Non-residents trading in the UK: through UK investment managers, brokers or Lloyd’s agents: investment managers: "investment transaction": transactions in securities
Definition of transactions in securities
Regulation 9 of The Investment Manager (Specified Transactions) Regulations 2009 admits transactions in securities.
A transaction in securities for the purposes of regulation 9 is any transaction in securities of any description not otherwise falling within any of regulations 4 (stocks and shares), 5 (relevant contracts), 6 (loan relationships) or 8 (units in collective investment schemes). This formulation gives ‘securities’ a wide meaning and makes regulation 9 residual: equity and debt instruments, for example, although securities in the wider sense of the term will not come within regulation 9 if they fall within regulation 4 or regulation 6 respectively.