SYSC 15A.1 Application

This chapter applies to:

1. (1)

   a firm that is:

   1. (a)

      an enhanced scope SMCR firm;

   2. (b)

      a bank;

   3. (c)

      a designated investment firm;

   4. (d)

      a building society;

   5. (e)

      a Solvency II firm,

2. (2)

   a UK RIE;

3. (3)

   an electronic money institution, a payment institution or a registered account information service provider; and

4. (4)

   a consolidated tape provider.

In this chapter, a reference to a firm includes a UK RIE, an electronic money institution, a payment institution, a registered account information service provider and a consolidated tape provider.

This chapter does not apply to a TP firm, a TA PI firm, TA RAISP firm or a TA EMI firm.

This chapter does not apply to a firm which has its registered office (or, if it has no registered office, its head office) outside the United Kingdom.

In this chapter, a reference to a client in relation to a UK RIE includes a person who is entitled, under an arrangement or agreement between them and that UK RIE, to use the UK RIE’s facilities.

This chapter applies in relation to a consolidated tape provider as if a reference to a client includes a person who purchases a consolidated tape for bonds from:

1. (a)

   a consolidated tape provider; or

2. (b)

   a data vendor.

In this chapter, a reference to a client in relation to a firm carrying on the activity of managing a UK UCITS or managing an AIF includes:

1. (1)

   a unitholder; and

2. (2)

   an investor in an AIF.

The requirements in this chapter apply with respect to:

1. (1)

   regulated activities;

2. (2)

   activities that constitute dealing in investments as principal, disregarding the exclusion in article 15 of the Regulated Activities Order (Absence of holding out etc.);

3. (3)

   ancillary activities;

4. (4)

   in relation to MiFID or equivalent third country business, ancillary services;

5. (5)

   collective portfolio management;

6. (6)

   the provision of payment services and the issuance of electronic money, and activities connected to the provision of payment services and to the issuing of electronic money (whether or not the activity of issuing electronic money is specified in article 9B of the Regulated Activities Order);

7. (7)

   any other unregulated activities, but only in a prudential context; and

8. (8)

   data reporting services provided by a consolidated tape provider.

Notwithstanding SYSC 15A.1.7R, where the requirements in this chapter apply to a firm only as a result of SYSC 15A.1.1R(3), the requirements only apply to the provision of payment services and the issuance of electronic money by the firm, and activities connected to the provision of payment services and to the issuing of electronic money (whether or not the activity of issuing electronic money is specified in article 9B of the Regulated Activities Order).

There is no territorial limitation on the application of this chapter.