Schedule 3, Part 2, paragraph 7(9)

In this section— “governance arrangements” includes organisational structure, lines of responsibility and internal control mechanisms; “group risk” means the risk that the financial position of a financial holding company or mixed financial holding company or of a member of its group may be adversely affected— by its relationships, whether financial or non-financial, with other members of the group, or by matters which affect the financial position of the group, or of a group which forms part of that group, taken as a whole (including, for example, reputational contagion).

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