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Home State

  1. 33
    1. (1) (in relation to a credit institution) the EEA State in which the credit institution has been authorised in accordance with the CRD.
    2. (2) (in relation to an investment firm):
      1. (a) if the investment firm is a natural person, the EEA State in which his head office is situated;
      2. (b) if the investment firm is a legal person, the EEA State in which its registered office is situated; or
      3. (c) if the investment firm has, under its national law, no registered office, the EEA State in which its head office is situated.
      [Note: article 4(1)(20) of MiFID]
    3. (3) (in relation to a UCITS management company) the EEA State in which the management company's registered office is situated;
    4. (4) (in relation to an insurance undertaking with an EEA right) the EEA State in which the registered office of the insurance undertaking is situated.
    5. (5) (in relation to an IMD insurance intermediary or an IMD reinsurance intermediary):
      1. (a) where the insurance intermediary is a natural person, the EEA State in which his residence is situated and in which he carries on business;
      2. (b) where the insurance intermediary is a legal person, the EEA State in which its registered office is situated or, if under its national law it has no registered office, the EEA State in which its head office is situated.
    6. (6) (except in REC) (in relation to a market) the EEA State in which the registered office of the body which provides training facilities is situated or, if under its national law it has no registered office, the EEA State in which that body's head office is situated.
    7. (7) (in relation to a Treaty firm) the EEA State in which its head office is situated, in accordance with paragraph 1 of Schedule 4 to the Act (Treaty Rights).
    8. (8) (in LR and PR) (as defined in section 102C of the Act) in relation to an issuer of transferable securities, the EEA State which is the "home Member State" for the purposes of the prospectus directive (which is to be determined in accordance with Article 2.1(m) of that directive).
    9. (9) (in DTR):37
      1. (a) in the case of an issuer of debt securities37 the denomination per unit of which is less than EUR 1 000 or an issuer of shares:
        1. (i) where the issuer is incorporated in the EEA, the EEA State in which it has its registered office;
        2. (ii) where the issuer is incorporated in a third country, the EEA State chosen by the issuer from among the EEA States where its securities are admitted to trading on a regulated market; the choice of Home State shall remain valid unless the issuer has chosen a new Home State under (c) and has disclosed the choice in accordance with DTR 6.4.2R and DTR 6.4.3R.37
        The definition of Home State shall be applicable to debt securities37 in a currency other than Euro, provided that the value of such denomination per unit is, at the date of the issue, less than EUR 1 000, unless it is nearly equivalent to EUR 1 000;
      2. (b) for an issuer not covered by (a) , the EEA State chosen by the issuer from among the EEA States in which the issuer has its registered office, where applicable,37 and those EEA States where37 its securities are admitted37 to trading on a regulated market37. The issuer may choose only one EEA State as its Home State37. Its choice shall remain valid for at least three years unless its securities are no longer admitted to trading on any regulated market in the EEA or unless the issuer becomes covered by (a) or (c) during the three-year period37;
      3. (c) for an issuer whose securities are no longer admitted to trading on a regulated market in its Home State as defined by (a)(ii) or (b) but instead are admitted to trading in one or more other EEA States, such new Home State as the issuer may choose from among the EEA States where its securities are admitted to trading on a regulated market and, where applicable, the EEA State where the issuer has its registered office.37
      In the absence of disclosure by the issuer of its Home State as defined by (a)(ii) or (b) within a period of three months from the date that the issuer’s securities are first admitted to trading on a regulated market, the Home State shall be determined in accordance with DTR 6.4.4R.37
    11. (10) (in relation to a UCITS) the EEA State in which the unit trust, common fund or investment company is established and authorised under article 5 of the UCITS Directive.
    12. (11) (in REC) in relation to an EEA market operator, the EEA State in which it has its registered office, or if it has no registered office, its head office.
    13. (12) (in relation to a person who has received authorisation under article 18 of the auction regulation) the EEA state in which the person is established and authorised under the auction regulation.
    14. (13) (for an AIF) the EEA State in which:
      1. (a) the AIF is authorised or registered under applicable national law; or
      2. (b) if the AIF is neither authorised nor registered in an EEA State, the EEA State in which the AIF has its registered office and/or head office.
      [Note: article 4(1)(p) of AIFMD]
    15. (14) (for an AIFM) the EEA State in which the AIFM has its registered office.[Note: article 4(1)(q) of AIFMD]
    16. (15) (for an MCD credit intermediary):39
      1. (a) where the MCD credit intermediary is a natural person, the EEA State in which his head office is situated; or39
      2. (b) where the MCD credit intermediary is a legal person, the EEA State in which its registered office is situated or, if under its national law it has no registered office, the EEA State in which its head office is situated.39
      [Note: article 4(19) of the MCD]39