Regulation 2 Amendment of Commission Delegated Regulation (EU) 2015/35

(1)

Commission Delegated Regulation (EU) 2015/35 of 10 October 2014 supplementing Directive 2009/138/EC of the European Parliament and of the Council on the taking-up and pursuit of the business of insurance and reinsurance is amended as follows.

(2)

In Article 1 (definitions)^f1, after paragraph 58 insert—

“58A.

‘PRA’ means the Prudential Regulation Authority;”.

(3)

In Article 257 (requirements for investments in securitisations that no longer comply with the risk-retention and qualitative requirements)^f2—

(a)

in paragraphs 1 and 2, for “supervisory authority” substitute “PRA”; and

(b)

in paragraph 5 for “undertaking’s system of governance as referred to in Article 37(1)(c)” substitute “standards of governance laid down in Title 1, Chapter IV, Section 2”.

Annotations

Footnotes

f1: Article 1 was amended by S.I. 2019/[xxxx].
f2: Paragraphs 1 and 2 of Article 257 were replaced by Commission Delegated Regulation (EU) 2018/1221, Article 1(8).