(1) Article 4(1) of the Capital Requirements Regulation (definitions) is amended in accordance with subsections (2) to (6).

(2) In point (2) (definition of "investment firm"), for the words from "excluding" to the end substitute "other than a credit institution".

(3) In point (2A) (definition of "CRR firm"), in paragraph (a)(ii), for "an investment firm" substitute "a designated investment firm".

(4) After point (2A) insert -

"(2AA) 'designated investment firm' means an investment firm that is 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), but is not -

(a) a commodity and emission allowance dealer,

(b) a collective investment undertaking, or

(c) an insurance undertaking;

(2AB) 'FCA investment firm' means an investment firm that -

(a) is an authorised person within the meaning of section 31(1)(a) of FSMA, and

(b) is not a designated investment firm;".