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?

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Published on LexisPSL on 25/02/2019

The following Financial Services Q&A provides comprehensive and up to date legal information covering:

  • 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 (Regulated Activities) Order 2001 (RAO), SI 2001/544, Art 53 excludes the giving of advice by a person if the person is a member of a group and gives the advice in question to another member of the same group.

Therefore, the general principle is that as long as advice that would otherwise be regulated advice ta

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