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(1) ( for the purposes of ELM) a holding or position set out in ELM 2.4.17 R (Material holdings).(2) (for the purposes of GENPRU and BIPRU) has the meaning in GENPRU 2.2.209 R (Deductions from tiers one and two: Material holdings).
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has the meaning in GENPRU 2.2.212R (Material holdings)
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one of the following:(a) (in accordance with Article 4(20)of the Banking Consolidation Directive (Definitions)) a parent undertaking, other than a financial holding company, a credit institution or a mixed financial holding company, the subsidiary undertakings of which include at least one credit institution; or(b) (in accordance with Articles 2(2) and 37(1) of the Capital Adequacy Directive (Supervision on a consolidated basis) and in relation to a banking and investment group without any credit institutions in it) a parent undertaking, other than a financial holding company, an investment firm or a mixed financial holding company, the subsidiary undertakings of which include at least one investment firm.
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(in COB ) (in relation to a transaction) any interest of a material nature, other than:(a) disclosable commission on the transaction;(b) goods or services which can reasonably be expected to assist in carrying on designated investment business with or for clients and which are provided or to be provided in compliance with COB 7.18.3 R (Use of dealing commission to purchase goods or services)
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(in accordance with Article 2(15) of the Financial Groups Directive (Definitions)) a parent undertaking, other than a regulated entity, which meets the following conditions:(a) it, together with its subsidiary undertakings, at least one of which is an EEA regulated entity, and other entities, constitutes a financial conglomerate;(b) it has been notified by its coordinator that its group is a financial conglomerate in accordance with Article 4(2) of the Financial Groups Directive; and(c) it has not been notified that its coordinator and other relevant competent authorities have agreed not to treat the group as a financial conglomerate in accordance with Article 3(3) of the Financial Groups Directive.
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(in accordance with Article 1(j) of the Insurance Groups Directive (Definitions)) a parent undertaking, other than an insurance undertaking, an insurance holding company or a mixed financial holding company, the subsidiary undertakings of which include at least one insurance undertaking.
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outsourcing services of such importance that weakness, or failure, of the services would cast serious doubt upon the firm's continuing satisfaction of the threshold conditions or compliance with the Principles.