The following Financial Services practice note provides comprehensive and up to date legal information covering:
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 the effective continuation of legislation in the UK after Exit Day (in the event of a no-deal Brexit), it is necessary for numerous statutory instruments to be made. One of these is the Financial Services and Markets Act 2000 (Amendment) (EU Exit) Regulations 2019, SI 2019/632. Pt 3 of the Regulations contains amendments to the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001, SI 2001/544 (RAO). Also, Financial Services (Miscellaneous) (Amendment) (EU Exit) Regulations 2019, SI 2019/710, Part 3 and the Electronic Commerce and Solvency 2 (Amendment etc) (EU Exit) Regulations 2019, SI 2019/1361, Pt 3 proposes minor amendments to the RAO. The parts of both Regulations relating to the RAO will come into force on Exit Day.
For more information about SI 2019/1361, see Practice Note Preparing for Brexit: Solvency II—quick guide
In addition to exclusions which are specific to particular types of regulated activity, there are exclusions available for several kinds of activity which are set out under Chapter XVII (arts 66-72J) of the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001, SI 2001/544 (RAO).
For information about exclusions which are specific to particular types of regulated activities, see Practice Notes: Exclusions specifically applying
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