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CAD investment firm

153a firm that is subject to the requirements imposed by the UK implementation of230 MiFID (or a firm which would be subject to those requirements230 if its head office were in the UK230) but excluding a bank, a building society, a credit institution, a local firm211 and an exempt CAD firm that meets the following conditions:

  1. (a) it is a firm as defined in article 4(1)(2)(c) of the UK CRR230;
  2. (b) 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
  3. (c) 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.