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Term Definition Legal instruments

non-directive firm


The changes to this defined term are effective from 23:00 on 31/12/2020.

means (in accordance with the Financial Services and Markets Act 2000 (Controllers)(Exemption) Order 2009 (SI 2009/774)) a UK domestic firm other than:

(1) a credit institution authorised under provisions which implemented the Banking Consolidation Directive;

(2) an investment firm authorised under provisions which implemented MiFID II;

(3) a management company as defined in article 2(1)(b) of the UCITS Directive, authorised under provisions which implemented that directive;

(4) a UK Solvency II firm, the Society and managing agents.