CAD investment firm

153

a firm that is subject to the requirements imposed by MiFID (or which would be subject to that Directive if its head office were in an EEA State) but excluding a bank, a building society, a credit institution, a local firm211 and an exempt CAD firm that meets the following conditions:

1. (a) it is a firm as defined in article 4(1)(2)(c) of the EU CRR;
1. (b) it is authorised to provide one or more the following investment services:
   1. (i) (execution of orders on behalf of clients;
   1. (ii) portfolio management; and
1. (c) it may provide one or more of the following investment services:
   1. (i) reception and transmission of orders in relation to one or more financial instruments;
   1. (ii) investment advice.