The Financial Services and Markets Act 2000 (Regulated Activities) Order 2001

[F12.  This paragraph applies if—U.K.

(a)P's main business is not—

(i)the provision of investment services;

(ii)banking activities requiring permission under Part 4A of the Act (or banking activities which would require such permission if they were carried on in the United Kingdom); or

(iii)acting as a market-maker in relation to commodity derivatives;

(b)P does not apply a high-frequency algorithmic trading technique; and

(c)[F2P reports to the FCA under regulation 47 of the Financial Services and Markets Act 2000 (Markets in Financial Instruments) Regulations 2017], upon request, the basis on which P considers that P's activity under points (i) and (ii) is ancillary to P's main business.]