PART 3Amendments to the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001
Article 85 (contracts for differences etc)158
1
Article 85 (contracts for differences etc) is amended as follows.
2
In paragraph (3)(b)289, for “Section C of Annex I to the markets in financial instruments directive” substitute “Part 1 of Schedule 2”.
3
In paragraphs (4)290 and (4B)291, for sub-paragraphs (a) to (d) substitute—
a
an investment firm or qualifying credit institution is providing or performing investment services and activities on a professional basis,
b
a management company which has a Part 4A permission to do so is providing the investment service specified in paragraph 4 or 5 of Part 3 of Schedule 2 or the ancillary service specified in paragraph 1 of Part 3A of that Schedule,
c
a market operator is providing the investment service specified in paragraph 8 or 9 of Part 3 of that Schedule,
d
a full-scope UK AIFM which has a Part 4A permission to do so is providing the investment service specified in paragraph 1, 4 or 5 of Part 3 of that Schedule or the ancillary service specified in paragraph 1 of Part 3A of that Schedule.
4
In paragraph (4A)(c)292—
a
for “Section C of Annex I to the markets in financial instruments directive” substitute “Part 1 of Schedule 2”;
b
for “the texts of which are set out in Parts 1 and 2 of Schedule 2” substitute “the text of which is set out in Part 2 of Schedule 2”.
5
Omit paragraph (5)293.