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Application provision

5.1 This Chapter:

  1. (1) subject to (2), applies to: 
    1. (a) every firm and with respect to every regulated activity
    2. (b) activities carried on from an establishment maintained by the firm (or by its appointed representative) in the UK, provided that, in the case of the MiFID business of an incoming EEA firm, it only applies to business conducted within the territory of the UK
    3. (c) communicating with a customer.
  2. (2) does not apply to: 
    1. (a) an incoming ECA provider when the firm is acting as such; 
    2. (b) an incoming EEA firm which has permission only for cross border services and which does not carry on regulated activities in the UK
    3. (c) an incoming firm not falling under (a) or (b), to the extent that the firm is subject to equivalent rules imposed by its home Member State
    4. (d) MiFID or equivalent third country business that is a transaction:
      1. (i) between an MTF operator and a member of participant in relation to the use of the MTF;
      2. (ii) concluded under the rules governing an MTF between members or participants of the MTF, unless the member or participant is, acting on its client’s behalf, executing the client’s orders on an MTF; or
      3. (iii) concluded on a regulated market by members or participants of the regulated market, unless the member or participant is, acting on its client’s behalf, executing the client’s orders on a regulated market.

5.1

02/04/2015

This Chapter:

  1. (1) subject to (2), applies to: 
    1. (a) every firm and with respect to every regulated activity
    2. (b) activities carried on from an establishment maintained by the firm (or by its appointed representative) in the UK, provided that, in the case of the MiFID business of an incoming EEA firm, it only applies to business conducted within the territory of the UK
    3. (c) communicating with a customer.
  2. (2) does not apply to: 
    1. (a) an incoming ECA provider when the firm is acting as such; 
    2. (b) an incoming EEA firm which has permission only for cross border services and which does not carry on regulated activities in the UK
    3. (c) an incoming firm not falling under (a) or (b), to the extent that the firm is subject to equivalent rules imposed by its home Member State
    4. (d) MiFID or equivalent third country business that is a transaction:
      1. (i) between an MTF operator and a member of participant in relation to the use of the MTF;
      2. (ii) concluded under the rules governing an MTF between members or participants of the MTF, unless the member or participant is, acting on its client’s behalf, executing the client’s orders on an MTF; or
      3. (iii) concluded on a regulated market by members or participants of the regulated market, unless the member or participant is, acting on its client’s behalf, executing the client’s orders on a regulated market.

5.2

02/04/2015

A firm must not indicate or imply that it is authorised by the PRA in respect of business for which it is not so authorised.

5.3

02/04/2015

A firm must not indicate or imply that it is regulated or otherwise supervised by the PRA in respect of business for which it is not regulated by the PRA.