Section 192JB(6)

“The appropriate regulator” means— where the subsidiary undertakings of the qualifying parent undertaking include a ring-fenced body that is a PRA-authorised person, the PRA; where the subsidiary undertakings of the qualifying parent undertaking include one or more PRA-authorised persons but do not include any authorised person that is not a PRA-authorised person, the PRA; where the subsidiary undertakings of the qualifying parent undertaking do not include any PRA-authorised person, the FCA; in any other case, the PRA or the FCA.

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Source: legislation.gov.uk · retrieved 2026-09-04