(1) After section 192J of FSMA 2000 insert -
"Rules applying to parent undertakings of ring-fenced bodies
192JA Rules applying to parent undertakings of ring-fenced bodies
(1) The appropriate regulator may make such rules applying to bodies corporate falling within subsection (2) as appear to the regulator to be necessary or expedient for the group ring-fencing purposes.
(2) A body corporate falls within this subsection if -
(a) it is incorporated in the United Kingdom or has a place of business in the United Kingdom,
(b) it is a parent undertaking of a ring-fenced body, and
(c) it is not itself an authorised person.
(3) The "group ring-fencing purposes" are the purposes set out in section 142H(4).
(4) "The appropriate regulator" means -
(a) in relation to the parent undertaking of a ring-fenced body that is a PRA-authorised person, the PRA;
(b) in any other case, the FCA.
Rules requiring parent undertakings to facilitate resolution
192JB Rules requiring parent undertakings to facilita
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