Recital 1

(1)To specify the details of the scope of prudential consolidation of an investment firm group as referred to in Article 7 of Regulation (EU) 2019/2033, it is necessary to determine, on the basis of Directive 2013/34/EU of the European parliament and of the Council ² , the links on the basis of which ancillary services undertakings, financial institutions, investment firms, and tied agents related to a particular investment firm, investment holding company or mixed financial holding company, should be included in that scope.