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GLOSSARY

Regulated activity definition

/ˈrɛɡjʊleɪt/ /akˈtɪvɪti/

Published by a LexisNexis Financial Services expert

What does Regulated activity mean?

An activity which involves a specified investment and specified activity as defined in the Financial Services and Markets Act 2000 (Regulated Activities Order) 2001.

This secondary legislation lists specified investments and specified activities which, if carried on by way of business, are regulated activities which can only be carried on by authorised or exempt persons. Examples including advising on regulated mortgage contracts and arranging a contract of insurance.

Financial Services

An activity which involves a specified investment and specified activity as defined in the Financial Services and Markets Act 2000 (Regulated Activities Order) 2001.

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UK and EU mandatory environmental reporting—which entities are caught?—checklist

UK and EU mandatory environmental reporting—which entities are caught?—checklist This Checklist summarises which companies and limited liability partnerships (LLPs) are subject to the principal UK and EU mandatory environmental reporting requirements. It provides a high level summary of, and includes links to the sources for, the relevant reporting requirements. For a more detailed summary of the relevant mandatory reporting requirements, see Practice Notes: CSR, ESG and human rights reporting and initiatives and EU mandatory corporate sustainability reporting. For a summary of the voluntary reporting requirements to which many companies and LLPs choose to adhere, see Practice Notes: TCFD recommendations and other ESG reporting frameworks, standards and benchmarks and Investor group guidance on environmental, social and governance (ESG) issues. UK requirements Requirement Scope Source Strategic report to contain description of principal risks and uncertainties. All companies (other than micro and small companies).Traded LLPs and banking LLPs. Companies Act 2006 (CA 2006), CA 2006, s 414C(2)(b)Applied to traded LLPs and banking LLPs by Limited Liability Partnerships (Accounts and Audit) (Application of Companies...

Offences for which a DPA may be entered into—checklist

Offences for which a DPA may be entered into—checklist A deferred prosecution agreement (DPA) is an agreement between an organisation and a designated prosecutor to enable the latter to defer a prosecution by staying an indictment on specific terms. No proceedings in relation to the matters covered by the DPA may be instituted against the organisation while the DPA remains in force. A DPA therefore allows a company to continue without the threat of a lengthy criminal investigation and a costly prosecution hanging over it. For detailed information on DPAs, see Practice Notes: • Deferred prosecution agreements • DPA process • Terms and content of a DPA • DPAs in practice DPA’s are only available to organisations in respect of the offences specified under the Crime and Courts Act 2013, Sch 17 (CCA 2013). The checklist below, lists the offences for which a DPA may be entered into, including common law and statutory offences. In addition to the offences below, any offence that is ancillary to those listed below,...

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Regulated mortgage contracts—flowchart

Regulated mortgage contracts—flowchart Background to and scope of this flowchart On 31 October 2004 (a date known as ‘M Day’), lenders and intermediaries of regulated mortgage contracts (RMCs) became regulated. A person that carries on a regulated activity in the UK by way of business, where there is no applicable exclusion or exemption, must be authorised under the Financial Services and Markets Act 2000 (FSMA 2000). The purpose of this flowchart is to set out the main questions to ask a person to determine whether or not they are carrying on the following RMC activities that are regulated under the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001, SI 2001/544 (RAO): • arranging (bringing about) RMCs (RAO, SI 2001/544, art 25A(1)) • making arrangements with a view to a person who participates in the arrangements entering into a RMC as a borrower (RAO, SI 2001/544, art 25A(2)) • making arrangements to enter into a RMC with a borrower on behalf of a lender (RAO, SI 2001/544, art 25A(2A)) •...

Home reversion plans and home purchase plans—flowchart

Home reversion plans and home purchase plans—flowchart Background to and scope of this flowchart A person that carries on a regulated activity in the UK by way of business, where there is no applicable exclusion or exemption, must be authorised under the Financial Services and Markets Act 2000 (FSMA 2000). For more information on the implications of a person carrying on a regulated activity, see Practice note: The general prohibition and implications of its breach. For more information about what it means to carry on business in the UK, see Practice Notes: What does 'by way of business' mean? and Territorial scope of the general prohibition. For more information about exemptions and exclusions that may be applicable, see Practice Notes: Regulated activities—exempt persons and Exclusions and exemptions relating to the general prohibition—an introduction. In December 2005, the Regulation of Financial Services (Land Transactions) Act 2005 (RFS(LT)A 2005) was enacted which enabled the Financial Conduct Authority (FCA) and its predecessor, the Financial Services Authority (FSA), to regulate activities that are similar...

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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 either:•an authorised person, or•an exempt personAn authorised person can only carry out regulated activities for which they have been given specific permission by the either the Financial Conduct Authority (FCA) or Prudential Regulation authority (PRA) (depending on the regulated activities carried on) under each regulator's respective authorisation process. For detailed guidance on the process for applying for Part 4A permission from either the FCA or PRA, see Practice Note: FCA and PRA authorisation under Part 4A of FSMA 2000 This Practice Note explains what constitutes regulated activities under the UK regulatory regime.Classes of activity and categories of investmentAn activity is a regulated activity if it is:•an activity of a specified kind which is carried on by way of business, and•relates to a specified investment or property of any kindIn addition, an activity is a regulated activity if it is an activity of a specified...

PRA-regulated activities and the scope of PRA regulation

As a result of the 2008 banking crisis, the government made a number of changes to the UK financial services regulatory structure. As part of the changes, the Prudential Regulation Authority (the PRA) was established. It is a legally distinct subsidiary of the Bank of England (the Bank) and is accountable to the Bank's Court of Directors. Both the chairman and the chief executive of the PRA are Bank executives. For more information on the structure of the PRA, see Practice Note: Prudential Regulation Authority—structure, constitution, functions and duties. The PRA has responsibility for micro to prudential regulation of firms that carry on PRA-regulated activities. The Financial Conduct Authority (FCA) is the prudential regulator for firms that do not carry on PRA-regulated activities, and is the conduct regulator for all firms that are prudentially regulated by either the PRA or FCA. The purpose of this Practice Note is to describe those regulated activities that fall within the scope of PRA regulation.PRA-regulated activitiesThe Financial Services and Markets Act 2000 (PRA-regulated Activities)...

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Special administration—witness statement in support of application for special administration

Special administration—witness statement in support of application for special administration Applicant [NAME OF WITNESS] First Witness Statement Date: [] Exhibit [XX1] Court Reference No: [INSERT COURT REF. NUMBER] [ IN THE HIGH COURT OF JUSTICE] BUSINESS AND PROPERTY COURTS [OF ENGLAND AND WALES] [IN [INSERT LOCATION]] [COMPANY & INSOLVENCY LIST (ChD)] OR [IN THE COUNTY COURT AT [INSERT LOCATION]] [BUSINESS AND PROPERTY COURTS LIST] OR [IN THE HIGH COURT OF JUSTICE] [CHANCERY DIVISION] OR IN THE MATTER OF [INVESTMENT BANK NAME] AND IN THE MATTER OF THE INVESTMENT BANK SPECIAL ADMINISTRATION REGULATIONS 2011 AND IN THE MATTER OF THE INSOLVENCY ACT 1986 _________________________________________ WITNESS STATEMENT OF [WITNESS NAME] ___________________________________________ I, [witness name], director [and chairperson] of [investment bank name] of [investment bank address] WILL SAY AS FOLLOWS: 1 I am [a director and] [the chairperson] of [investment bank address] with company number [company number] (the Company). The Company is a wholly-owned subsidiary of [insert details], a company incorporated in [location]. It is in...

Policy—volunteer

Policy—volunteer 1 Introduction 1.1 [Background on the organisation] 1.2 This policy sets out the framework for voluntary work in [organisation name]. It should be referred to by all in the organisation, including [paid staff, members, trustees and parents], as well as by volunteers. 1.3 This policy aims to help volunteers understand what support will be provided to them and what they can expect from us. 2 Statement of values 2.1 The aim of [organisation name] is [provide details]. Volunteers, ie those who contribute their time, energy and skills without payment, enable us to deliver our [services OR activities] to meet these aims. 2.2 We are committed to involve volunteers in the day-to-day life of the organisation, for example through [list examples]. 2.3 We acknowledge that volunteers make a positive and valuable contribution to our organisation and the community we serve. Volunteers are vital to our work. Volunteer help is greatly appreciated and really does make a difference. We aim to recognise, value and celebrate our volunteers. 2.4 Volunteering is...

Dive into our 3 Precedents related to Regulated activity

Where can I find information relating to FCA perimeter issues?

Where can I find information relating to FCA perimeter issues? The FCA's Perimeter Guidance manual (PERG) provides guidance about the circumstances in which authorisation is required, or exempt person status is available, including guidance on the activities which are regulated under the Financial Services and Markets Act 2000 (the Act) and the exclusions which are available. Application of the Perimeter Guidance manual (PERG) PERG applies to: • a person who is considering carrying on activities in the United Kingdom which may fall within the scope of the Act and is seeking guidance on whether he/she needs to be an authorised person • a person who seeks to become an authorised person under the Act and who is, or is considering, applying for Part 4A permission to carry on regulated activities in the United Kingdom • a person who is seeking guidance on whether any communication he/she may be seeking to make or cause to be made will be a financial promotion and be subject to the restriction...

If a person is exempt from carrying on a regulated activity and therefore not required to be authorised, is a loan made by that person or company to an employee also exempt, ie the loan would not be a regulated mortgage contract under the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001, SI 2001/544 and FCA's Perimeter Guidance manual?

If a person is exempt from carrying on a regulated activity and therefore not required to be authorised, is a loan made by that person or company to an employee also exempt, ie the loan would not be a regulated mortgage contract under the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001, SI 2001/544 and FCA's Perimeter Guidance manual? Under section 19 of the Financial Services and Markets Act 2000 (FSMA 2000), a person cannot carry out a regulated activity, or purport to do so, in the UK unless they are either an authorised person (ie authorised by the Prudential Regulation Authority (PRA) and/or the Financial Conduct Authority (FCA)), or an exempt person (eg by being an appointed representative). An activity is a regulated activity if it is: • an activity of a specified kind which is carried on by way of business, and • relates to a specified investment or property of any kind For an overview of the regulated activities regime in the UK, see...

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What to note as HM Treasury, FCA plan new crypto regs

Law360, Expert analysis: Since 2023, the UK government has engaged with the cryptoasset industry as part of its efforts to develop a regulatory regime for cryptoasset activities and services. On 29 April 2025, HM Treasury published a draft statutory instrument to create new regulated activities for cryptoassets, and on 2 May 2025, the Financial Conduct Authority (FCA) published a discussion paper on regulating cryptoasset activities. Mark Chalmers counsel at Davis Polk & Wardwell LLP, discusses the main takeaways from these recently published documents.

FCA exercises own-initiative powers to restrict Strowz Ltd from carrying out regulated activities

The Financial Conduct Authority (FCA) has published a press release and issued a First Supervisory Notice (FSN) to Strowz Ltd, exercising its own-initiative powers under section 55L(3)(a) of the Financial Services and Markets Act 2000 (FSMA 2000) to restrict the firm's ability to perform regulated activities and to manage its assets. This regulatory intervention follows the FCA’s ‘serious concerns’ regarding Strowz Ltd’s failure to adhere to minimum requirements that firms need to meet to carry on regulated activities. The issues identified included inadequate financial systems for safeguarding client money, a lack of proper controls to prevent the commingling of client funds with the firm’s own funds, and a failure to adequately notify the FCA regarding important financial transactions and bank account disclosures.

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