(1) This regulation applies where a credit institution or relevant investment firm authorised in another EEA state has established a branch in the United Kingdom.
(2) The relevant regulator may make a request to the competent authority of the home EEA state or, where appropriate, to the EEA consolidated supervisor (in which case a copy of the request shall be sent to the competent authority of the home EEA state), for the branch to be designated as significant.
(3) A request made under paragraph (2) must include reasons for considering the branch to be significant with particular regard to -
(a) the likely impact of a suspension or closure of the operations of the credit institution or investment firm on market liquidity and the payment, clearing and settlement systems in the United Kingdom;
(b) the size and importance of the branch in terms of the number of clients within the context of the banking or financial system of the United Kingdom; and
(c) in relation to a branch of a cr