Section 424A Investment firmF1

United Kingdom

(1)

In this Act F2(except as otherwise provided), “investment firm” has the meaning given in F3paragraph 2.1A of the markets in financial instruments regulation.

(2)

Subsection (1) is subject to F4subsection (5).

F5(3)

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(4)

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(5)

References in this Act to an “investment firm” do not include references to—

(F6a)

a person excluded from the definition of “investment firm” in Article 3(1) of the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001 (S.I. 2001/544) by paragraph (a) or (b) of that definition; or

(b)

a firm which has a Part 4A permission to carry on regulated activities as an exempt investment firm within the meaning of regulation 8 of the Financial Services and Markets Act 2000 (Markets in Financial Instruments) Regulations 2017 (S.I. 2017/701).

Annotations

Textual amendments

F1: S. 424A inserted (6.12.2006) by The Financial Services and Markets Act 2000 (Markets in Financial Instruments) (Modification of Powers) Regulations 2006 (S.I. 2006/2975), reg. 10
F2: Words in s. 424A(1) inserted (1.7.2021) by Financial Services Act 2021 (c. 22), s. 49(5), Sch. 2 para. 16 (with Sch. 2 Pt. 3); S.I. 2021/671, reg. 4(b)
F3: Words in s. 424A(1) substituted (31.12.2020) by The Financial Services and Markets Act 2000 (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/632), regs. 1(3), 90(2); 2020 c. 1, Sch. 5 para. 1(1)
F4: Words in s. 424A(2) substituted (31.12.2020) by The Financial Services and Markets Act 2000 (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/632), regs. 1(3), 90(3); 2020 c. 1, Sch. 5 para. 1(1)
F5: S. 424A(3)(4) omitted (31.12.2020) by virtue of The Financial Services and Markets Act 2000 (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/632), regs. 1(3), 90(4); 2020 c. 1, Sch. 5 para. 1(1)
F6: S. 424A(5)(a)(b) substituted (31.12.2020) by The Financial Services and Markets Act 2000 (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/632), regs. 1(3), 90(5); 2020 c. 1, Sch. 5 para. 1(1)