PRU 1.3.2

An Authorised Person is in Category 2 if:

(a) its Financial Services Permission authorises it to carry on one or both of the Regulated Activities of Providing Credit or Dealing in Investments as Principal (not as Matched Principal);
(b) its dealing activities are not limited in scope as provided in Rule 1.3.3(1)(a)(i); and
(c) it does not meet the criteria of Categories 1 or 5.