investment firms

Definitions over time (1)

20/07/2006 – 20/03/2008 Article 3, Directive 2006/49/EC Scope: Whole act

1. For the purposes of this Directive the following definitions shall apply:

‘investment firms’ means institutions as defined in Article 4(1)(1) of Directive 2004/39/EC, which are subject to the requirements imposed by that Directive, excluding:(i)credit institutions;(ii)local firms as defined in point (p); and(iii)firms which are only authorised to provide the service of investment advice and/or receive and transmit orders from investors without holding money or securities belonging to their clients and which for that reason may not at any time place themselves in debt with those clients;

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No text uses this concept on 12/11/2026.