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  • CET1 Deductions - significant investment in a Relevant Entity

    • PRU 3.10.13

      For the purposes of Rules 3.10.7(g) and (h), an investment by an Authorised Person in a Relevant Entity must be considered as a significant investment if it meets any of the following conditions:

      (a) the Authorised Person owns more than 10% of the CET1 Capital instruments issued by that entity;
      (b) the Authorised Person has Close Links with that entity and owns CET1 Capital instruments issued by that entity; or
      (c) the Authorised Person owns CET1 Capital instruments issued by that entity and the entity is not included in consolidation pursuant to Chapter 8 of these Rules but is included in the same accounting consolidation as the Authorised Person for the purposes of financial reporting under the International Financial Reporting Standards.