participant firm

(1) a firm (including a TP firm) other than:

  1. (a) [deleted]
  3. (b) a service company;
  6. (c) an underwriting agent, or members' adviser, in respect of advising on syndicate participation at Lloyd's or managing the underwriting capacity of a Lloyd's syndicate as a managing agent at Lloyd's;
  7. (d) an authorised professional firm that is subject to the rules of the Law Society (England and Wales) or the Law Society of Scotland and with respect to its regulated activities participates in the relevant society's compensation scheme;
  8. (e) an ICVC;
  9. (f) [deleted]
  11. (g) in respect of the carrying on of bidding in emissions auctions, an exempt MiFID commodities firm;
  12. (h) [deleted]
  13. (i) an operator of an electronic system in relation to lending in respect of operating the system;
  14. (j) a regulated benchmark administrator in relation to administering a benchmark; and
  15. (k) a claims management company in relation to a regulated claims management activity;
  16. (l) [deleted]
  17. (m) a TP UCITS qualifier;
  18. (n) a TP firm that under section 213(9A) or section 213(9A) [bis] of the Act is not to be regarded as a relevant person;
  19. (o) a dormant asset fund operator;

(2) a recognised investment exchange but only insofar as it is operating a multilateral trading facility or operating an organised trading facility; (3) (except in FEES 6) a pre-exit incoming EEA firm but only:

  1. (a) in relation to acts or omissions before IP completion day that give rise to a claim against it; and
  2. (b) (where necessary for it to have obtained FSCS cover) that had, before IP completion day:
    1. (i) notified the FSCS in writing that it had elected to participate in the compensation scheme under SI 2001/1783 (as in force and as from time to time amended before IP completion day ); and
    2. (ii) the FSCS had notified it that its election had been accepted.
Glossary Related Taxonomy Legal Instruments