Regulation 157 Article 84 (futures)

(1)

Article 84 (futures) is amended as follows.

(2)

In paragraph (1A)(d), (1B)(e) and (1C)(c)^f1, for “Section C of Annex I to the markets in financial instruments directive” substitute “Part 1 of Schedule 2”.

(3)

In paragraph (1CA)^f2—

(a)

for “Section C of Annex I to the markets in financial instruments directive” substitute “Part 1 of Schedule 2”;

(b)

for “the texts of which are set out in Parts 1 and 2 of Schedule 2” substitute “the text of which is set out in Part 2 of Schedule 2”.

(4)

In paragraph (1D)^f3, for sub-paragraphs (a) to (d) substitute—

“(a)
an investment firm or qualifying credit institution is providing or performing investment services and activities on a professional basis,

(b)
a management company which has a Part 4A permission to do so is providing the investment service specified in paragraph 4 or 5 of Part 3 of Schedule 2 or the ancillary service specified in paragraph 1 of Part 3A of that Schedule,

(c)
a market operator is providing the investment service specified in paragraph 8 or 9 of Part 3 of that Schedule, or

(d)
a full-scope UK AIFM which has a Part 4A permission to do so is providing the investment service specified in paragraph 1, 4 or 5 of Part 3 of that Schedule or the ancillary service specified in paragraph 1 of Part 3A of that Schedule.”.

(5)

Omit paragraph (1E)^f4.

Annotations

Footnotes

f1: Paragraph (1A), (1B) and (1C) were inserted by S.I. 2006/3384 and amended by S.I. 2017/488.
f2: Paragraph (1CA) was inserted by S.I. 2017/488.
f3: Paragraph (1D) was inserted by S.I. 2006/3384 and was amended by S.I. 2011/1613 and S.I. 2017/488.
f4: Paragraph (1E) was inserted by S.I. 2006/3384 and was amended by S.I. 2017/488.