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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.

3.1

03/01/2018

The senior personnel of a firm must be of sufficiently good repute and sufficiently experienced as to ensure the sound and prudent management of the firm.

Additional Notes


[Note: Art. 9(4) of MiFID II, Art. 91(1) of the CRD]

3.2

03/01/2018

A firm must ensure that its management is undertaken by at least two persons meeting the requirements laid down in 3.1.

Additional Notes


[Note: Art. 9(6) first paragraph of MiFID II and Art. 13(1) of the CRD]