“ The single market directives ” means— (a) the capital requirements directive ; (c) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (ca) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (d) the markets in financial instruments directive ; ... (e) the insurance distribution directive ; ... (f) the UCITS directive ; ... (g) the alternative investment fund managers directive ; and (h) the mortgages directive.
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“The insurance distribution directive” means Directive (EU) 2016/97 of the European Parliament and of the Council of 20 January 2016 on insurance distribution (recast) as amended by Directive (EU) 2018/411 of the European Parliament and of the Council of 14 March 2018 .
“ The UCITS directive ” means the Directive of the European Parliament and of the Council of 13 July 2009 on the coordination of laws, regulations and administrative provisions relating to undertakings for collective investment in transferable securities (No 2009/65/ EC ) , as amended by Directive 2014/91/EU of the European Parliament and of the Council of 23rd July 2014 .
“The markets in financial instruments directive” means Directive 2014/65/EU of the European Parliament and of the Council of 15 May 2014 on markets in financial instruments.
The emission allowance auctioning regulation
“The emission allowance auctioning regulation” means Commission Regulation ( EU ) No 1031/2010 of 12 November 2010 on the timing, administration and other aspects of auctioning of greenhouse gas emission allowances pursuant to Directive 2003/87/ EC of the European Parliament and of the Council of 13 October 2003 establishing a scheme for greenhouse gas emission allowance trading within the Community.
“The alternative investment fund managers directive” means Directive 2011/61/ EU of the European Parliament and of the Council of 8 June 2011 on Alternative Investment Fund Managers.
“The mortgages directive” means Directive 2014/17/ EU of the European Parliament and of the Council of 4th February 2014 on credit agreements for consumers relating to residential immovable property and amending Directives 2008/48/ EC and 2013/36/ EU and Regulation ( EU ) No 1093/2010.
“ EEA firm ” means any of the following if it does not have its relevant office in the United Kingdom— (a) an investment firm (as defined in Article 4.1.1 of the markets in financial instruments directive ) which is authorised (within the meaning of Article 5 ) by its home state regulator; (b) a credit institution (as defined in Article 4(1)(1) of the capital requirements regulation) which is authorised (within the meaning of Article 8 of the capital requirements directive) by its home state regulator; (c) a financial institution (as defined in Article 4(1)(26) of the capital requirements regulation) which is a subsidiary of the kind mentioned in Article 34 of the capital requirements directive and which fulfils the conditions of that Article; (d) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (da) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (e) an insurance intermediary (as defined in Article 2.1(3) of the insurance distribution directive), an ancillary insurance intermediary (as defined in Article 2.1(4) of that directive) or a reinsurance intermediary (as defined in Article 2.1(5) of that directive), which is registered with its home state regulator under Article 3 of that directive; (f) a management company (as defined in paragraph 11B) which is authorised (within the meaning of Article 6 of the UCITS directive) by its home state regulator ; ... (g) a person who has received authorisation under Article 18.2 of the emission allowance auctioning regulation ; ... (h) an AIFM (as defined in Article 4.1(b) of the alternative investment fund managers directive) which is authorised (in accordance with Article 6.1 of that directive) by its home state regulator ; or (i) a mortgage intermediary which is admitted (in accordance with Article 29(1) of the mortgages directive) by its home state regulator to carry out all or part of the credit intermediation activities set out in Article 4(5) of that directive or to provide advisory services (as defined in Article 4(21) of that directive).
In paragraph 5, “ relevant office ” means— (a) in relation to a firm falling within sub-paragraph (e) or (i) of that paragraph which has a registered office, its registered office; (aa) in relation to a firm falling within sub-paragraph (h) of that paragraph, its registered office; (b) in relation to any other firm, its head office.
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“ EEA right ” means the entitlement of a person to establish a branch, or provide services, in an EEA State other than that in which he has his relevant office — (a) in accordance with the Treaty as applied in the EEA; and (b) subject to the conditions of the relevant single market directive or, as the case may be, the emission allowance auctioning regulation .
In paragraph 7, “ relevant office ” means— (a) in relation to a person who has a registered office and whose entitlement is subject to the conditions of the insurance distribution directive or the mortgages directive , his registered office; (aa) in relation to a person whose entitlement is subject to the conditions of the alternative investment fund managers directive, its registered office; (b) in relation to any other person, his head office.
“ EEA State ” has the meaning given by Schedule 1 to the Interpretation Act 1978.
“ Home state regulator ” means the competent authority (within the meaning of the relevant single market directive or, as the case may be, the emission allowance auctioning regulation ) of an EEA State (other than the United Kingdom) in relation to the EEA firm concerned.
“ UK firm ” means a person whose relevant office is in the UK and who has an EEA right to carry on activity in an EEA State other than the United Kingdom.
In paragraph 10, “ relevant office ” means— (a) in relation to a firm whose EEA right derives from the insurance distribution directive and which has a registered office, its registered office; (aa) in relation to a firm whose EEA right derives from the alternative investment fund managers directive, its registered office; (b) in relation to any other firm, its head office.
” UK investment firm” means a UK firm— (a) which is an investment firm, and (b) whose EEA right derives from the markets in financial instruments directive.
“ Host state regulator ” means the competent authority (within the meaning of the relevant single market directive or, as the case may be, the emission allowance auctioning regulation ) of an EEA State (other than the United Kingdom) in relation to a UK firm’s exercise of EEA rights there.
”Tied agent” has the meaning given in Article 4.1.29 of the markets in financial instruments directive.
“ Management company ” has the meaning given in Article 2.1(b) of the UCITS directive.
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Application for approval to manage UCITS
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Representations and references to the Tribunal
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Information to home state regulator
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Grant of permission: bidding for emission allowances
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Notice of intention to market a UCITS
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Information for host state regulator
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UK management companies: delegation of functions
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UK management companies: withdrawal of authorisation
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Management companies: request for information
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Provisions on this page are reproduced verbatim from official open data. See the attribution line.
Contains public sector information licensed under the Open Government Licence v3.0 (legislation.gov.uk).