Prudential Regulation Authority Rulebook

6.1

A firm with internal model approval must not change its internal model otherwise than in accordance with the firm’s internal model change policy as approved by the PRA.

[Note: Art. 115 of the Solvency II Directive]

6.2

A firm’s internal model change policy must include a specification of minor and major changes to the internal model.

[Note: Art. 115 of the Solvency II Directive]

6.3

A firm with internal model approval must not:

1. (1) make any major change to its internal model; or
2. (2) make any change to its internal model change policy;

without obtaining the prior approval of the PRA in accordance with the procedures set out in 3 to 5 for obtaining internal model approval.

[Note: Art. 115 of the Solvency II Directive]