FSMA 2000—the general prohibition

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FSMA 2000—the general prohibition guidance:

This Practice Note outlines the relevant legislative provisions stipulating the requirement to be authorised to provide financial services in the UK. The regulators may...

Practice Note

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 entered an...

Practice Note

How to use this Practice Note The terms and definitions used in this Practice Note match those used in the Financial Conduct Authority (FCA) Handbook and Prudential...

Practice Note

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 entered an...

Practice Note

The general prohibition Under section 19 of the Financial Services and Markets Act 2000 (FSMA 2000), a person cannot carry out regulated activities in the UK, or purport...

Practice Note

Restrictions on unauthorised business The Financial Services and Markets Act 2000 (FSMA 2000) prohibits any person from carrying on a regulated activity in the UK unless...

Practice Note

The Financial Conduct Authority (FCA), the Bank of England (BoE) (including the Prudential Regulation Authority (PRA)) (the regulators) may take action against persons...

Practice Note

The general prohibition under FSMA 2000 The general prohibition is a concept at the heart of the UK regulatory system. This means that persons providing financial...

Practice Note

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 purport to do so, unless...

Practice Note

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 either: • an...

Practice Note

An activity is only a regulated activity if it is an activity which is carried out by way of business in the UK. The Financial Services and Markets Act 2000 (FSMA 2000)...

Practice Note
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