Section 30(1B)

This paragraph applies if— P's main business is not— the provision of investment services; banking activities requiring permission under Part 4A of the Act (or banking activities which would require such permission if they were carried on in the United Kingdom); or acting as a market-maker in relation to commodity derivatives; P does not apply a high-frequency algorithmic trading technique; and P reports to the FCA under regulation 47 upon request the basis on which P considers that P’s activity under paragraph (1A)(e)(i) and (ii) is ancillary to P's main business.

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