In this act Article 6 of 8
Article 6 — Information to be notified in a branch passport notification or a tied agent passport notification
Financial servicesLevel 2RTSMiFID IIIn forceOfficial source
6(1)Copy link
1.Investment firms and such credit institutions as are referred to in Article 1(2)(b) shall ensure that a branch passport notification or a tied agent passport notification submitted pursuant to Article 35(2) or Article 35(7) of Directive 2014/65/EU as applicable, includes the following information:
6(1)(a)
(a)the name, address and contact details of the investment firm or credit institution in the home Member State, and the name of a specified contact person at the investment firm or credit institution;
Copy link6(1)(b)
(b)the name, address and contact details in the host Member State of the branch or of the tied agent from which documents may be obtained;
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(c)the name of those persons responsible for the management of the branch or of the tied agent;
Copy link6(1)(d)
(d)reference to the location, electronic or otherwise, of the public register where the tied agent is registered; and
Copy link6(2)Copy link
2.The programme of operations referred to in point (e) of paragraph 1 shall comprise the following items:
6(2)(a)
(a)a list of investment services, activities, ancillary services and financial instruments to be provided;
Copy link6(2)(b)
(b)an overview explaining how the branch or the tied agent will contribute to the investment firm's, credit institution's or group's strategy, and setting out whether the investment firm is a member of a group, and what the main functions of the branch or tied agent will be;
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(c)a description of the type of client or counterparty with which the branch or tied agent will be dealing and of how the investment firm or credit institution will obtain and deal with those clients and counterparties;
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(d)the following information on the organisational structure of the branch or tied agent:
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(i)functional, geographical and legal reporting lines if a matrix management structure is in operation;
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(ii)description of the manner in which the branch or the tied agent fits into the corporate structure of the investment firm or credit institution, or of the group if the investment firm or credit institution is a member of a group;
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(iii)the rules for reporting by the branch or the tied agent to the head office;
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(e)details of individuals performing key functions with the branch or the tied agent, including the individuals responsible for day-to-day branch or tied agent operations, compliance and dealing with complaints;
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(f)details of any outsourcing arrangements critical to the operations of the branch or the tied agent;
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(g)summary details of the systems and controls that will be put in place, including:
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(i)arrangements that will be put in place to safeguard client money and customer assets;
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(ii)arrangements for the compliance with the rules of conduct of business and other obligations that fall under the responsibility of the competent authority of the host Member State according to Article 35(8) of Directive 2014/65/EU and record keeping under Article 16(6) of that Directive;
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(iii)internal arrangements for controls on staff, which shall include controls over personal account dealing;
Copy link6(2)(g)(v)
(v)details of controls over outsourcing and other arrangements with third parties in connection with the investment services or activities carried on by the branch or the tied agent;
Copy link6(2)(g)(vi)
(vi)the name, address and contact details of the accredited compensation scheme of which the investment firm or credit institution is a member;
Copy link6(2)(h)
(h)forecast statements for both profit and loss and cash flow, over an initial 36-month period.
Copy link6(3)Copy link
3.When a branch is to be established in a host Member State and intends to use tied agents in that Member State, in accordance with Article 35(2)(c) of Directive 2014/65/EU, the programme of operations referred to in point (e) of paragraph 1 shall also comprise information regarding the identity, address and contact details of each such tied agent.