[X1PART THREE U.K. CAPITAL REQUIREMENTS

TITLE I U.K. GENERAL REQUIREMENTS, VALUATION AND REPORTING

CHAPTER 1 U.K. Required level of own funds

Section 2 U.K. Own funds requirements for investment firms with limited authorisation to provide investment services

Article 95 U.K. Own funds requirements for investment firms with limited authorisation to provide investment services

1 . For the purposes of Article 92(3), investment firms that are not authorised to provide the investment services and activities listed in [F1paragraphs 3 and 6 of Part 3 of Schedule 2 to the Regulated Activities Order] shall use the calculation of the total risk exposure amount specified in paragraph 2.

2 . Investment firms referred to in paragraph 1 of this Article and firms referred to in point (2)(c) of Article 4(1) that provide the investment services and activities listed in [F2paragraphs 2 and 4 of Part 3 of Schedule 2 to the Regulated Activities Order] shall calculate the total risk exposure amount as the higher of the following:

( a ) the sum of the items referred to in points (a) to (d) and (f) of Article 92(3) after applying Article 92(4);

( b ) 12,5 multiplied by the amount specified in Article 97.

Firms referred to in point (2)(c) of Article 4(1) that provide the investment services and activities listed in [F2paragraphs 2 and 4 of Part 3 of Schedule 2 to the Regulated Activities Order] shall meet the requirements in Article 92(1) and (2) based on the total risk exposure amount referred to in the first subparagraph.

Competent authorities may set the own funds requirements for firms referred to in point (2)(c) of Article 4(1) that provide the investment services and activities listed in [F2paragraphs 2 and 4 of Part 3 of Schedule 2 to the Regulated Activities Order] as the own funds requirements that would be binding on those firms according to the national transposition measures in force on 31 December 2013 for Directives 2006/49/EC and 2006/48/EC.

3 . Investment firms referred to in paragraph 1 are subject to all other provisions regarding operational risk [F3provided in rules 2.2.32 and 2.2.33 of the FCA's Prudential sourcebook for Investment Firms].]