Relevant European Regulation Flashcards
1
Q
Activities passported under MIFID
A
Core Activities
- Reception and Transmission of orders
- Execution of orders
- Portfolio Management
- Investment advice
- Underwriting and placing
- Operating an MTF or OTF
2
Q
Ancillary Activities (MIFID)
A
Cannot be passported in their own right (support activities for MIFID )
- Management of cash and collateral
- Loans to carry out transactions
- Foreign Exchange Services
- Investment Research and Financial analysis
- Services in relation to underwriting
3
Q
Investments passported under MIFID
A
- Transferable Securities
- Units in Collective Investment Schemes
- Money Market Instruments
- Derivatives on securities, currencies, interest rates or yields
- Commodity derivatives
- Credit derivatives
- Financial CFDs
- Exotic Derivatives (e.g. weather, carbon emissions)
4
Q
UCITS Directive
A
Undertaking for Collective Investments in transferable securities
Regulated collective investment scheme may apply to FCA for UCITS status
Then can be marketed throughout EEA
5
Q
Markets in financial Instruments Directive (MIFID)
A
- market with harmonised rules
- Allows firms within EEA to open branches and cross border sell
- EEA = EU + Norway + Iceland + Lichtenstein
6
Q
AIFMD (Alternative investment fund Managers directive)
A
Aims regulate (hedge) fund manager
- Allow cross border
if authorised by regulator in EU
Being outside the EU if meet regulatory requirements
7
Q
European Markets Infrastructure Regulation ( EMIR)
A
Regulation of OTC derivatives
