Prudential Regulation Authority Rulebook

2.1

A firm must establish, implement and maintain adequate policies and procedures sufficient to ensure compliance of the firm including its managers, employees and appointed representatives (or where applicable, tied agents) with its obligations under the regulatory system and for countering the risk that the firm might be used to further financial crime.

[Note: Art. 16(2) of MiFID II]

2.2

2.2A

A MiFID investment firm must extend the arrangements required by the Article 22 Compliance Requirements so that they apply with respect to other matters on the following basis:

1. (1) references to “Directive 2014/56/EU” are references to “the regulatory system”;
2. (2) references to “investment services and activities” and “investment services, activities” are references to financial services and activities;
3. (3) references to “relevant persons” are references to relevant persons; and
4. (4) references to “Article 25(2) of this Regulation” are references to General Organisational Requirements 4.1A.

2.2B

A firm that is not a MiFID investment firm must comply with Article 22 Compliance Requirements on the basis set out in 2.2A and as if references to “investment firm” refer to a firm.

2.3

[Deleted.]

2.4

[Deleted.]

2.5

[Deleted.]

2.6

1. (1) This rule applies to a firm conducting investment services and activities from a branch in another EEA State.
2. (2) References to the regulatory system in 2.1 and 2.2A apply in respect of a firm’s branch as if regulatory system includes a host Member State's requirements under MiFID II which are applicable to the investment services and activities conducted from the firm’s branch.

[Note: Art. 16(2) of MiFID II]