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Version status: In force | Document consolidation status: Updated to reflect all known changes
Version date: 21 September 2021 - onwards

Regulation 42 Determination of the group supervisor

(1) Where an investment firm group is headed by a Union parent investment firm in respect of which the Bank is the competent authority, the Bank shall exercise supervision on a consolidated basis or supervision of compliance with the group capital test.

(2) Where -

(a) the Bank is the competent authority in respect of an investment firm, and

(b) the parent undertaking of the investment firm is a Union parent investment holding company or a Union parent mixed financial holding company,

the Bank shall exercise supervision on a consolidated basis or supervision of compliance with the group capital test.

(3) Where -

(a) two or more investment firms authorised in two or more Member States, one of which is the State, have as their parent -

(i) the same Union parent investment holding company, or

(ii) the same Union parent mixed financial holding company, and

(b) the Bank is the competent authority in respect of the investment firm authorised in the Member State in which the investment holding company or mixed financial holding company is established,

the Bank shall exercise supervision on a consolidated basis or supervision of compliance with the group capital test.