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  2. Point in time
    2018-07-20

IFPRU 50K firm

124has the meaning in IFPRU 1.1.10 R (Types of investment firm: IFPRU 50K firm) which in summary is an IFPRU investment firm that satisfies the following conditions:

  1. (a) it satisfies the conditions in IFPRU 1.1.9 R (1) (does not deal on own account or underwrite issues of financial instruments on a firm commitment basis) and IFPRU 1.1.9 R (3) (offers one or more of certain specified services);
  2. (b) it does not hold clients' money or securities in relation to investment services it provides and it is not authorised to do so;
  3. (c) it is not a collective portfolio management investment firm; and
  4. (d) it does not operate a multilateral trading facility or an organised trading facility150.