Article 11 General treatmentX1
United Kingdom
F2UK parent institutions shall comply, to the extent and in the manner set out in Article 18, with the obligations laid down in F3Parts Two and Three on the basis of their consolidated situation. The parent undertakings and their subsidiaries that are subject to this Regulation shall set up a proper organisational structure and appropriate internal control mechanisms in order to ensure that the data required for consolidation are duly processed and forwarded. In particular, they shall ensure that subsidiaries not subject to this Regulation implement arrangements, processes and mechanisms to ensure proper consolidation.
For the purpose of ensuring that the requirements of this Regulation are applied on a consolidated basis, the terms ‘institution’, F4‘UK parent institution’ and ‘parent undertaking’, as the case may be, shall also refer to:
a financial holding company or mixed financial holding company approved in accordance with Article 21a of Directive 2013/36/EU F5UK law;
a designated institution controlled by a parent financial holding company or parent mixed financial holding company where such a parent is not subject to approval in accordance with Article 21a(4) of Directive 2013/36/EU UK law;
a financial holding company, mixed financial holding company or institution designated in accordance with point (d) of Article 21a(6) of Directive 2013/36/EU UK law.
The consolidated situation of an undertaking referred to in point (b) of the first subparagraph of this paragraph shall be the consolidated situation of the parent financial holding company or the parent mixed financial holding company that is not subject to approval in accordance with Article 21a(4) of Directive 2013/36/EU UK law. The consolidated situation of an undertaking referred to in point (c) of the first subparagraph of this paragraph shall be the consolidated situation of its parent financial holding company or parent mixed financial holding company.
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F10In addition to the requirements of paragraphs 1 to 3, the competent authority may require an institution to comply with the obligations mentioned in the third sub-paragraph on a sub-consolidated basis when—
it is justified for supervisory purposes by the specificities of the risk or the capital structure of the institution, or
the institution is a ring-fenced body within the meaning of section 142A(1) of FSMA.
The application of the approach set out in the first subparagraph shall be without prejudice to effective supervision on a consolidated basis. F11... F12The obligations mentioned in this sub-paragraph are those provided for in—
Parts F13Two and Three of this Regulation;
Directive 2013/36/EU UK law which implemented Title 7, Chapter 4 of Directive 2013/36/EU.
Annotations
Textual amendments
- F1
- F2
Words in Art. 11(1) substituted (31.12.2020) by The Securities Financing Transactions, Securitisation and Miscellaneous Amendments (EU Exit) Regulations 2020 (S.I. 2020/1385), regs. 1(3), 74(2)(a)
- F3
Words in Art. 11(1) substituted (1.1.2022) by S.I. 2021/1078, reg. 4(5)(a) (as substituted by The Financial Services Act 2021 (Prudential Regulation of Credit Institutions and Investment Firms) (Consequential Amendments and Miscellaneous Provisions) Regulations 2021 (S.I. 2021/1376), regs. 1(2), 32(2)(b)(i))
- F4
Words in Art. 11(2) substituted (31.12.2020) by The Securities Financing Transactions, Securitisation and Miscellaneous Amendments (EU Exit) Regulations 2020 (S.I. 2020/1385), regs. 1(3), 74(2)(b)(i)
- F5
Words in Art. 11(2) inserted (31.12.2020) by The Securities Financing Transactions, Securitisation and Miscellaneous Amendments (EU Exit) Regulations 2020 (S.I. 2020/1385), regs. 1(3), 74(2)(b)(ii)
- F6
- F7
Regulation revoked (1.1.2024 for the revocation of Art. 92b, 1.1.2026 for the revocation of Arts. 6(1a), 11(3a), 12a, 18(1) (in part), 25-35, 37-47, 47a(1)(2), 47c-79a, 81(1)(a)(i)-(iic)(b)(c)(2), 82(a)(i)-(iic)(b)(c), 83-91, 92a, 466, 468, 469a, 471, 473-474, 476, 479, 480, 482-491, 494-494b, otherwise prosp.) by Financial Services and Markets Act 2023 (c. 29), s. 86(3), Sch. 1 Pt. 1 (with s. 1(4)); S.I. 2023/779, reg. 5(b)(i); S.I. 2025/873, reg. 4(b) (with regs. 6, 7) (as amended by S.I. 2025/1293, reg. 2)
- F8
Art. 11(4) omitted (1.1.2022) by virtue of The Capital Requirements Regulation (Amendment) Regulations 2021 (S.I. 2021/1078), regs. 1(1), 4(5)(b)
- F9
Art. 11(5) omitted (31.12.2020) by virtue of The Securities Financing Transactions, Securitisation and Miscellaneous Amendments (EU Exit) Regulations 2020 (S.I. 2020/1385), regs. 1(3), 74(2)(e)
- F10
Words in Art. 11(6) substituted (31.12.2020) by The Securities Financing Transactions, Securitisation and Miscellaneous Amendments (EU Exit) Regulations 2020 (S.I. 2020/1385), regs. 1(3), 74(2)(f)(i)
- F11
Words in Art. 11(6) omitted (31.12.2020) by virtue of The Securities Financing Transactions, Securitisation and Miscellaneous Amendments (EU Exit) Regulations 2020 (S.I. 2020/1385), regs. 1(3), 74(2)(f)(ii)
- F12
Words in Art. 11(6) inserted (31.12.2020) by The Securities Financing Transactions, Securitisation and Miscellaneous Amendments (EU Exit) Regulations 2020 (S.I. 2020/1385), regs. 1(3), 74(2)(f)(iii)
- F13
Words in Art. 11(6)(a) substituted (1.1.2022) by S.I. 2021/1078, reg. 4(5)(c) (as substituted by The Financial Services Act 2021 (Prudential Regulation of Credit Institutions and Investment Firms) (Consequential Amendments and Miscellaneous Provisions) Regulations 2021 (S.I. 2021/1376), regs. 1(2), 32(2)(b)(ii))