Regulated activities—exclusions and exemptions

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Brexit legislation tracker

This Practice Note tracks the progress of UK legislation introduced as part of the legislative project associated with the UK’s withdrawal from the

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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...

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Financial services outsourcing—post MiFID II implementation

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Practice notes

AIFMD—the marketing of AIFs, passporting and third country provisions

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Practice notes

Regulated activities relating to consumer credit

This Practice Note sets out and examines the consumer credit regulated activities in the Financial Services and Markets 2000 (Regulated Activities)...

5th Oct

In-house

Practice notes

The regulation of crowdfunding platforms

This Practice Note discusses the regulatory issues faced by crowdfunding platforms from a financial services perspective. It should be read in...

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Practice notes

Market Abuse Regulation (MAR)—essentials

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MLD4 and 2017 MLRs—customer due diligence checklist for financial services firms

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In-house

Practice notes

AIFMD—essentials

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Practice notes

Payment Services Regulations 2017—scope

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Practice notes

Regulated mortgage contracts and home finance transactions defined

Background to the regulation of home finance transactionsThe regulation of home finance transactions came about at different points in time. HM...

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Practice notes

Consumer credit: rules relating to arrears, default and recovery

Goode consumer credit materials—default and enforcementFor further discussion on the topics raised in this Practice Note, a statement of the...

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Practice notes

MiFID II conduct of business and investor protection requirements

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Practice notes

Regulated activities—exempt persons

In this Practice Note, references to exemptions relate to persons who are exempt from the need to apply for authorisation from the Prudential...

25th Sep

Practice notes

Goode on Consumer Credit—materials

Goode: Consumer Credit Law and Practice This volume contains thirteen divisions and states the current law with commentary on consumer credit in the...

25th Sep

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...

25th Sep

Practice notes

Appointed representatives

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

25th Sep

Most recent Regulated activities—exclusions and exemptions content

Practice notes

Appointed representatives

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

25th Sep

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...

25th Sep

Practice notes

Designated Professional Bodies

What is a Designated Professional Body?A Designated Professional Body (DPB), is a body that regulates and supervises members of the professions (ie...

25th Sep

Practice notes

Regulated activities—exempt persons

In this Practice Note, references to exemptions relate to persons who are exempt from the need to apply for authorisation from the Prudential...

25th Sep

Practice notes

Exclusions and exemptions relating to the general prohibition—an introduction

This Practice Note provides an introduction to the exemptions and exclusions that apply in relation to the general prohibition contained in section 19...

25th Sep

Practice notes

Exclusions specifically applying to accepting deposits, e-money and home finance transactions

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

25th Sep

Practice notes

Tied agents

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...

25th Sep

Practice notes

Exclusions applying to specified activities relating to insurance

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25th Sep

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...

26th Sep

In-house

Practice notes

Exempt consumer credit agreements under the FSMA 2000 (Regulated Activities) Order 2001

This Practice Note seeks to explain the types of agreements which will be exempt agreements under the FCA consumer credit regimes. Entering into these...

27th Sep

Q&As

An individual is proposing to loan £500,000 to a residential developer secured by a legal charge over one of the plots. A company solely owned by the individual is also proposing to make a loan of the same amount secured by a charge over a plot in similar fashion. Is either charge affected or restricted in any way by legislation relating consumer credit or regulated mortgage contracts?

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

Q&As

What does ‘group’ mean in the context of Article 69 of the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001, SI 2001/544 and how would this definition apply where a potential grouping of entities includes a limited liability company and a limited partnership?

As noted in Practice Note: Exclusions and exemptions relating to the general prohibition—an introduction, the Financial Services and Markets Act 2000...

28th Sep

Q&As

Assuming the 'group exemption' applies under the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001, SI 2001/544, Art 69(9), in respect of a UK Co providing investment advice to a Limited Partnership, will the exemption be affected or diminished by the fact that the Limited Partnership is governed by a General Corporate Partner?

Practice Note: Exclusions and exemptions relating to the general prohibition—an introduction states that the Financial Services and Markets Act 2000...

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