IPRU-INV 11.6 ADDITIONAL REQUIREMENTS FOR COLLECTIVE PORTFOLIO MANAGEMENT INVESTMENT FIRMS
A collective portfolio management investment firm is required to comply with MIFIDPRU in addition to IPRU-INV 11.3
- (1)
A collective portfolio management investment firm may undertake the following MiFID business: portfolio management; investment advice; safekeeping and administration in relation to shares or units of collective investment undertakings; and (if it is an AIFM investment firm) reception and transmission of orders in relation to financial instruments.
- (2)
[deleted]3
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A collective portfolio management investment firm is required to comply with the applicable requirements of MIFIDPRU3, in parallel with its requirements under IPRU-INV 11. This means that a capital instrument or liquid asset3 may be used to meet either or both sets of requirements provided it meets the conditions set out in the relevant sourcebook.
3A collective portfolio management investment firm is not required to include its collective portfolio management activities when calculating its K-factor metrics under MIFIDPRU.