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Repealed by LN. 2013/198 as from 1.1.2014 - page 9 / 94

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Financial Services (Investment and Fiduciary Services)

FINANCIAL SERVICES (CAPITAL ADEQUACY OF INVESTMENT FIRMS) REGULATIONS 2007

(c)

is subject to and complies with the prudential rules considered by the Authority as at least as stringent as those laid down in

these Regulations;

securitisation position

and

re-securitisation

position”

mean,

respectively, securitisation position and re-securitisation position as defined in the Financial Services (Capital Adequacy of Credit Institutions) Regulations 2007;

“subsidiary undertaking” means an undertaking over which, in the opinion of the Authority, a parent undertaking effectively exercises a dominant influence and for this purpose all subsidiaries of subsidiary undertakings shall also be considered subsidiaries of the undertaking which is their original parent.

(2) For the purposes of these Regulations

  • (a)

    a category 1 investment firm is one to which regulation 5(8) applies;

  • (b)

    a category 2 investment firm is one to which regulation 5(1) applies; and

(c)

a category 3 investment firm is one to which regulation 5(2) applies.

(3)

Expressions used in these Regulations which are also used in the

Financial purposes

Services Acts 1989 of these Regulations

and 1998 shall have the same meaning for the as they have for the purposes of those Acts.

Application of these Regulations.

3.(1) Subject to regulations 14, 16, 18 to 28, 30 and 34, regulations 16 to 21 of the FSCACI Regulations shall apply mutatis mutandis to investment firms.

(2)

In applying regulations 18 to 20 of the FSCACI Regulations to

investment

firms,

every

reference

to

a

parent

credit

institution

in

an

EEA

State shall be construed as State and every reference construed as a reference to

a reference to a parent investment firm in to a European parent credit institution a European parent investment firm.

an EEA shall be

(3)

Where a credit institution

investment

firm

in

an

EEA

State,

has, only

as a parent undertaking, a parent that parent investment firm shall be

© Government of Gibraltar (www.gibraltarlaws.gov.gi)

1989-47

Repealed Subsidiary 2007/002

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