The permanent minimum capital requirement is the highest of the applicable requirements in the following table:
Application | |||
(1) | A firm appointed to act as the depositary of a UK UCITS or an authorised AIF. | £4 million | |
(2) | A firm with permission for the investment services and/or activities of: | £750,000 | |
(a) | |||
(b) | underwriting of financial instruments and/or placing of financial instruments on a firm commitment basis; or | ||
(c) | operating an organised trading facility, if the firm is not subject to a limitation that prevents it from carrying on the activities otherwise permitted by MAR 5A.3.5R. | ||
(3) | A firm appointed to act as a depositary of an unauthorised AIF in accordance with FUND 3.11.10R(2). | £750,000 | |
(4) | A firm with permission to provide targeted support. | £500,000 | |
(5) | A firm with permission for: | £150,000 | |
(a) | operating a multilateral trading facility; | ||
(b) | operating an organised trading facility, if the firm is subject to a limitation that prevents it from carrying on the activities otherwise permitted by MAR 5A.3.5R; or | ||
(c) | holding client money or client assets in the course of MiFID business. | ||
(6) | A firm with permission for the investment services and/or activities of: | £75,000 | |
(a) | reception and transmission of orders in relation to one or more financial instruments; | ||
(b) | |||
(c) | |||
(d) | |||
(e) | placing of financial instruments without a firm commitment basis. | ||