Related provisions for PERG 2.8.12B
1 - 16 of 16 items.
3The exclusions referred to in PERG 2.8.6AG (4), PERG 2.8.6AG(11)19 and PERG 2.8.6AG (13)(b), (c)4, (d), (e) and (l) will not be available to persons who, when4 carrying on an arranging activity, are MiFID investment firms or third country investment firms4 (see PERG 2.5.4 G to PERG 2.5.5 G4 (Investment services and activities)).444
The activities of persons appointed under a power of attorney are excluded under article 38 of the Regulated Activities Order, from the regulated activity of managing investments, if specified conditions are satisfied. The exclusion only applies where a person is not carrying on insurance mediation or reinsurance mediation and is subject to further limitations discussed below2. In addition, the following exclusions (outlined in PERG 2.9) apply in specified circumstances where
It remains the Government's responsibility to ensure the proper implementation of MiFID2. Certain2persons subject to the requirements of MiFID2 must be brought within the scope of regulation under the Act. A core element of MiFID is the concept of investment firm.2 An investment firm is any person whose regular occupation or2 business is2 the provision of one or more2investment services to third parties or the performance of one or more investment activities on a professional
For persons who are MiFID2investment firms, the activities that must be caught by the Regulated Activities Order are those that are caught by MiFID2. To achieve this result, some of the exclusions in the Order (that will apply to persons who are not caught by MiFID2) have been made unavailable to MiFID2investment firms when they provide or perform investment services and activities. A "MiFID investment firm", for these purposes, includes credit institutions to which MiFID applies
7When PERG 2.5.7G applies, the product is only treated as falling within the definition of the specified investment concerned if (in relation to that product):(1) one of the following persons:(a) a MiFID investment firm; or(b) a third country investment firm; or(c) a CRD credit institution; or(d) a credit institution that would qualify to be a CRD credit institution if its registered or head office were in the EEA;provides or performs investment services and/or activities on a
For a firm in SYSC 10A.1.1R(1) (other than a MiFID investment firm or a third country investment firm) MiFIR, and any EU Regulation adopted under MiFIR or MiFID, apply to the extent relevant to the subject matter of this chapter as if it were a MiFID investment firm providing investment services or performing investment activities in accordance with article 16(7) of MiFID.
(1) 12A tied agent is a person who acts for and under the responsibility of a MiFID investment firm (or a third country investment firm) in respect of MiFID business (or the equivalent business of the third country investment firm). Most tied agents appointed by firms are also appointed representatives.(2) Unless otherwise provided, this chapter applies to a firm that appoints a tied agent that is an appointed representative in the same way as it applies to the appointment of
(1) 21Unless exempted in (2) and subject to (3), MiFIR, and any EU regulation adopted as at 3 January 2018 under MiFIR or MiFID, apply to a third country investment firm as if it were a UK MiFID investment firm when the following conditions are met:(a) when it carries on MiFID or equivalent third country business; and(b) it carries on the business in (a) from an establishment in the United Kingdom.(2) Paragraph (1) does not apply: (a) to the extent MiFIR or an EU regulation adopted
A contravention of a rule in SYSC 11 to 2SYSC 21,7SYSC 22.8.1R or SYSC 22.9.1R7 does not give rise to a right of action by a private person under section 138D of the Act (and each of those rules is specified under section 138D(3) of the Act as a provision giving rise to no such right of action). 3443