• Category 3B

    • PRU 1.3.4 PRU 1.3.4

      An Authorised Person is in Category 3B if:

      (a) its Financial Services Permission authorises it to carry on one or more of the Regulated Activities of:
      (i) Providing Custody (where it does so for a Fund); or
      (ii) Acting as the Trustee of an Investment Trust; and
      (b) it does not meet the criteria of Categories 1, 2, 3A or 5.

      • Guidance

        A Category 3B Authorised Person may be authorised to conduct other Regulated Activities, but it is the authorisation for Providing Custody for a Fund or Acting as Trustee of a Fund, and the absence of authorisation for the activities specified in Rules 1.3.1, 1.3.2 and 1.3.3 that are determinative of its belonging to Category 3B.