Paragraph 3 Financial Services and Markets Act 2000 (Appointed Representatives) Regulations 2001

in paragraph (1)(a) M2 for “or relevant investments” substitute “ , relevant investments or structured deposits ”;

in paragraph (1A) M3, for “an EEA investment firm or an EEA credit institution” substitute “ a person who has a Part 4A permission for the purposes of the capital requirements directive or the markets in financial instruments directive, an EEA investment firm, or an EEA credit institution ”; and

in paragraph (1B) M4, for “1.10 and 1.17” substitute “ 1.9 and 1.15 ”.

in the closing words of paragraph (2) M5 for “or a relevant investment” substitute “ , a relevant investment or a structured deposit ”.

for paragraph (6) M6 substitute—

“(6)

In the case of a representative to whom section 39(1A) or (1AA) of the Act applies (“R”), it is a prescribed requirement for the purposes of section 39(1)(a)(ii), except where paragraph (1A) applies, that the contract between the principal and R must—

(a)

where section 39(1A) of the Act applies to R, contain a provision that R is only permitted to provide the services and carry on the activities referred to in Article 4.1.29 (definitions) of the markets in financial directive while R is entered on the applicable register; or

(b)

where section 39(1AA) of the Act applies to R, contain a provision that R is only permitted to sell, or advise clients on, structured deposits as defined by Article 4.1.43 of that directive while R is entered on the applicable register.”.