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.