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  1. Point in time
    2015-10-23

IFPRU 125K firm

124has the meaning in IFPRU 1.1.9 R (Types of investment firm: IFPRU 125K firm), which in summary is an IFPRU investment firm that satisfies the following conditions:

  1. (a) it does not deal on own account or underwrite issues of financial instruments on a firm commitment basis;
  2. (b) it holds clients' money or securities in relation to investment services it provides or is authorised to do so;
  3. (c) it offers one or more of certain specified services;
  4. (d) it is not a collective portfolio management investment firm; and
  5. (e) it does not operate a multilateral trading facility.