- ancillary services undertaking
means an undertaking, the principal activity of which consists of owning or managing property, managing data‐processing services, or a similar activity which is ancillary to the principal activity of one or more investment firms;
- authorisation
means authorisation of an investment firm in accordance with Article 5 of Directive 2014/65/EU;
- branch
means a branch as defined in point (30) of Article 4(1) of Directive 2014/65/EU;
- CCP
means a CCP as defined in Article 2, point (1), of Regulation (EU) No 648/2012 of the European Parliament and of the Council;
- close links
means close links as defined in point (35) of Article 4(1) of Directive 2014/65/EU;
- commodity and emission allowance dealer
means a commodity and emission allowance dealer as defined in point (150) of Article 4(1) of Regulation (EU) No 575/2013;
- competent authority
means a public authority or body of a Member State that is officially recognised and empowered by national law to supervise investment firms in accordance with this Directive, as part of the supervisory system in operation in that Member State;
- compliance with the group capital test
means compliance by a parent undertaking in an investment firm group with the requirements of Article 8 of Regulation (EU) 2019/2033;
- consolidated situation
means a consolidated situation as defined in point (11) of Article 4(1) of Regulation (EU) 2019/2033;
- control
means the relationship between a parent undertaking and a subsidiary, as described in Article 22 of Directive 2013/34/EU of the European Parliament and of the Council, or in the accounting standards to which an investment firm is subject under Regulation (EC) No 1606/2002 of the European Parliament and of the Council, or a similar relationship between any natural or legal person and an undertaking;
- credit institution
means a credit institution as defined in point (1) of Article 4(1) of Regulation (EU) No 575/2013;
- derivatives
means derivatives as defined in point (29) of Article 2(1) of Regulation (EU) No 600/2014 of the European Parliament and of the Council;
- financial institution
means a financial institution as defined in point (14) of Article 4(1) of Regulation (EU) 2019/2033;
- gender neutral remuneration policy
means gender neutral remuneration policy as defined in point (65) of Article 3(1) of Directive 2013/36/EU, as amended by Directive (EU) 2019/878 of the European Parliament and of the Council;
- group
means a group as defined in point (11) of Article 2 of Directive 2013/34/EU;
- group supervisor
means a competent authority responsible for the supervision of compliance with the group capital test of Union parent investment firms and investment firms controlled by Union parent investment holding companies or Union parent mixed financial holding companies;
- home Member State
means a home Member State as defined in point (55)(a) of Article 4(1) of Directive 2014/65/EU;
- host Member State
means a host Member State as defined in point (56) of Article 4(1) of Directive 2014/65/EU;
- initial capital
means the capital which is required for the purposes of authorisation as an investment firm, the amount and type of which are specified in Articles 9 and 11;
- investment firm
means an investment firm as defined in point (22) of Article 4(1) of Regulation (EU) 2019/2033 of the European Parliament and of the Council which is subject to the initial capital requirement laid down in Article 9(1) of Directive (EU) 2019/2034 of the European Parliament and of the Council.
- investment firm group
means an investment firm group as defined in point (25) of Article 4(1) of Regulation (EU) 2019/2033;
- investment holding company
means an investment holding company as defined in point (23) of Article 4(1) of Regulation (EU) 2019/2033;
- investment services and activities
means investment services and activities as defined in point (2) of Article 4(1) of Directive 2014/65/EU;
- management body
means a management body as defined in point (36) of Article 4(1) of Directive 2014/65/EU;
- management body in its supervisory function
means the management body acting in its role of overseeing and monitoring management decision‐making;
- mixed financial holding company
means a mixed financial holding company as defined in point (15) of Article 2 of Directive 2002/87/EC of the European Parliament and of the Council;
- mixed‐activity holding company
means a parent undertaking other than a financial holding company, an investment holding company, a credit institution, an investment firm, or a mixed financial holding company within the meaning of Directive 2002/87/EC, the subsidiaries of which include at least one investment firm;
- parent undertaking
means a parent undertaking as defined in point (32) of Article 4(1) of Directive 2014/65/EU;
- QCCP
means a ‘qualifying central counterparty’ or ‘QCCP’ as defined in Article 4(1), point (88), of Regulation (EU) No 575/2013.
- sectoral rules
means Union legal acts relating to the prudential supervision of regulated entities, in particular Regulations (EU) No 575/2013 and (EU) 2019/2033 of the European Parliament and of the Council and Directives 2009/138/EC, 2013/36/EU, 2014/65/EU and (EU) 2019/2034 of the European Parliament and of the Council.
- senior management
means senior management as defined in point (37) of Article 4(1) Directive 2014/65/EU;
- subsidiary
means a subsidiary as defined in point (33) of Article 4(1) of Directive 2014/65/EU;
- systemic risk
means systemic risk as defined in point (10) of Article 3(1) of Directive 2013/36/EU;
- Union parent investment firm
means a Union parent investment firm as defined in point (56) of Article 4(1) of Regulation (EU) 2019/2033;
- Union parent investment holding company
means a Union parent investment holding company as defined in point (57) of Article 4(1) of Regulation (EU) 2019/2033;
- Union parent mixed financial holding company
means a Union parent mixed financial holding company as defined in point (58) of Article 4(1) of Regulation (EU) 2019/2033;