AI Summary of Article 15 Derogation from the application of own funds requirements on a consolidated basis for groups of investment firms
The consolidating supervisor has the discretion to waive certain regulatory requirements under specified conditions. This includes the application of Part Three and the reporting obligations outlined in Part Seven A, provided that each EU investment firm within the group adheres to alternative total risk exposure calculations and meets individual requirements in Articles 95 and 96.
Moreover, it is essential that the parent financial holding company maintains sufficient capital to cover specified financial exposures within the group, and that the group does not comprise any credit institutions. Compliance systems must be established to monitor capital and funding across all entities involved.
Article 15 Derogation from the application of own funds requirements on a consolidated basis for groups of investment firms
1. The consolidating supervisor may waive, on a case-by-case basis, the application of Part Three, the associated reporting requirements in Part Seven A of this Regulation, and Chapter 4 of Title VII of Directive 2013/36/EU, with the exception of point (d) of Article 430(1) of this Regulation on a consolidated basis, provided that the following conditions exist:
(a) each EU investment firm in the group uses the alternative calculation of total risk exposure amount referred to in Article 95(2) or 96(2);
(b) all investment firms in the group fall within the categories in Articles 95(1) or 96(1);