FSMA 2000—the general prohibition

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Regulated mortgage contracts and home finance transactions defined

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Consumer credit: rules relating to arrears, default and recovery

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MiFID II conduct of business and investor protection requirements

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Exclusions applying to several specified kinds of activity

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Appointed representatives

This Practice Note discusses the main Financial Conduct Authority (FCA) provisions applying to appointed representatives (ARs) that carry out...

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Most recent FSMA 2000—the general prohibition content

Practice notes

Carrying on unauthorised business and breaching the general prohibition

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

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Territorial scope of the general prohibition

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In-house lawyers—risk management—financial services

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Unauthorised business and the approach to enforcement—civil proceedings

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Unauthorised business and enforcement powers of the FCA

Restrictions on unauthorised businessThe Financial Services and Markets Act 2000 (FSMA 2000) prohibits any person from carrying on a regulated...

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Unauthorised business and the approach to enforcement—criminal proceedings

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

25th Sep

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...

26th Sep

Practice notes

The general prohibition and implications of its breach

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

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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...

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Practice notes

What does 'by way of business' mean?

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Practice notes

Financial Services and Markets Act 2000—essentials

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Q&As

How can an unregulated parent manage a FCA regulated subsidiary without obtaining authorisation itself?

A firm which carries on regulated activities as defined in section 22 of the Financial Services and Markets Act 2000 (FSMA 2000) can only do so if it...

28th Sep

Q&As

If an individual lends a sum of money (£40,000) to a friend to assist in the purchase of a property and there is no written agreement in respect of that loan, would the loan be caught by the CCA and would the individual lending the money need to be FCA approved?

What is the regulatory regime under the Financial Services and Markets Act 2000 (FSMA 2000)Under section 19 of the Financial Services and Markets Act...

Produced in partnership with Russell Kelsall LLB (Hull); LPC (Shef) of TLT 28th Sep

Q&As

Would lending to an individual where the loan is secured by a second charge be viewed as a regulated activity? Would a person carrying on this activity be able to rely on an exemption?

Under the general prohibition contained in section 19 of the Financial Services and Markets Act 2000, a person cannot carry out a regulated activity,...

28th Sep