BIPRU firm

50a firm, as defined in article 4(1)(2)(c) of the UK CRR75 that satisfies the following conditions:

1. (a) it is authorised to provide one or more the following investment services:
   1. (i) execution of orders on behalf of clients;
   2. (ii) portfolio management; and
2. (b) it may provide one or more of the following investment services:
   1. (i) reception and transmission of orders in relation to one or more financial instruments;
   2. (ii) investment advice;
   but excluding firms of the type listed in BIPRU 1.1.7 R (Exclusion of certain types of firm from the definition of BIPRU firm).