Related provisions for SYSC 5.2.50

SUP App 3.9.4G06/04/2016

Table 1: CRD activities6 6		Part II RAO Activities	Part III RAO Investments
1.	Taking6 deposits and other repayable funds from the public 6	Article 5	Article 74
2.	Lending	Article 61, 64	Article 88
3.	Financial leasing
4.	Money transmission services
5.	Issuing and administering means of payment (eg credit cards, travellers' cheques and bankers' drafts)
6.	Guarantees and commitments
7.	Trading for own account or for account of customers in: (a) money market instruments (b) foreign exchange (c) financial futures and options (d) exchange and interest rate instruments (e) transferable securities	Article 14, 21, 25 (see Note 1), 64 Article 14, 21, 25, 64 Article 14, 21, 25, 64 Article 14, 21, 25, 64 Article 14, 21, 25, 64	Article 77, 78, 80, 83-85, 89 Article 83-85, 89 Article 83-85, 89 Article 83-85, 89 Article 76-81, 89
8.	Participation in share issues and the provision of services relating to such issues	Article 14, 21, 25, 53(1)10, 64	Article 76-81, 89
9.	Advice to undertakings on capital structure, industrial strategy and related questions and advice and services relating to mergers and the purchase of undertakings	Article 14, 21, 25, 53(1)10, 64	Article 76-80, 83-85, 89
10.	Money broking	Article 25, 64	Article 77, 78, 89
11.	Portfolio management and advice	Article 14, 21, 25, 37, 53(1)10, 64	Article 76-81, 83-85, 89
12.	Safekeeping and administration of securities	Article 40, 45, 64	Article 76-81, 83-85, 89
13.	Credit reference services
14.	Safe custody services	1	1 6
615.	Issuing electric money	Article 9B	Article 74A
3Note 12: The services and activities provided for in Sections A and B of Annex I of MiFID when referring to the financial instruments provided for in Section C of Annex I of that Directive are subject to mutual recognition according to the CRD from 1 January 2013.6See2 the table at SUP App 3.9.5 G below for mapping of MiFID investment services and activities.For further details relating to this residual category, please see the "CRD"6section of the passporting forms entitled "Notification of intention to establish a branch in another EEA State" and "Notification of intention to provide cross border services in another EEA State".2 2 6 6

SUP App 3.9.5G06/04/2016

3Table 2: MiFID investment services and activities		Part II RAO Investments	Part III RAO Investments
	A MiFID investment services and activities
1.	Reception and transmission of orders in relation to one or more financial instruments	Article 252	Article 76-81, 83-85, 89
2.	Execution of orders on behalf of clients	Article 14, 21	A Article 76-81, 83-85, 89
3.	Dealing on own account	Article 14	Article 76-81, 83-85, 89
4.	Portfolio management	Article 37 (14, 21, 25 - see Note 1) 2	Article 76-81, 83-85, 89
5.	Investment advice	Article 53(1)10	Article 76-81, 83-85, 89
6.	Underwriting of financial instruments and/or placing of financial instruments on a firm commitment basis	Article 14, 21	Article 76-81, 83-85, 89
7.	Placing of financial instruments without a firm commitment basis	Article 21, 25	Article 76-81, 83-85, 89
8.	Operation of Multilateral Trading Facilities	Article 25D5 (see Note 2) 5	Article 76-81, 83-85, 89
	Ancillary services	Part II RAO Activities	Part III RAO Investments
1.	Safekeeping and administration of financial instruments for the account of clients, including custodianship and related services such as cash/collateral management	Article 40, 45, 64	Article 76-81, 83-85, 89
2.	Granting credits or loans to an investor to allow him to carry out a transaction in one or more of the relevant instruments where the firm granting the credit or loan is involved
3.	Advice to undertakings on capital structure, industrial strategy and related matters and advice and services relating to mergers and the purchase of undertakings	Article 14, 21, 25, 53(1)10, 64	Article 76-80, 83-85, 89
4.	Foreign exchange services where these are connected with the provision of investment services	Article 14, 21, 25, 53(1)10, 64	Article 83-85, 89
5.	Investment research and financial analysis or other forms of general recommendation relating to transactions in financial instruments	Article 53(1)10, 64	Article 76-81, 83-85, 89
6.	Services related to underwriting	Article 25, 53(1)10, 64	Article 76-81, 83-85, 89
7.	Investment services and activities as well as ancillary services of the type included under Section A or B of Annex I related to the underlying of the derivatives included under Section C 5, 6, 7 and 10-where these are connected to the provision of investment or ancillary services.	Article 14, 21, 25, 25D,5 37, 53(1)10, 64 5	Article 83 and 84
Note 1. A firm may also carry on these other activities when it is managing investments.2
Note 2. A firm operating an MTF under article 25D5 does not need to have a permission covering other regulated activities, unless it performs other regulated activities in addition to operating an MTF. 5

MAR 5.3.1R01/01/2014

1A firm operating an MTF must have:(1) transparentand non-discretionary rules and procedures for fair and orderly trading;[Note:Article 14(1) of MiFID](2) objective criteria for the efficient execution of orders;[Note: Article 14(1) of MiFID](3) transparent rules regarding the criteria for determining the financial instruments that can be traded under its systems;[Note: Subparagraph 1 of Article 14(2) of MiFID](4) transparent rules, based on objective criteria, governing access

CASS 6.1.24G01/01/2009

The custody rules also, where relevant,2 implement the provisions of MiFID which regulate the obligations of a firm when it holds financial instruments belonging to a client in the course of its MiFID business.2

REC 3.15.2R01/04/2013

Where, for any reason, an RIE: (1) suspends trading in any derivative (other than an option in relation to a security), in any type of security or in any type of option in relation to a security; or(2) temporarily calls a trading halt in respect of any type of security or in any type of option in relation to a security;it must immediately give the FCA3notice of that event, particulars of that derivative, type of security or type of option in relation to a security, as the case

REC 3.15.2AR01/04/2013

1When a UK RIE suspends trading on a regulated market in any financial instrument, it must immediately give the FCA3notice of that event and relevant information including particulars of that financial instrument and the reasons for the action taken. [Note: Article 41(1), paragraph 2 of MiFID]3

REC 2.16A.1UK01/11/2007

Schedule to the Recognition Requirements Regulations, Paragraph 9A

1(1)	[A UK RIE] operating a multilateral trading facility must also operate a regulated market.
(2)	[A UK RIE] operating a multilateral trading facility must comply with those requirements of-
	(a)	Chapter I of Title II of [MiFID], and
	(b)	MiFID implementing Directive,
	which are applicable to a market operator ... operating such a facility.
(3)	The requirements of this paragraph do not apply for the purposes of section 292(3)(a) of the Act (requirements for overseas investment exchanges and overseas clearing houses).

MAR 5.6.1R01/04/2013

1A firm operating an MTF must:(1) report to the FCA:(a) significant breaches of the firm's rules;(b) disorderly trading conditions; and(c) conduct that may involve market abuse; (2) supply the information required under this rule without delay to the FCA and any other authority competent for the investigation and prosecution of market abuse; and (3) provide full assistance to the FCA, and any other authority competent for the investigation and prosecution of market abuse, in

MAR 5.5.1R01/11/2007

6A firm operating an MTF must:(1) have effective arrangements and procedures, relevant to the MTF, for the regular monitoring of the compliance by its users with its rules; and(2) monitor the transactions undertaken by its users under its systems in order to identify breaches of those rules, disorderly trading conditions or conduct that may involve market abuse.[Note: Article 26(1) of MiFID]

REC 3.25.1R01/04/2013

1A UK RIE and an RAP2must immediately notify the FCA3of:3(1) significant breaches of its rules; or(2) disorderly trading conditions on any of its markets or auctions.2[Note: Article 26(2), first sentence (part) and Article 43(2), first sentence (part) of MiFID. The rest of Article 26(2), first sentence (in so far as it relates to market operators operating an MTF) and Article 43(2), first sentence of MiFID is implemented by REC 3.21.1 R (2)]

REC 2.5.1UK01/11/2007

Schedule to the Recognition Requirements Regulations, paragraph 3

2(1)	The [UK RIE] must ensure that the systems and controls used in the performance of its [relevant functions] are adequate, and appropriate for the scale and nature of its business.
(2)	Sub-paragraph (1) applies in particular to systems and controls concerning -
	(a)	the transmission of information;
	(b)	the assessment, mitigation and management of risks to the performance of the [UK RIE's relevant functions];
	(c)	the effecting and monitoring of transactions on the [UK RIE];
	(ca)	the technical operation of the [UK RIE], including contingency arrangements for disruption to its facilities;
	(d)	the operation of the arrangements mentioned in paragraph 4(2)(d); and
	(e)	(where relevant) the safeguarding and administration of assets belonging to users of the [UK RIE's] facilities.

REC 3.14.2AR01/04/2013

1When a UK RIE removes a financial instrument from trading on a regulated market, it must immediately give the FCA3notice of that event and relevant information including particulars of that financial instrument and the reasons for the action taken.[Note: Article 41(1), paragraph 2 of MiFID]3

Related provisions for SYSC 5.2.50

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Schedule to the Recognition Requirements Regulations, Paragraph 9A

Schedule to the Recognition Requirements Regulations, paragraph 3