Prudential Regulation Authority Rulebook

2.1

This chapter applies to a UK firm other than a pure reinsurer.

2.2

A UK firm wishing to establish a branch within the territory of another EEA State for the first time under an EEA right other than derived from the CRD or MiFID II must notify the PRA of its intention by submitting the form referred to in 10.1 (Branch Notification Form).

2.3

A UK firm wishing to establish a branch within the territory of another EEA State for the first time under an EEA right derived from the CRD must comply with the information requirements set out in Commission Delegated Regulation (EU) 1151/2014 and notify the PRA of its intention by submitting the form in Annex I of Commission Implementing Regulation (EU) 926/2014 and the form referred to in 10.3 (Declaration).

[Note: Article 35(2) of CRD]

2.4

This rule applies to a UK firm in relation to its EEA rights derived from MiFID II.

1. (1) A UK designated investment firm wishing to establish a branch within the territory of another EEA State must comply with the information requirements set out in Article 6 of Commission Delegated Regulation (EU) 2017/1018 and notify the PRA of its intention by submitting the form set out in Annex VI of Commission Implementing Regulation (EU) 2017/2382. The firm must also notify the PRA if it intends to use a tied agent in the same territory as the branch.
2. (2) A UK firm wishing to use a tied agent established in another EEA State in which it has not established a branch must comply with the information requirements set out in Article 6 Commission Delegated Regulation (EU) 2017/1018 and notify the PRA of its intention by submitting the form set out in Annex VII of Commission Implementing Regulation (EU) 2017/2382.
3. (3) A UK firm notifying the PRA in accordance with (1) or (2) must also submit the form referred to in 10.3 (Declaration).

[Note: Article 35(2),(7) of MiFID II]