(1) In this Part, "FCA investment firm" means an investment firm that - (a) is an authorised person within the meaning of section 31(1)(a), (b) is not for the time being designated by the PRA under article 3 of the Financial Services and Markets Act 2000 (PRA-regulated Activities) Order 2013 (S.I. 2013/556), and (c) has its registered office or, if it has no registered office, its head office in the United Kingdom.
(2) But the following are not FCA investment firms -
(a) a person excluded from the definition of "investment firm" in Article 3(1) of the Financial Services and Markets 2000 (Regulated Activities) Order 2001 (S.I. 2001/544) by paragraph (a) or (b) of that definition;
(b) an investment firm which has a Part 4A permission to carry on regulated activities as an exempt investment firm within the meaning of regulation 8 of the Financial Services and Markets Act 2000 (Markets in Financial Instruments) Regulations 2017 (S.I. 2017/701).