{
  "url": "https://openlegislation.uk/draft-financial-services-and-markets-act-2000-regulated-activities-amendment-order-2017/article-9",
  "json_url": "https://openlegislation.uk/draft-financial-services-and-markets-act-2000-regulated-activities-amendment-order-2017/article-9.json",
  "legislation": "ukdsi/2017/9780111154168",
  "legislation_title": "The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2017",
  "legislation_url": "https://openlegislation.uk/draft-financial-services-and-markets-act-2000-regulated-activities-amendment-order-2017",
  "path": "article/9",
  "kind": "article",
  "number": "9",
  "heading": "Amendments to article 85 of the Order: contracts for differences",
  "text": "(1) Article 85 of the Order (contracts for differences etc.) is amended as follows.\n(2) In paragraph (4)—\n(a) omit “or” at the end of sub-paragraph (b);\n(b) in sub-paragraph (c), for “paragraph 8” substitute “paragraph 8 or 9”;\n(c) after sub-paragraph (c) insert—\n“, or\n(d) an AIFM is providing, in accordance with Article 6.4 of the alternative investment fund managers directive the investment service specified in paragraph 1, 4 or 5 of Section A, or the ancillary service specified in paragraph 1 of Section B, of Annex I to the markets in financial instruments directive.”.\n(3) After paragraph (4) insert—\n“(4A) Subject to paragraph (4B), a derivative contract of a binary or other fixed outcomes nature—\n(a) to which paragraph (1) does not apply;\n(b) which is settled in cash; and\n(c) which is a financial instrument to which paragraph 4, 5, 6, 7 or 10 of Section C of Annex I to the markets in financial instruments directive read with Articles 5 to 8 and 10 of the Commission Regulation (the texts of which are set out in Parts 1 and 2 of Schedule 2) applies.\n(4B) Paragraph (4A) only applies to derivatives in relation to which—\n(a) an investment firm or credit institution is providing or performing investment services and activities on a professional basis,\n(b) a management company is providing, in accordance with Article 6.3 of the UCITS directive, the investment service specified in paragraph 4 or 5 of Section A, or the ancillary service specified in paragraph 1 of Section B, of Annex I to the markets in financial instruments directive,\n(c) a market operator is providing the investment service specified in paragraph 8 or 9 of Section A of Annex I to the markets in financial instruments directive,\n(d) an AIFM is providing, in accordance with Article 6.4 of the alternative investment fund managers directive the investment service specified in paragraph 1, 4 or 5 of Section A, or the ancillary service specified in paragraph 1 of Section B, of Annex I to the markets in financial instruments directive, or\n(e) a person is carrying on the activity specified by article 25(2).”.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "footnote",
      "label": "f1",
      "text": "Article 85 was amended by S.I. 2006/3384 and 2011/1613."
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukdsi/2017/9780111154168/article/9",
    "retrieved_at": "2026-10-30T15:06:53.865504+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}