Related provisions for SYSC 18.6.5
1 - 19 of 19 items.
10(1) The custody rules do not apply to a firm that is managing an AIF or managing a UK UCITS16 in relation to excluded custody activities, except where the firm is a small AIFM.10(2) The custody rules can apply to a firm that is managing an AIF or managing a UK UCITS16 in relation to activities that are not excluded custody activities. For example, where the firm:10(a) holds financial instruments belonging to a client in the course of its MiFID business (see CASS 6.1.1R (1A));
1A firm must retain the records required under CASS 8.3.1 R in relation to a particular mandate for the following period after it ceases to have the mandate (e.g. because the firm has destroyed the relevant document, electronic record or telephone recording), as applicable:(1) subject to (2), a minimum of one year; (2) a minimum of five years, where the relevant mandate was held by the firm in the course of, or in connection with, its MiFID business.
(1) 7When deciding whether a person is a MiFID investment firm or a third country investment firm for the purposes of PERG 2.5.8G(1), it is necessary to take into account the services that that person is providing in relation to the product concerned.(2) For example, say that a UKperson does business in an option product to which PERG 2.5.7G applies. When deciding whether that product is a regulated option, it is not necessary for that person already to be:(a) a MiFID investment
17For the purposes of DISP 2.3.1AR, the Ombudsman can consider a complaint about an act carried out by a MiFID investment firm that is preparatory to the provision of an investment service or ancillary service which is an integral part of such a service. This includes, for example, generic advice given by a MiFID investment firm to a client prior to, or in the course of, the provision of investment advice or another investment service or ancillary service. [Note: recitals 15 and