Article 415 Meaning of “relevant investment”I1

Regulation 16 of the Financial Markets and Insolvency Regulations 1991 (circumstances in which member or designated non-member dealing as principal to be treated as acting in different capacities) is amended as follows.

For paragraph (1)(a)(i) substitute—

“(i)

which is a relevant investment; and”.

After paragraph (2) insert—

“(3)

In paragraph (1)(a)(i) “relevant investment” means an investment of one of the following kinds—

(a)

options;

(b)

futures;

(c)

contracts for differences;

(d)

rights to or interests in an investment of a kind mentioned in sub-paragraphs (a) to (c).

(4)

Paragraph (3) must be read with—

(a)

section 22 of the Financial Services and Markets Act 2000;

(b)

any relevant order under that section; and

(c)

Schedule 2 to that Act.”.