Regulated activities

View Financial Services by content type:

News

Practice notes

Precedents

Q&As

Latest Financial Services News

Claims arising from a fraudulent investment scheme resulting in corporate insolvency (Biscoe (as joint liquidators of Equitable Law Capital Ltd) v Milner)

The following Dispute Resolution news provides comprehensive and up to date legal information on Claims arising from a fraudulent investment scheme resulting in corporate insolvency (Biscoe (as joint liquidators of Equitable Law Capital Ltd) v Milner)

HSBC beats £118m Stanford bank Ponzi scheme claim

The following Financial Services news provides comprehensive and up to date legal information on HSBC beats £118m Stanford bank Ponzi scheme claim

Financial sanctions guidance shows subtle policy shift

The following Corporate Crime news provides comprehensive and up to date legal information on Financial sanctions guidance shows subtle policy shift

SEC official says agency can help self-reporting companies dig up information, achieve 'closure' in US FCPA cases

The following Corporate Crime news provides comprehensive and up to date legal information on SEC official says agency can help self-reporting companies dig up information, achieve 'closure' in US FCPA cases

Featured Financial Services content

The Money Laundering Reporting Officer (MLRO)—duties

The roles of nominated officer and money laundering reporting officerA nominated officer is an individual who is nominated by a firm to receive...

What is electronic money?

BREXIT: UK is leaving EU on Exit Day (as defined in the European Union (Withdrawal) Act 2018). This has an impact on this Practice Note. For further...

Insurance conduct regulation—COBS and ICOBS

The Financial Conduct Authority Handbook (FCA Handbook) includes sourcebooks to regulate the conduct of business by a regulated firm relevant to...

Non-UCITS retail schemes (NURS)

BREXIT: As of exit day (31 January 2020), the UK is no longer an EU Member State. However, in accordance with the Withdrawal Agreement, the UK has...

Practice notes

Regulatory capital—purpose, quantity and quality

Brexit; As of exit day (31 January 2020), the UK is no longer an EU Member State. However, in accordance with the Withdrawal Agreement, the UK has...

Produced in partnership with Morrison & Foerster LLP 12th Jan

Practice notes

Public censure by the FCA

Disciplinary powers of the FCAThe disciplinary powers of the Financial Conduct Authority (FCA) are found in Part XIV of the Financial Services and...

9th Nov

Practice notes

Application of the FCA's COBS 4 rules

Chapter 4 of the Financial Conduct Authority's (FCA) Conduct of Business sourcebook (COBS 4) contains the conduct of business requirements for...

9th Nov

Practice notes

Accepting deposits

This Practice Note looks at the regulated activity of accepting deposits (often referred to as deposit taking). Accepting deposits is a key hallmark...

9th Nov

Practice notes

Basel Accord

The Basel Committee on Banking Supervision (BCBS), consisting of the central banks of governors of the so-called G10 countries (Belgium, Canada,...

Produced in partnership with Morrison & Foerster LLP 12th Jan

Practice notes

Financial Conduct Authority—objectives and principles

The role of the FCAThe Financial Conduct Authority (FCA) forms part of the regulatory structure for financial services firms. The FCA has a...

9th Nov

Practice notes

Consumer protection—FCA and other regulatory requirements

This Practice Note looks at key aspects of consumer protection within the UK financial services regulatory system. The UK’s regulatory structure,...

9th Nov

Practice notes

Fair and Effective Markets Review (FEMR)—one minute guide

On 10 June 2015, the Fair and Effective Markets Review (FEMR) published its final report. Running to 106 pages, the report covers a wide range of...

9th Nov

Practice notes

Recognised investment exchanges

Recognised investment exchangesA recognised investment exchange (RIE) is a UK recognised body under Part XVIII of the Financial Services and Markets...

9th Nov

In-house

Practice notes

MLD4—key provisions for financial services firms—one minute guide

Brexit: As of exit day (31 January 2020) the UK is no longer an EU Member State. However, in accordance with the Withdrawal Agreement, the UK has...

9th Nov

Practice notes

UCITS VI

UCITS VIUCITS VI describes the European Commission's Consultation on Undertakings for Collective Investment in Transferable Securities issued 26th...

Produced in partnership with Andrew Henderson Partner, Eversheds Sutherland LLP 12th Jan

Practice notes

European Venture Capital Funds (EuVECA) Regulation

BREXIT: As of exit day (31 January 2020), the UK is no longer an EU Member State. However, in accordance with the Withdrawal Agreement, the UK has...

9th Nov

Practice notes

Entering into a consumer hire agreement as owner

BREXIT: The UK is leaving EU on Exit Day (as defined in the European Union (Withdrawal) Act 2018). This has an impact on this Practice Note. To ensure...

9th Nov

Practice notes

MiFID I—Transaction reporting

This Practice Note provides an overview of the transaction reporting requirements that existed under the Markets in Financial Instruments Directive...

9th Nov

Practice notes

Impact of Brexit: Solvency II—quick guide

This Solvency II quick guide details current UK legislation and retained EU legislation in relation to prudential insurance requirements that will be...

9th Nov

Brexit

Practice notes

What is credit and what is a regulated consumer credit agreement?

Scope of this Practice NoteThere are several factors to consider when deciding whether or not a credit agreement is regulated under the regulatory...

9th Nov

Most recent Regulated activities content

Practice notes

FCA Regulation of bidding for emissions allowances in the UK

Background to emissions trading in the EU and the UKEmissions trading is a market-based approach to controlling pollution. It aims to reduce emissions...

13th Apr

Practice notes

Dealing in investments

Dealing as principal or as agentAuthorised persons can obtain permission to deal in investments as principal, or as agent for another. Dealing in...

13th Apr

Practice notes

Accepting deposits

This Practice Note looks at the regulated activity of accepting deposits (often referred to as deposit taking). Accepting deposits is a key hallmark...

11th Apr

Practice notes

Tied agents

BREXIT: 11pm (GMT) on 31 December 2020 (‘IP completion day’) marked the end of the Brexit transition/implementation period entered into following the...

8th Apr

Practice notes

Exclusions applying to several specified kinds of activity

BREXIT: The UK is leaving EU on Exit Day (as defined in the European Union (Withdrawal) Act 2018). This has an impact on this Practice Note. To ensure...

8th Apr

Practice notes

UCITS, collective investment scheme and alternative investment fund regulated activities

FSMA 2000 activities and investmentsUnder section 19 of Financial Services and Markets Act 2000 (FSMA 2000), no person may carry on a regulated...

8th Apr

Practice notes

EU regulatory regime for credit rating agencies

BREXIT: 11pm (GMT) on 31 December 2020 (‘IP completion day’) marked the end of the Brexit transition/implementation period entered into following the...

8th Apr

Practice notes

Unauthorised business—legal and regulatory framework

There is a fundamental prohibition at the heart of the UK regulatory regime whereby a person cannot carry out a regulated activity in the UK, or...

8th Apr

Practice notes

EU and UK regulation of insurance-linked securities

IP COMPLETION DAY: 11pm (GMT) on 31 December 2020 marks the end of the Brexit transition/implementation period entered into following the UK’s...

8th Apr

Q&As

Would privately (ie not via a public platform) facilitating an opportunity to individuals to lend to a corporate be caught under the Financial Services and Markets Act 2000 (FSMA 2000) as a regulated activity requiring authorisation? Is it the case that since the borrower is a corporate entity, the credit broking restrictions will not be relevant since there is no consumer contract? It also does not seem like a private arrangement like this would fall under operating an electronic system in relation to lending. What are your thoughts as to whether it may be a regulated activity, whether under the above or other provisions of FSMA 2000?

This Q&A assumes that the description of the proposed platform is accurately and fully described in the question.Authorisation is required under the...

Produced in partnership with Thomas Samuels of Gough Square Chambers 8th Apr

Practice notes

Administering benchmarks

Background to the regulated activities relating to benchmarksThe London Inter-Bank Offered Rate (LIBOR) is a global benchmark for short term interest...

8th Apr

Practice notes

Effecting and carrying out contracts of insurance

Background to the regulated activities of effecting and carrying out contracts of insuranceThe regulation of carrying on insurance business in the UK...

7th Apr

Practice notes

Regulated Lloyd’s and funeral plan activities

This Practice Note covers regulated activities relating to the Society of Lloyd’s (commonly referred to as Lloyd’s of London, ‘the Society’ or ‘the...

5th Apr

Practice notes

Exclusions applying to the specified activities relating to investments

This Practice Note sets out a number of exclusions which can apply in relation to specific regulated activities that relate to investments. It briefly...

5th Apr

In-house

Practice notes

Regulated investments essentials

BREXIT: 11pm (GMT) on 31 December 2020 (‘IP completion day’) marked the end of the Brexit transition/implementation period entered into following the...

5th Apr

Practice notes

What are regulated activities?

Under the general prohibition a person cannot carry out a regulated activity, or purport to carry out a regulated activity, in the UK unless they are...

5th Apr

Practice notes

Dormant accounts

Dormant Bank and Building Society Accounts Act 2008 The management of dormant account funds and the meeting of repayment claims by a reclaim fund are...

31st Mar

Practice notes

The regulated activity of issuing electronic money

DefinitionIssuing electronic money is a regulated activity under regulation 9B of the Financial Services and Markets Act 2000 (Regulated Activities)...

30th Mar

Q&As

What are some of the key elements in relation to the regulation of credit unions?

What is a credit union?A credit union is a type of financial services institution owned and controlled by its members and operated for their own...

Produced in partnership with Scott Ralston 29th Mar

Practice notes

Appointed representatives

BREXIT: 11pm (GMT) on 31 December 2020 (‘IP completion day’) marked the end of the Brexit transition/implementation period entered into following the...

26th Mar