BKM502400 | Code population: investment firms

The starting point for determining whether an investment firm is within the Code population is whether it meets the definition of an investment bank in FA11/SCH19/PARA70 (see BKM502500).

Investment banks that are chargeable to the bank levy, or would be chargeable if it were not for the £20 billion de minimis, are in the Code population. This will include an investment bank that is:

• a member of a relevant group for the purpose of the bank levy (BKLM220000 and FA11/SCH19/Part 3) or

• not a member of a relevant group for the purpose of the bank levy, but is either a UK resident bank (BKLM243000 and FA11/SCH19/PARA80) or a relevant foreign bank (BKLM245000 and FA11/SCH19/PARA78).