(1)In this Act, “investment firm” has the meaning given in Article 4.1.1 of the markets in financial instruments directive.
(2)Subsection (1) is subject to subsections (3) to (5).
[F2(3)References in this Act to an “investment firm” include references to a person who would be an investment firm (within the meaning of Article 4.1.1 of the markets in financial instruments directive) if—
(a)in the case of a body corporate, his registered office or, if he has no registered office, his head office, and
(b)in the case of a person other than a body corporate, his head office,
were in an EEA State.]
(4)But subsection (3) does not apply if the person in question is one to whom the markets in financial instruments directive would not apply by virtue of Article 2 of that directive.
(5)References in this Act to an “investment firm” do not include references to—
(a)a person to whom the markets in financial instruments directive does not apply by virtue of Article 2 of the directive; or
(b)a person whose home Member State (within the meaning of Article 4.1.20 of the markets in financial instruments directive) is an EEA State and to whom, by reason of the fact that the State has given effect to Article 3 of that directive, that directive does not apply by virtue of that Article.]]
Textual Amendments
F1S. 424A inserted (6.12.2006) by The Financial Services and Markets Act 2000 (Markets in Financial Instruments) (Modification of Powers) Regulations 2006 (S.I. 2006/2975), reg. 10
F2S. 424A(3) substituted (1.4.2007 for certain purposes and 1.11.2007 otherwise) by The Financial Services and Markets Act 2000 (Markets in Financial Instruments) Regulations 2007 (S.I. 2007/126), regs. 1(2), 3(5), Sch. 5 para. 21