(1) An investment business firm that meets the criteria of Article 3(1)(a), (b) and (c) of Directive 2014/65/EU (in this section referred to as a ‘relevant investment business firm’) may appoint persons as tied agents for the purposes of -
(a) promoting the services of the firm,
(b) soliciting business or receiving orders from clients or potential clients and transmitting them, and
(c) providing advice to clients in respect of -
(i) financial instruments which they are authorised to advise on, and
(ii) investment business services offered by the investment business firm which the tied agent is authorised to advise on.
(2) A relevant investment business firm that appoints a tied agent -
(a) remains fully and unconditionally responsible for any act or omission on the part of the tied agent when acting on behalf of the firm, and
(b) shall ensure that the tied agent when contacting or before dealing with any client or potential client discloses at the outset -
(i) the capacity in which
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