Part 1: Prudential regulation of credit institutions and investment firms Section 1: Exclusion of certain investment firms from the Capital Requirements Regulation
This section limits the CRR’s application to credit institutions and PRA-designated investment firms, thereby removing non-designated investment firms from the scope of the CRR, such that they can then be within scope of the IFPR.
	The section defines "designated investment firm" and "FCA investment firm". Through its designation procedure, the PRA will continue to be able to bring an FCA investment firm under PRA supervision, to be subject to the CRR. This section however specifies that procedure cannot be used for the categories of firms described in point (2AA) (a)-(c) of Article 4 of the CRR who, from implementation of the IFPR regime, will only therefore be supervised and regulated by the FCA.