Investment firms

Pursuant to Part I, Chapter 2, Section 2, Sub-section 1 of the Law of 5 April 1993 on the financial sector, the professionals of the financial sector (“PFS”) falling within the following categories are defined as investment firms:

• Article 24. Investment advisers
• Article 24-1. Brokers in financial instruments
• Article 24-2. Commission agents
• Article 24-3. Private portfolio managers
• Article 24-4. Professionals acting for their own account
• Article 24-5. Market makers
• Article 24-6. Underwriters of financial instruments
• Article 24-7. Distributors of units/shares in UCIs
• Article 24-8. Financial intermediation firms
• Article 24-9. Investment firms operating an MTF in Luxembourg
• Article 24-10. Investment firms operating an OTF in Luxembourg