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Term Definition Legal instruments

non-directive firm


(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 the Banking Consolidation Directive;

(2) an investment firm authorised under MiFID II;

(3) a management company as defined in article 2(1)(b) of the European Parliament and Council Directive of 13 July 2009 on the coordination of laws, regulations and administrative provisions relating to undertakings for collective investment in transferable securities (UCITS) (No 2009/65/EC),1 2, 3, 4, as amended (the UCITS Directive), authorised under that directive;

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