IPRU-INV 11.6 ADDITIONAL REQUIREMENTS FOR COLLECTIVE PORTFOLIO MANAGEMENT INVESTMENT FIRMS

A collective portfolio management investment firm is required to comply with MIFIDPRU in addition to IPRU-INV 11.

1. (1)

   A collective portfolio management investment firm may undertake the following MiFID business: portfolio management; investment advice; safekeeping and administration in relation to shares or units of collective investment undertakings; and (if it is an AIFM investment firm) reception and transmission of orders in relation to financial instruments.

2. (2)

   [deleted]

A collective portfolio management investment firm is required to comply with the applicable requirements of MIFIDPRU, in parallel with its requirements under IPRU-INV 11. This means that a capital instrument or liquid asset may be used to meet either or both sets of requirements provided it meets the conditions set out in the relevant sourcebook.

A collective portfolio management investment firm is not required to include its collective portfolio management activities when calculating its K-factor metrics under MIFIDPRU.