SYSC 26.1 Application

This chapter applies to:

1. (1)

   an SMCR banking firm;

2. (2)

   an SMCR insurance firm that is a Solvency II firm (including a large non-directive insurer) but excluding:

   1. (a)

      an insurance special purpose vehicle; and

   2. (b)

      a firm in SYSC 23 Annex 1 5.2R (firms in run-off); and

3. (3)

   an enhanced scope SMCR firm;

   except to the extent that this chapter applies a narrower scope to a particular provision.

This chapter is not limited to regulated activities or other specific types of activities.

This chapter does not apply to an EEA SMCR firm.

There is no territorial limitation on the application of this chapter, save as set out in SYSC 26.1.5R.

When this chapter applies to an overseas SMCR firm, it applies in relation to the firm’s branch in the United Kingdom.

Unless the context requires otherwise, the terms in the first column of the table in SYSC 26.1.7R are modified as described in the second column of that table in relation to an overseas SMCR firm.