OpenLegislation

Section 2 Changes requiring ex ante notification to competent authorities

United Kingdom

Original text. Later amendments are not shown.

  1. 1Changes to the way the operational risk measurement system is integrated into the day-to-day management process through operational risk processes and policies according to Article 321(a) and (c) of Regulation (EU) No 575/2013, where the changes have one of the following characteristics:
  2. 2Changes in the organisational and operational structure of the independent risk management function for operational risk according to Article 321(b) of Regulation (EU) No 575/2013 if they fulfil any of the following criteria:
  3. 3Division 3
  4. 4Changes to the calculation of the operational risk capital charge which change one of the following:
  5. 5Changes to the standards relating to internal data, scenario analysis and business environment and internal control factors if they:
  6. 6Changes to the standards relating to insurance and other risk transfer mechanisms according to Article 323 of Regulation (EU) No 575/2013, if they fulfil one of the following conditions:
  7. 7Division 7