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    2024-12-20

ancillary service

(1) (except in CONC)107 any of the services listed in Part 3A of Schedule 2 to the Regulated Activities Order154, that is:

  1. (a) safekeeping and administration of financial instruments for the account of clients, including custodianship and related services such as cash/collateral management but excluding maintaining securities accounts at the top tier level, (‘central maintenance service’) referred to in point 2 of Section A of the Annex to CSDR139195;
  2. (b) granting credits or loans to an investor to allow him to carry out a transaction in one or more financial instruments, where the firm granting the credit or loan is involved in the transaction;
  3. (c) advice to undertakings on capital structure, industrial strategy and related matters and advice and services relating to mergers and the purchase of undertakings;
  4. (d) foreign exchange services where these are connected to the provision of investment services;
  5. (e) investment research and financial analysis or other forms of general recommendation relating to transactions in financial instruments;
  6. (f) services related to underwriting; and
  7. (g) investment services and activities included in Part 3 of Schedule 2 to the Regulated Activities Order,154 as well as ancillary services, of the type included in Part 3A,154 related to the underlying of the derivatives included in paragraphs 5, 6, 7 or 10 of Part 1 of Schedule 2 to the Regulated Activities Order where these are connected to the provision of investment or ancillary services.154

    [Note: article 2(3) of MiFIR154]

    107(2) (in CONC) a service that relates to entering into a regulated credit agreement as lender and includes, in particular, an insurance or payment protection policy.