PRU 3.10.4

Past version: effective from 09/03/2020 - 08/03/2020
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For the purposes of Rule 3.10.2(c), an Authorised Person may include interim or year-end net profits in CET1 Capital before the Authorised Person has approved its annual audited accounts confirming its final profit or loss for the year, but only where:

(a) those profits have been reviewed by the external Auditor of the Authorised Person, which is responsible for auditing its accounts; and
(b) the Authorised Person is fully satisfied that any foreseeable charge or dividend has been deducted from the amount of those net profits.