PRU A4.3.17

(1) An Authorised Person must apply for approval from the Regulator if it intends to use own-estimate haircuts.
(2) An Authorised Person must not use own-estimate haircuts unless it has received approval to adopt the internal models approach to calculate the Market Risk Capital Requirement.
(3) The Regulator may grant approval for an Authorised Person to use own-estimate haircuts subject to such conditions or restrictions as the Regulator may impose.