Financial Services (Investment and Fiduciary Services)
Repealed Subsidiary 2007/002
FINANCIAL SERVICES (CAPITAL ADEQUACY OF INVESTMENT
FIRMS) REGULATIONS 2007 subject to requirements on a consolidated basis in accordance with regulations 19 to 21 of the FSCACI Regulations.
references in paragraph 7 of Schedule 2 to Directive 2006/48/EC shall be read as references to Directive 2000/12/EC as it stood prior to the 1 January 2007;
paragraph 4 of Schedule 2 shall apply as it stood prior to the 1 January 2007.
(4) Where an investment firm has, as a parent undertaking, a parent credit institution in an EEA State, only that parent credit institution shall be subject to requirements on a consolidated basis in accordance with regulations 19 to 21 of the FSCACI Regulations.
(5) When a group covered by sub-regulations (3) and (4) does not include a credit institution, the FSCACI Regulations shall apply in a manner such as that every reference to a credit institution shall be construed as a reference to an investment firm.
mutatis mutandis for the
to (14) purposes
of the FSCACI Regulations of these Regulations subject to
shall apply paragraphs
which shall apply where the discretion FSCACI Regulations is exercised–
4. The Authority shall be the competent authority for the purposes of the recast Directive and the Minister shall ensure that the EBA and the European Commission are informed accordingly.
PART II Capital requirements
Obligation to hold initial capital.
instruments for its own account
firm which does not deal in any financial or underwrites issues of financial instruments
on a firm commitment which offers–
the reception and transmission of investors’ orders for financial instruments; or
the execution of investors’ orders for financial instruments; or