• Category 2

    • Guidance

      1. A Category 2 Authorised Person may be authorised to conduct other Regulated Activities, but it is the authorisation for Dealing in Investments as Principal (not only as a Matched Principal) or Providing Credit, and the absence of authorisation for the activities specified in Rule 1.3.1, that are determinative of its belonging to Category 2.
      2. Where the dealing activities of a firm are limited to acting only as Matched Principal, the activities fall in the scope of Category 3A in accordance with Rule 1.3.3(1). A definition of "Matched Principal" is in Rule 1.3.3(2).

    • PRU 1.3.2

      An Authorised Person is in Category 2 if:

      (a) its Financial Services Permission authorises it to carry on one or both of the Regulated Activities of Providing Credit or Dealing in Investments as Principal (not as Matched Principal);
      (b) its dealing activities are not limited in scope as provided in Rule 1.3.3(1)(a)(i); and
      (c) it does not meet the criteria of Categories 1 or 5.