Part

Incoming Firms and Third Country Firms

Printed on: 06/11/2024

Rulebook at: 01/07/2015

Related links

PS8/14 - Supervising international banks: the PRA's approach to branch supervision https://www.bankofengland.co.uk/prudential-regulation/publication/2014/supervising-international-banks-the-pra-approach-to-branch-supervision
PS8/15 - Supervising international banks: the Branch Return https://www.bankofengland.co.uk/prudential-regulation/publication/2015/supervising-international-banks
Financial Services and Markets Act (PRA-regulated Activities) Order 2013 (S.I. 2013/556) http://www.legislation.gov.uk/ukdsi/2013/9780111533642/contents
SS2/19 - PRA approach to interpreting reporting and disclosure requirements and regulatory transactions forms after EU withdrawal https://www.bankofengland.co.uk/prudential-regulation/publication/2019/pra-approach-to-interpreting-reporting-and-disclosure-reqs-and-reg-trans-forms-ss

Chapters

  • 1 Application and Definition
  • 2 Adequacy of Resolution Plan
  • 3 Branch Return
  • 4 Form

1

Application and Definition

1.1

Unless otherwise stated, this Part applies only to:

  1. (1) an incoming firm; or
  2. (2) a third country firm,
  3. that is:
  4. (3) a bank; or
  5. (4) a designated investment firm.
  • 05/09/2014

1.2

In this Part the following definition shall apply:

means, in relation to a firm, the plan for the resolution of the firm prepared by the authority in the jurisdiction of the firm’s head office responsible for the firm’s resolution.
  • 05/09/2014

2

Adequacy of Resolution Plan

2.1

This chapter applies only to a third country firm that is:

  1. (1) a bank; or
  2. (2) a designated investment firm.
  • 05/09/2014

2.2

A firm must take all steps within its control to ensure that its resolution plan provides adequately for the resolution of the firm’s UK branch.
  • 05/09/2014

3

Branch Return

3.1

A firm must provide the PRA with information in accordance with the Branch Return Form. The information must be provided as at 30 June and 31 December each year and provided electronic means within 30 days of the date to which the information relates.

  • 01/07/2015

4

Form

4.1

The Branch Return Form can be found here.

  • 01/07/2015