# Financial Services and Markets Act 2000, Section 143J: Requirement to have UK parent undertaking

Extent: E+W+S+N.I.

(1) This section applies where—
(a) two or more FCA investment firms are subsidiary undertakings of the same parent undertaking,
(b) the parent undertaking's head office is in a country or territory outside the United Kingdom, and
(c) in the FCA's opinion, the law and practice in the other country or territory does not impose requirements on the parent undertaking which have equivalent effect to requirements imposed by Part 9C rules.
(2) Where this section applies, the FCA may exercise its power under section 55L(3) to impose a requirement on the FCA investment firms to secure that a parent undertaking with its head office in the United Kingdom is established.

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Source: https://www.legislation.gov.uk/ukpga/2000/8/section/143J (the official version)
Page: https://openlegislation.uk/financial-services-and-markets-act-2000/section-143J
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.