Meaning of “exempt investment firm” in Chapter 1U.K.
This section has no associated Explanatory Memorandum
8. In this Chapter “exempt investment firm” means an authorised person who—
(a)is an investment firm; and
(b)has a Part 4A permission;
[F1but to whom the appropriate regulator has granted exemption from authorisation and operating conditions which usually apply to investment firms.]
Textual Amendments
F1Words in reg. 8 substituted (31.12.2020) by The Markets in Financial Instruments (Amendment) (EU Exit) Regulations 2018 (S.I. 2018/1403), regs. 1(3), 8(3) (with savings in S.I. 2019/680, reg. 11); 2020 c. 1, Sch. 5 para. 1(1)