COMP 6.2 Who is a relevant person?
A relevant person is a person who was, at the time the act or omission giving rise to the claim against it took place:
- (1)
a participant firm; or
- (2)
an appointed representative of a participant firm.
An incoming EEA firm, which is a credit institution, an IMD insurance intermediary, an ISD investment firm or a UCITS management company, and its appointed representatives are not relevant persons in relation to the firm's passported activities, unless it has top-up cover (and in the case of a UCITS management company, only in relation to managing investments (other than of a collective investment scheme), advising on investments or safeguarding and administering investments). (See definition of "participant firm").21
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