, or formed under the law of, any part of the United Kingdom;”;

““UK parent mixed financial holding company” means a mixed financial holding company which—

(a)

is incorporated in, or formed under the law of, any part of the United Kingdom, and

(b)

is not—

(i)

the subsidiary of a UK authorised person which is a credit institution or a designated investment firm, or

(ii)

the subsidiary of a financial holding company or of a mixed financial holding company which is incorporated in, or formed under the law of, any part of the United Kingdom.”.

(7) After subsection (1) insert—

“(1A) For the purposes of the definitions of “UK parent financial holding company” and “UK parent mixed financial holding company” in this section, “UK authorised person” means an authorised person which is incorporated in, or formed under the law of, any part of the United Kingdom.”.

(8) In subsection (2)(a), omit “, within the meaning given in Article 4(1)(30) and 4(1)(32) respectively of the capital requirements regulation”.

(1)

Section 192O was inserted by S.I. 2020/1406. The definition of “consolidated situation” was inserted by S.I. 2021/1376. There are other amending instruments but none is relevant.