(1) In GEN Rule 2.2.2, Acting as the Administrator of an Employee Money Purchase Scheme means performing one or more of the following functions for or on behalf of the Operator of the Scheme:
(a) technical operational functions relating to the Scheme;
(b) communicating with Members or providing support services to Members;
(c) operating an Investment Platform; or
(d) reporting functions relating to the Scheme.
(2) To the extent that any activity under (1) constitutes:
(a) Dealing as Agent;
(b) Providing Trust Services;
(c) Managing Assets;
(d) Arranging Deals in Investment; and
(e) Arranging custody,such a Financial Service is taken to be incorporated within Acting as the Administrator of an Employee Money Purchase Scheme.
(3) In (1), “Investment Platform” means a facility on which investment options available to Members are offered to, or accessible by, Members.
Derived from RMI260/2019 (Made 18th December 2019).[VER47/01-20]