Regulation 7
SCHEDULE 7EXERCISE OF PASSPORT RIGHTS UNDER THE INVESTMENT SERVICES DIRECTIVE
This schedule has no associated Explanatory Memorandum
Table 1
| Investment service in Section A of the Annex to the investment services directive | Corresponding investment service or activity in Section A of Annex I to the markets in financial instruments directive |
|---|
| 1(a) (reception and transmission, on behalf of investors, of orders in relation to one or more of the instruments listed in Section B) | 1 (reception and transmission of orders in relation to one or more financial instruments) |
| 1(b) (execution of such orders other than for own account) | 2 (execution of orders on behalf of clients) |
| 2 (dealing in any of the instruments listed in Section B for own account) | 3 (dealing on own account) |
| 3 (managing portfolios of investments in accordance with mandates given by investors on a discriminatory, client-by-client basis where such portfolios include one or more of the instruments listed in Section B) | 4 (portfolio management) |
| 4 (underwriting in respect of issues of any of the instruments listed in Section B and/or the placing of such issues) | 6 (underwriting of financial instruments and/or placing of financial instruments on a firm commitment basis) and 7 (placing of financial instruments without a firm commitment basis) |
Table 2
| Non-core service in Section C of the Annex to the investment services directive | Corresponding ancillary service in Section B of Annex I to the markets in financial instruments directive |
|---|
| 1 (safekeeping and administration in relation to one or more of the instruments listed in Section B) | 1 (safekeeping and administration of financial instruments for the account of clients, including custodianship and related services such as cash/collateral management) |
| 2 (safe custody services) | 1 |
| 3 (granting credits or loans to an investor to allow him to carry out a transaction in one or more of the instruments listed in Section B, where the firm granting the credit or loan is involved in the transaction) | 2 (granting credits or loans to an investor to allow him to carry out a transaction in one or more financial instruments, where the firm granting the credit or loan is involved in the transaction) |
| 4 (advice to undertakings on capital structure, industrial strategy and related matters and advice and service relating to mergers and the purchase of undertakings) | 3 (advice to undertakings on capital structure, industrial strategy and related matters and advice and services relating to mergers and the purchase of undertakings) |
| 5 (services related to underwriting) | 6 (services related to underwriting) |
| 7 (foreign-exchange services where these are connected with the provision of investment services) | 4 (foreign exchange services where these are connected to the provision of investment services) |
Table 3
| Instrument in Section B of the Annex to the investment services directive | Corresponding financial instrument in Section C of Annex I to the markets in financial instruments directive |
|---|
| 1(a) (transferable securities) | 1 (transferable securities) |
| 1(b) (units in collective investment undertakings) | 3 (units in collective investment undertakings) |
| 2 (money-market instruments) | 2 (money-market instruments) |
| 3 (financial-futures contracts, including equivalent cash-settled instruments) | 4 (options, futures, swaps, forward rate agreements and any other derivative contracts relating to securities, currencies, interest rates or yields, or other derivative instruments, financial indices or financial measures which may be settled physically or in cash) |
| 4 (forward interest-rate agreements) | 4 |
| 5 (interest-rate, currency and equity swaps) | 4 |
| 6 (options to acquire or dispose of any instruments falling within this section of the Annex, including equivalent cash-settled instruments. This category includes in particular options on currency and on interest rates) | 4 |
