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 24-1. Reception and transmission of orders in relation to one or more financial instruments
  • Article 24-2. Execution of orders on behalf of clients
  • Article 24-3. Dealing on own account
  • Article 24-4. Portfolio management
  • Article 24-5. Investment advice
  • Article 24-6. Underwriting of financial instruments and/or placing of financial instruments on a firm commitment basis
  • Article 24-7. Placing of financial instruments without a firm commitment basis
  • Article 24-8. Operation of an MTF
  • Article 24-9. Operation of an OTF