ECSH63495 - Regulation 32 - Exception for trustees of debt issues

This regulation only applies where the business is appointed by the issuer of instruments or securities specified in paragraph (2) of this regulation as trustee of an issue of such instruments or securities; or the business's customer is a trustee of an issue of such instruments or securities. 

In these circumstances, the business is not required to undertake customer due diligence measures specified in regulation 28(3) or (4) in respect of the holders of the instruments or securities.