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Application provision

1.1 Unless otherwise stated, this Part applies to a CRR firm

  1. (1) with respect to the carrying on of the following from an establishment in the UK:
    1. (a) regulated activities;
    2. (b) activities that constitute dealing in investments as principal, disregarding the exclusion in article 15 of Regulated Activities Order;
    3. (c) ancillary activities;
    4. (d) in relation to MiFID business, ancillary services; and
    5. (e) unregulated activities in a prudential context;
  2. (2) with respect to the carrying on of passported activities by it from a branch in another EEA state;
  3. (3) in a prudential context with respect to activities wherever they are carried on; and
  4. (4) taking into account any activity of other members of a group of which the firm is a member.

3.1A

03/01/2018

A MiFID investment firm must extend the arrangements required by the Article 24 Audit Requirements so they apply with respect to other matters on the following basis:

  1. (1) references to “investment services and activities” are financial services and activities;
  2. (2) references to “relevant persons” are references to relevant persons; and
  3. (3) references to “Article 25(2)” are references to General Organisational Requirements 4.1A.

3.2

03/01/2018

A firm that is not a MiFID investment firm must comply with the Article 24 Audit Requirements on the basis set out in 3.1A and as if references to “investment firm” refer to a firm.