Prudential Regulation Authority Rulebook

13.1

A ring-fenced body must not, as far as reasonably practicable, become income-dependent due to income generated from:

1. (1) transactions entered into with members of its group that are not ring-fenced affiliates; or
2. (2) transactions entered into with a customer, or customers, where that income is contingent, or likely to be contingent, on services continuing to be provided to that customer, or customers, by members of the ring-fenced body’s group that are not ring-fenced affiliates.