GEN 4.1 Application

Who? What?

GEN 4.1.1R

1This chapter applies to every firm and with respect to every regulated activity, except that:

  1. (1)

    for an incoming ECA provider, this chapter does not apply when the firm is acting as such;

  2. (2)

    for an incoming EEA firm which has permission only for cross-border services and which does not carry on regulated activities in the United Kingdom, this chapter does not apply;

  3. (3)

    for an incoming firm not falling under (1) or (2), this chapter does not apply to the extent that the firm is subject to equivalent rules imposed by its Home State;

    2
  4. (4)

    for a UCITS qualifier, this chapter does not apply; and2

  5. (5)

    only GEN 4.5 (Statements about authorisation and regulation by the appropriate regulator)5 applies in relation to MiFID or equivalent third country business and only where that MiFID or equivalent third country business is not business falling within paragraph 2 (Transactions between an MTF operator and its users), 3 (Transactions concluded on an MTF) or 4 (Transactions concluded on a regulated market) of Part 1 of COBS 1 Annex 1.32

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Where?

GEN 4.1.2R

GEN 4.3 (Letter disclosure) applies in relation to activities carried on from an establishment maintained by the firm (or by its appointed representative) in the United Kingdom, subject to GEN 4.3.4 R (Exception: insurers).

GEN 4.1.3R

GEN 4.4 (Business for private customers from non-UK offices) applies in connection with a regulated activity carried on from an establishment of the firm (or its appointed representative) that is not in the United Kingdom.

GEN 4.1.4R

3GEN 4.5 (Statements about authorisation and regulation by the appropriate regulator5) applies in relation to activities carried on from an establishment maintained by the firm (or by its appointed representative) in the United Kingdom, provided that, in the case of the MiFID business of an EEA MiFID investment firm or the activities of an EEA UCITS management company,4 it only applies to business conducted within the territory of the United Kingdom.

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