Related provisions for CREDS 3A.5.9
Part II RAO Activities13 |
Part III RAO Investments |
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1. |
Reception and transmission of orders in relation to one or more financial instruments |
Article 252 |
Article 76-81, 82B,12 83-85, 89 |
2. |
Execution of orders on behalf of clients |
Article 14, 21 |
A Article 76-81,82B,12 83-85, 89 |
3. |
Dealing on own account |
Article 14 |
Article 76-81, 82B,12 83-85, 89 |
4. |
Portfolio management |
Article 37 (14, 21, 25 - see Note 1) 2 |
Article 76-81, 82B,12 83-85, 89 |
5. |
Investment advice |
Article 53(1)10 |
Article 76-81, 82B,12 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, 82B,12 83-85, 89 |
7. |
Placing of financial instruments without a firm commitment basis |
Article 21, 25 |
Article 76-81, 82B,12 83-85, 89 |
8. |
Operation of Multilateral Trading Facilities |
Article 25D5 (see Note 2) 5 |
Article 76-81, 82B,12 83-85, 89 |
12 9. |
Operation of an OTF |
Article 25DA (see Note 3) |
Article 77, 77A, 78, 79, 80, 81, 82B, 83-85, 89 |
Ancillary services |
Part II RAO Activities |
Part III RAO Investments |
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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, 82B,12 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 |
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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, 82B,12 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 76-81, 82B,12 83-85, 89 |
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6. |
Services related to underwriting |
Article 25, 53(1)10, 64 |
Article 76-81, 82B,12 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 |
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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 |
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Note 3. A firm operating an OTF under article 25DA does not need to have a permission covering other regulated activities, unless it performs other regulated activities in addition to operating an OTF.12 |
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13Note 4: A firm which provides investment research and financial analysis or other forms of general recommendation relating to transactions in financial instruments does not need permission under article 53(1) of the Regulated Activities Order if it is appropriately authorised (see article 53(1) to (1D) of the Regulated Activities Order). |
Table 2ZA: AIFMD activities |
Part II RAO Activities |
Part III RAO Investments |
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1. |
Article 51ZC |
N/A (activity relates to property of any kind) |
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2. |
Management of portfolios of investments, including those owned by pension funds and institutions for occupational retirement in accordance with article 19(1) of Directive 2003/41/EC, in accordance with mandates given by investors on a discretionary client-by-client basis (Note 2). |
Articles 14, 21, 25, 37, 40 (arranging only), 64 |
Articles 76 to 81, 82B,12 83 to 85, 89 |
3. |
Investment advice (Note 2). |
Articles 53(1)10, 64 |
Articles 76 to 81, 82B,12 83 to 85, 89 |
4. |
Safe-keeping and administration in relation to shares or units of collective investment undertakings. |
Articles 40, 45, 64 |
Articles 76 to 81, 82B,12 83 to 85, 89 |
5. |
Reception and transmission or orders in relation to financial instruments. |
Articles 25(1), 64 |
Articles 76 to 81,82B,12 83 to 85, 89 |
Note 1. See FUND 1.4.2 R to FUND 1.4.4 R for further information in relation to the activities that full-scope UK AIFMs are able to perform. |
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Note 2. See FUND 1.4.5 G for the position with respect to assets which are not financial instruments. |
Transparency of collective investment undertakings in periodical reports |
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1. |
UCITS management companies, UCITS investment companies, and AIFMs shall inform investors on the use they make of SFTs and total return swaps in the following manner: |
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(a) |
for UCITS management companies or UCITS investment companies in the half-yearly and annual reports referred to in [COLL 4.5.3R (Preparation of long reports)]21; |
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(b) |
for AIFMs in the annual report referred to in [FUND 3.3.2R (Provision of annual report).]21 |
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2. |
The information on SFTs and total return swaps shall include the data provided for in Section A of the Annex. |
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[Note: article 13(1) and 13(2) of the Securities Financing Transactions Regulation and article 3 for relevant definitions] |