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Timeline guidance

management body

87

  1. (1) (other than in (2) or (3)133)112 154118132the governing body and senior personnel who are empowered to set the person’s118 strategy, objectives and overall direction, and which oversee and monitor management decision-making in the following:118
    1. (a) 118a common platform firm (in relation to the requirements imposed by or under the UK provisions which implemented132 MiFID or MiFIR); or
    2. (ai) a MIFIDPRU investment firm (in relation to the requirements in MIFIDPRU); or
    3. (b) 118a recognised investment exchange; or
    4. (c) 118a data reporting services provider.
    [Note: article 4(1)(36) of MiFiD]132
  2. 112(2) (in COLL and in SYSC 19E132), the governing body of a management company or depositary of a UCITS scheme132, as applicable, with ultimate decision-making authority comprising the supervisory and the managerial function or only the managerial function, if the two functions are separated.
  3. (3) (in relation to an operator of an electronic system in relation to lending) the governing body with ultimate decision-making authority comprising the supervisory and the managerial function or, if the two functions are separated, only the managerial function.133

[Note: article 2(1)(s) of the UCITS Directive]132

  1. (4) (in relation to a non-authorised parent undertaking of an FCA investment firm) the board of directors, committee of management or other governing body of the undertaking and senior personnel who are empowered to set the undertaking’s strategy, objectives and overall direction, and which oversee and monitor management decision-making in the undertaking. 153