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Status: You are viewing the version of the handbook as on 2016-06-30.

COMP 6.2 Who is a relevant person?

COMP 6.2.1R

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. (1)

    a participant firm; or

  2. (2)

    an appointed representative of a participant firm.

COMP 6.2.2G
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  1. (1)

    An incoming EEA firm, which is a credit institution, an IMD insurance intermediary or a MiFID investment firm, and its appointed representatives are not relevant persons in relation to the firms's passported activities, unless it has top-up cover. (See definition of "participant firm").5

  2. (2)

    An EEA UCITS management company providing collective portfolio management services for a UCITS scheme from a branch in the United Kingdom or under the freedom to provide cross border services, is a relevant person to the extent that it carries on those services.5

  3. (3)

    An EEA UCITS management company carrying on the activities of managing investments (other than collective portfolio management), advising on investments or safeguarding and administering investments, is not a relevant person in relation to those activities, unless it has top-up cover.5

  4. (4)

    An incoming EEA AIFM managing an authorised AIF from a branch in the UK or under the freedom to provide cross-border services, is a relevant person in respect of that activity.6

  5. (5)

    An incoming EEA AIFM managing an unauthorised AIF is not a relevant person in respect of that activity unless it has top-up cover.6

  6. (6)

    An incoming EEA AIFM providing the services in article 6(4) of AIFMD is not a relevant person in relation to those activities, unless it has top-up cover.6