The Investment Services Regulations 1995

1. Introductory Text

2. PART I GENERAL

   1. 1. Citation and commencement

   2. 2. Interpretation: general

3. PART II RECOGNITION IN UK OF EUROPEAN INVESTMENT FIRMS

   1. Preliminary

      1. 3. European investment firms

      2. 4. Authorised services

   2. Effect of recognition

      1. 5. Authorisations and licences not required

      2. 6. Procedural requirements for carrying on listed services

   3. Effect of non-recognition

      1. 7. Prohibition on carrying on certain listed services

   4. Functions of Board

      1. 8. Duty to prepare for supervision

      2. 9. Power to prohibit the provision of listed services

      3. 10. Power to restrict provision of listed services

      4. 11. Limitations on Board’s powers

      5. 12. Obligation of Board where investment firm ceases to be a European investment firm etc.

   5. Functions of the Bank

      1. 13. Duty to prepare for supervision

      2. 14. Obligation of Bank where investment firm ceases to be a European investment firm etc.

   6. Functions of Director

      1. 15. Power to prohibit the carrying on of Consumer Credit Act business

      2. 16. Power to restrict the carrying on of Consumer Credit Act business

4. PART III RELATIONS WITH THIRD COUNTRIES

   1. 17. Treasury directions for implementing certain EC decisions

5. PART IV RECOGNITION IN OTHER EEA STATES OF UK INVESTMENT FIRMS

   1. Preliminary

      1. 18. UK investment firms

      2. 19. Authorised services

   2. Procedural requirements

      1. 20. Procedural requirements for carrying on certain listed services

6. PART V AMENDMENTS OF FINANCIAL SERVICES ACT

   1. 21. Authorisation by membership of recognised self-regulating organisations

   2. 22. Applications for authorisation

   3. 23. Grant and refusal of authorisation

   4. 24. Authorisation in other EEA State

   5. 25. Certain EEA regulated markets

   6. 26. Exempted persons

   7. 27. Appointed representatives

   8. 28. Statement of services covered by authorisation

   9. 29. Reciprocal facilities for investment business

   10. 30. Exemption from liability for damages

   11. 31. Recognised professional bodies

   12. 32. Other amendments of Financial Services Act

   13. 33. Construction of Part V

7. PART VI AMENDMENTS OF CONSUMER CREDIT ACT

   1. 34. Effect of standard licence

   2. 35. Grant of standard licence

   3. 36. Conduct of business

   4. 37. The register

   5. 38. Enforcement of agreements

   6. 39. Restrictions on disclosure of information

   7. 40. Power to modify subordinate legislation in relation to European investment firms

8. PART VII NOTIFICATION OF CONTROLLERS

   1. 41. Notification of new or increased control

   2. 42. Objection to new or increased control

   3. 43. Contraventions of regulation 41

   4. 44. Restrictions on voting rights

   5. 45. Prior notification of ceasing to be a relevant controller

   6. 46. Construction of Part VII

   7. 47. Prosecution of offences under Part VII

9. PART VIII MISCELLANEOUS

   1. 48. Restrictions on disclosure of information

   2. 49. Regulated markets

   3. 50. Power of Board to give directions

   4. 51. Board’s power to obtain information from group members

   5. 52. Powers of entry

   6. 53. Contravention of regulation 51 or 52

   7. 54. Directions to the Bank

   8. 55. Position of European subsidiaries

10. PART IX SUPPLEMENTAL

    1. 56. The Board’s functions under the Regulations

    2. 57. Minor and consequential amendments

    3. 58. Transitional provisions and savings

11. Signature

12. SCHEDULES:

    1. Schedule 1

       Annex to the Investment Services Directive.

    2. Schedule 2

       Article 2.2 of the Investment Services Directive.

    3. Schedule 3

       Requirements as respects European investment firms.

    4. Schedule 4

       Prohibitions by the Board.

    5. Schedule 5

       Prohibitions and restrictions by the Director.

    6. Schedule 6

       Requirements as respects UK authorised investment firms.

    7. Schedule 7

       Other amendments of Financial Services Act.

    8. Schedule 8

       Article 25 of the Investment Services Directive.

    9. Schedule 9

       Position of European subsidiaries.

    10. Schedule 10

        Minor and consequential amendments.

    11. Schedule 11

        Transitional provisions and savings.

13. Explanatory Note