IFPRU 50K firm
- (a) it satisfies the conditions in IFPRU 1.1.9 R (1) (does not deal on own account or underwrite issues of financial instruments on a firm commitment basis) and IFPRU 1.1.9 R (3) (offers one or more of certain specified services);
- (b) it does not hold clients' money or securities in relation to investment services it provides and it is not authorised to do so;
- (c) it is not a collective portfolio management investment firm; and
- (d) it does not operate a multilateral trading facility.