Regulated activities

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US Congress to tackle anticorruption legislation, including bill to outlaw foreign bribe solicitation

The following Corporate Crime news provides comprehensive and up to date legal information on US Congress to tackle anticorruption legislation, including bill to outlaw foreign bribe solicitation

Top UK court to hear £118m HSBC Ponzi scheme case

The following Financial Services news provides comprehensive and up to date legal information on Top UK court to hear £118m HSBC Ponzi scheme case

Payments watchdog warns over UK access-to-cash divide

The following Financial Services news provides comprehensive and up to date legal information on Payments watchdog warns over UK access-to-cash divide

OFAC settlement extends sanctions reach beyond US dollar

The following Corporate Crime news provides comprehensive and up to date legal information on OFAC settlement extends sanctions reach beyond US dollar

Featured Financial Services content

Multilateral Trading Facilities (MTFs)

Multilateral Trading Facilities (MTFs)BREXIT: 11pm (GMT) on 31 December 2020 (‘IP completion day’) marked the end of the Brexit...

Insurance conduct regulation—COBS and ICOBS

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What is electronic money?

What is electronic money?BREXIT: 11pm (GMT) on 31 December 2020 (‘IP completion day’) marked the end of the Brexit transition/implementation period...

European Insurance and Occupational Pensions Authority (EIOPA)

European Insurance and Occupational Pensions Authority (EIOPA)BREXIT: 11pm (GMT) on 31 December 2020 (‘IP completion day’) marked the end of the...

Practice notes

Financial Conduct Authority—Principles for Businesses (PRIN)

Financial Conduct Authority—Principles for Businesses (PRIN)This Practice Note explains the Principles for Businesses (PRIN) set down by the Financial...

19th May

Practice notes

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

Exempt consumer credit agreements under the FSMA 2000 (Regulated Activities) Order 2001This Practice Note seeks to explain the types of agreements...

Produced in partnership with Rebecca Kellner of Orrick, Herrington & Sutcliffe and Jacqui Hatfield of Orrick, Herrington & Sutcliffe 19th May

Practice notes

Interaction between the PRA, FCA and FPC

Interaction between the PRA, FCA and FPCBREXIT: 11pm (GMT) on 31 December 2020 (‘IP completion day’) marked the end of the Brexit...

19th May

Practice notes

Second Wire Transfer Regulation (EU WTR2 and UK WTR2)—essentials

Second Wire Transfer Regulation (EU WTR2 and UK WTR2)—essentialsThe Second Wire Transfer Regulation (EU) 2015/847 (WTR2), also known as the Funds...

19th May

Practice notes

Overview of UK implementation of the Consumer Credit Directive

Overview of UK implementation of the Consumer Credit DirectiveBREXIT: 11pm (GMT) on 31 December 2020 (‘IP completion day’) marked the end of the...

Produced in partnership with Sam Millar of DLA Piper and Tony Katz of DLA Piper 19th May

Practice notes

FCA client money rules

FCA client money rulesBREXIT: 11pm (GMT) on 31 December 2020 (‘IP completion day’) marked the end of the Brexit transition/implementation period...

19th May

Practice notes

What are regulated activities?

What are regulated activities?Under the general prohibition a person cannot carry out a regulated activity, or purport to carry out a regulated...

19th May

Practice notes

FCA client classification requirements

FCA client classification requirementsBREXIT: 11pm (GMT) on 31 December 2020 (‘IP completion day’) marked the end of the Brexit...

19th May

Practice notes

SM&CR—Statements of Responsibility (SoRs)

SM&CR—Statements of Responsibility (SoRs)Banks, building societies, credit unions, PRA-regulated investment firms and insurers are required to file a...

19th May

Practice notes

EMIR REFIT and EMIR 2.2 roadmap

EMIR REFIT and EMIR 2.2 roadmapRegulation (EU) 2019/834 (OJ L 141/42) (EU EMIR REFIT) was published in the Official Journal of the EU on 28 May 2019...

19th May

Practice notes

The European Systemic Risk Board

The European Systemic Risk BoardBREXIT: 11pm (GMT) on 31 December 2020 (‘IP completion day’) marked the end of the Brexit transition/implementation...

19th May

Practice notes

The Financial Services Compensation Scheme

The Financial Services Compensation SchemeBREXIT: 11pm (GMT) on 31 December 2020 (‘IP completion day’) marked the end of the Brexit...

Produced in partnership with Honor Levy of LexisNexis 19th May

Practice notes

Financial Services Compensation Scheme (FSCS)—the qualifying conditions for compensation

Financial Services Compensation Scheme (FSCS)—the qualifying conditions for compensationThis Practice Note covers the conditions necessary for the...

Produced in partnership with Honor Levy of LexisNexis 19th May

Practice notes

The Single Rulebook

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

Produced in partnership with DLA Piper 19th May

Practice notes

Unregulated collective investment schemes—essentials

Unregulated collective investment schemes—essentialsWhat are unregulated collective investment schemes?In the UK, an unregulated collective investment...

Produced in partnership with Lora Froud of Macfarlanes 19th May

Practice notes

Responsible lending requirements—CONC 5

Responsible lending requirements—CONC 5BREXIT: 11pm (GMT) on 31 December 2020 (‘IP completion day’) marked the end of the Brexit...

Produced in partnership with Jacqui Hatfield of Orrick, Herrington & Sutcliffe 19th May

Most recent Regulated activities content

Practice notes

PRA-regulated activities and the scope of PRA regulation

PRA-regulated activities and the scope of PRA regulationAs a result of the 2008 banking crisis, the government made a number of changes to the UK...

11th Aug

Practice notes

Carrying on unauthorised business and breaching the general prohibition

Carrying on unauthorised business and breaching the general prohibitionThis Practice Note outlines the relevant legislative provisions stipulating the...

Produced in partnership with Sarah Clarke QC of Serjeants' Inn 11th Aug

Practice notes

Tied agents

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

11th Aug

Practice notes

Entering into and administering regulated mortgage contracts and home finance transactions

Entering into and administering regulated mortgage contracts and home finance transactionsBackground to the regulation of regulated mortgage contracts...

11th Aug

Practice notes

Regulatory regime for credit rating agencies

Regulatory regime for credit rating agenciesIn each section of this Practice Note, links are given to the relevant provisions of EU and/or UK...

11th Aug

Practice notes

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

Exclusions specifically applying to accepting deposits, e-money and home finance transactionsThe general prohibitionUnder section 19 of the Financial...

11th Aug

Practice notes

Assisting in the administration and performance of insurance contracts

Assisting in the administration and performance of insurance contractsBackground to the regulation of assisting in the administration and performance...

11th Aug

Practice notes

Safeguarding and administering investments

Safeguarding and administering investmentsDefinitionSafeguarding and administering investments (commonly known as 'custody') is a regulated activity...

11th Aug

Practice notes

Entering into a consumer hire agreement as owner

Entering into a consumer hire agreement as ownerBREXIT: 11pm (GMT) on 31 December 2020 (‘IP completion day’) marked the end of the Brexit...

11th Aug

Practice notes

Regulated mortgage contracts and home finance transactions defined

Regulated mortgage contracts and home finance transactions definedBackground to the regulation of home finance transactionsThe regulation of home...

11th Aug

Practice notes

Designated Professional Bodies

Designated Professional BodiesWhat is a Designated Professional Body?A Designated Professional Body (DPB), is a body that regulates and supervises...

11th Aug

Practice notes

Appointed representatives

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

11th Aug

Practice notes

Financial Services and Markets Act 2000—essentials

Financial Services and Markets Act 2000—essentialsThe principal role of the Financial Services and Markets Act 2000 (FSMA 2000) was to establish and...

11th Aug

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?

Assuming the 'group exemption' applies under the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001, SI 2001/544, Art 69(9), in...

11th Aug

Q&As

My client owns 100% of the shares in a company and wishes to issue further shares to colleagues and other individuals. We are aware that there are financial promotion restrictions that we must consider but are there any Financial Conduct Authority implications on the issue of shares and the price of the shares issued?

My client owns 100% of the shares in a company and wishes to issue further shares to colleagues and other individuals. We are aware that there are...

11th Aug

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?

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...

11th Aug

Q&As

I act for a limited company lending significant monies to a connected private pension scheme in exchange for a mortgage over pension scheme owned commercial property. The money is to be used by the pension scheme to re-pay some but not all of a commercial loan secured on other property to a high street lender. I am using a legal mortgage over a property (often referred to as a 'legal charge') granted by an individual borrower in favour of an individual lender, securing a loan in excess of £25,000 that has been borrowed for the purpose of the borrower's business. I am aware of the business loan exemption in article 60C (3) of the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001. Would the use of the monies by the pension scheme as above constitute being used wholly or predominantly for the purpose of its business?

I act for a limited company lending significant monies to a connected private pension scheme in exchange for a mortgage over pension scheme owned...

11th Aug

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?

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...

11th Aug

Q&As

A purchaser intends to purchase a residential property with the seller to remain in occupation, on completion, under an assured shorthold tenancy (AST). The purchaser is a cash buyer and will purchase with no mortgage. Would a purchase and AST back be classed as a regulated sale and rent back agreement under the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001, given that there is no mortgage involved?

A purchaser intends to purchase a residential property with the seller to remain in occupation, on completion, under an assured shorthold tenancy...

11th Aug

Q&As

Would a person who operates a platform which allows users to post currency exchange advertisements (eg someone advertises that they want to swap £150 for $200) be carrying out a regulated activity under the Financial Services and Markets Act 2000? The operator of the platform receives no monies and does not get involved in any transaction entered into by the advertiser.

Would a person who operates a platform which allows users to post currency exchange advertisements (eg someone advertises that they want to swap £150...

11th Aug

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Regulated activities

View Financial Services by content type:

Latest Financial Services News

US Congress to tackle anticorruption legislation, including bill to outlaw foreign bribe solicitation

Top UK court to hear £118m HSBC Ponzi scheme case

Payments watchdog warns over UK access-to-cash divide

OFAC settlement extends sanctions reach beyond US dollar

Featured Financial Services content

Multilateral Trading Facilities (MTFs)

Insurance conduct regulation—COBS and ICOBS

What is electronic money?

European Insurance and Occupational Pensions Authority (EIOPA)

Most recent Regulated activities content

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