Section 1(4)

After point (2A) insert— ‘designated investment firm’ means an investment firm that is for the time being designated by the PRA under article 3 of the Financial Services and Markets Act 2000 (PRA-regulated Activities) Order 2013 (S.I. 2013/556), but is not— a commodity and emission allowance dealer, a collective investment undertaking, or an insurance undertaking; ‘FCA investment firm’ means an investment firm that— is an authorised person within the meaning of section 31(1)(a) of FSMA, and is not a designated investment firm;

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Source: legislation.gov.uk · retrieved 2026-09-04