Authorised Firm is in Category 3A if:
Licence authorises it to carry on one or more of the Financial Services of:
Dealing in Investments as Principal (where it does so only as a Matched Principal); or
Dealing in Investments as Agent; and
(b) it does not meet the criteria of
Categories 1, 2 or 5.
(2) For the purposes of
PIB, an Authorised Firm Deals in Investments as a " Matched Principal" if:
(a) it enters into transactions as a principal only for the purpose of fulfilling its
(b) it holds positions for its own account ("positions") only as a result of a failure to match
(c) the total market value of the positions it holds is no more than 15% of the Firm's Tier 1
Capital Resources; and
(d) the positions are incidental in nature and are strictly limited to the time reasonably required to carry out a transaction of that nature.
Derived from RM111/2012 (Made 15th October 2012). [VER20/12-12]