PRU 4.15.6

Where an Authorised Person's Trading Book Exposure to a Counterparty or to a group of Closely Related Counterparties or to a group of Connected Counterparties, on its own or when added to any Non-Trading Book Exposure, is likely to exceed 25% of its Capital Resources, the Authorised Person must immediately give the Regulator written notice, explaining the nature of its Trading Book Exposure and seeking specific guidance from the Regulator regarding the prudential treatment of any such Exposure.