Part X Rules and Guidance
Chapter I Rule-making Powers
C1C2C3138 General rule-making power.
C4C5C6C7C8C9C101
The Authority may make such rules applying to authorised persons—
a
with respect to the carrying on by them of regulated activities, or
b
with respect to the carrying on by them of activities which are not regulated activities,
as appear to it to be necessary or expedient for the purpose of F1meeting any of its regulatory objectives.
F2C4C5C6C7C8C9C101A
The Authority may also make such rules applying to authorised persons who are investment firms or credit institutions, with respect to the provision by them of a relevant ancillary service, as appear to the Authority to be necessary or expedient for the purpose of F1meeting any of its regulatory objectives.
1B
“Credit institution” means—
a
a credit institution authorised under the banking consolidation directive, or
b
an institution which would satisfy the requirements for authorisation as a credit institution under that directive if it had its registered office (or if it does not have a registered office, its head office) in an EEA State.
1C
”Relevant ancillary service” means any service of a kind mentioned in Section B of Annex I to the markets in financial instruments directive the provision of which does not involve the carrying on of a regulated activity.
2
Rules made under this section are referred to in this Act as the Authority’s general rules.
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C114
The Authority’s general rules may make provision applying to authorised persons even though there is no relationship between the authorised persons to whom the rules will apply and the persons whose interests will be protected by the rules.
C115
General rules may contain requirements which take into account, in the case of an authorised person who is a member of a group, any activity of another member of the group.
6
General rules may not—
a
make provision prohibiting an EEA firm from carrying on, or holding itself out as carrying on, any activity which it has permission conferred by Part II of Schedule 3 to carry on in the United Kingdom;
b
make provision, as respects an EEA firm, about any matter responsibility for which is, under any of the single market directives, reserved to the firm’s home state regulator.
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