Section 14(2)

For the purposes of paragraph (1) a communication is made in the course of exercising rights under Title 8 of the markets in financial instruments regulation if it is made— by a third country firm registered with the FCA to eligible counterparties or to clients considered to be professionals in the course of exercising rights under Article 46.1 (general provisions) of the Regulation; or by a third country firm to eligible counterparties or to clients considered to be professionals in the course of exercising rights under Article 46.5 of the Regulation provided that— the counterparty or client has initiated at his or her own exclusive initiative the provision by the firm of an investment service or activity under that Article to the counterparty or client; and the communication is in respect of the investment service or activity; ... . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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