4.6 Information to be assessed

To assess whether the investment firm group can be granted the group capital test permission in accordance with Article 8(1) of Regulation (EU) 2019/2033, or the lower amount permission in accordance with Article 8(4) of that regulation, competent authorities should assess all the necessary information provided by the Union parent investment firm, Union parent investment holding company or Union parent mixed financial holding company or any other relevant parent undertaking, including:

• (a) description of the group activities;
• (b) the up-to-date group structure;
• (c) the up-to-date overview of the intragroup transfer of activities and positions subject to K-AUM, K-CMH, K-ASA, K-NPR and K-CMG;
• (d) the calculation of the consolidated capital requirements in accordance with Article 7 of Regulation (EU) 2019/2033, or the calculation of own funds requirements at individual level for the undertakings of the investment firm group if the competent authority applies paragraph 17;
• (e) the calculation of the actual own funds, including of notional own funds calculated in accordance with paragraph 20, available at the level of each undertaking of the investment firm group;
• (f) the calculation of the group capital test for the Union parent investment firm, the Union parent investment holding company or the Union parent mixed financial holding company, and for each parent undertaking of the group in a Member State as referred to in Article 8(3) of Regulation 2019/2033;
• (g) the calculation of the percentage referred to in paragraph 15(a);
• (h) a statement detailing the fulfilment of the conditions set out in Sections 4.3 and 4.4;
• (i) information on the valuation assigned to each parent undertaking and, if relevant, the reasons for the difference against the book value of each subsidiary. If competent authorities deem that the effort needed to fulfil this information requirement would be disproportionate, they may stipulate that this information requirement should be fulfilled only for the most material subsidiaries, and materiality should be assessed taking into account both the size and the risk of the subsidiaries within the investment firm group.

Contractual agreements referred to in paragraphs 12(d) and 14(i) should be taken into account as provided by the Union parent investment firm, Union parent investment holding company or Union parent mixed financial holding company or any other relevant parent undertaking only where they are material for the assessment of the application to use the group capital test.

If Section 4.2 is applicable, competent authorities may limit their assessment to the information set out in paragraph 22, points (a), (b), (d), (e), (f) and (g).

To assess whether the investment firm group can be granted the group capital test permission in accordance with Article 8(1) of Regulation (EU) 2019/2033, or the lower amount permission in accordance with Article 8(4) of that regulation, competent authorities should use all relevant available information, including regulatory reporting, accounting and financial reporting, internal investment firm accounts and ICARAP conclusions.