service company

a firm whose only permitted activities are making arrangements with a view to transactions in investments, and agreeing to carry on that regulated activity, and whose Part 4A permission 232 :

1. (a) incorporates a limitation substantially to the effect that the firm carry on regulated activities only with one or more of market counterparties , intermediate customers, 217eligible counterparties 216or professional clients216; and
2. (b) includes requirements substantially to the effect that the firm must not:
   1. (i) guarantee, or otherwise accept responsibility for, the performance, by a participant in arrangements made by the firm in carrying on regulated activities, of obligations undertaken by that participant in connection with those arrangements; or
   2. (ii) approve any financial promotion on behalf of any other person or any specified class of persons; or
   3. (iii) in carrying on its regulated activities, provide services otherwise than in accordance with documents (of a kind specified in the requirement) provided by the firm to the232 FCA.232 2 13