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You are viewing the Rulebook in the present on 29/04/2025
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(A) In the PRA Handbook:any of the services listed in Section B of Annex I to MiFID, that is:(a) safekeeping and administration of financial instruments for the account of clients, including custodianship and related services such as cash/collateral management;(b) granting credits or loans to an investor to allow him to carry out a transaction in one or more financial instruments, where the firm granting the credit or loan is involved in the transaction;(c) advice to undertakings on capital structure, industrial strategy and related matters and advice and services relating to mergers and the purchase of undertakings;(d) foreign exchange services where these are connected to the provision of investment services;(e) investment research and financial analysis or other forms of general recommendation relating to transactions in financial instruments;(f) services related to underwriting; and(g) investment services and activities as well as ancillary services within (a) to (f), above, related to the underlying of the derivatives included under Section C - 5, 6, 7 and 10, that is (in accordance with that Annex and Recital 21 to, and Article 39 of, the MiFID Regulation):[Note: article 4(1)(3) of MiFID](i) commodities;(ii) climatic variables;(iii) freight rates;(iv) emission allowances;(v) inflation rates or other official economic statistics;(vi) telecommunications bandwidth;(vii) commodity storage capacity;(viii) transmission or transportation capacity relating to commodities, where cable, pipeline or other means;(ix) an allowance, credit, permit, right or similar asset which is directly linked to the supply, distribution or consumption of energy derived from renewable resources;(x) a geological, environmental or other physical variable;(xi) any other asset or right of a fungible nature, other than a right to receive a service, that is capable of being transferred;(xii) an index or measure related to the price or value of, or volume of transactions in any asset, right, service or obligation;where these are connected to the provision of investment services or ancillary services.(B) In the FCA Handbook:(1) (except in CONC) any of the services listed in Section B of Annex I to MiFID, that is:(a) safekeeping and administration of financial instruments for the account of clients, including custodianship and related services such as cash/collateral management;(b) granting credits or loans to an investor to allow him to carry out a transaction in one or more financial instruments, where the firm granting the credit or loan is involved in the transaction;(c) advice to undertakings on capital structure, industrial strategy and related matters and advice and services relating to mergers and the purchase of undertakings;(d) foreign exchange services where these are connected to the provision of investment services;(e) investment research and financial analysis or other forms of general recommendation relating to transactions in financial instruments;(f) services related to underwriting; and(g) investment services and activities as well as ancillary services within (a) to (f), above, related to the underlying of the derivatives included under Section C - 5, 6, 7 and 10, that is (in accordance with that Annex and Recital 21 to, and Article 39 of, the MiFID Regulation):[Note: article 4(1)(3) of MiFID](i) commodities;(ii) climatic variables;(iii) freight rates;(iv) emission allowances;(v) inflation rates or other official economic statistics;(vi) telecommunications bandwidth;(vii) commodity storage capacity;(viii) transmission or transportation capacity relating to commodities, where cable, pipeline or other means;(ix) an allowance, credit, permit, right or similar asset which is directly linked to the supply, distribution or consumption of energy derived from renewable resources;(x) a geological, environmental or other physical variable;(xi) any other asset or right of a fungible nature, other than a right to receive a service, that is capable of being transferred;(xii) an index or measure related to the price or value of, or volume of transactions in any asset, right, service or obligation;where these are connected to the provision of investment services or ancillary services.(2) (in CONC) a service that relates to entering into a regulated credit agreement as lender and includes, in particular, an insurance or payment protection policy.