Exclusions applying to several specified kinds of activity

The following Financial Services practice note provides comprehensive and up to date legal information covering:

  • Exclusions applying to several specified kinds of activity
  • MiFID, IDD and MCD overrides
  • MiFID override
  • IDD override
  • MCD override
  • Trustees, nominees and personal representatives
  • Activities carried on in the course of a profession or non-investment business
  • Activities carried out in connection with the sale of goods or supply of services
  • Groups and joint enterprises
  • Activities carried on in connection with the sale of a body corporate
  • More...

Exclusions applying to several specified kinds of activity

BREXIT: 11pm (GMT) on 31 December 2020 (‘IP completion day’) marked the end of the Brexit transition/implementation period entered into following the UK’s withdrawal from the EU. Following IP completion day, key transitional arrangements come to an end and significant changes begin to take effect across the UK’s legal regime. This document contains guidance on subjects impacted by these changes. Before continuing your research, see: Brexit and financial services: materials on the post-Brexit UK/EU regulatory regime.

For more information about SI 2019/1361, see Practice Note Impact of Brexit: E-commerce and financial services-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 to accepting deposits, e-money and home finance transactions, Exclusions applying to the specified activities relating to investments and Exclusions applying to specified activities relating to insurance.

The diagram below outlines the exclusions and the following sections of this Practice Note describe them in more detail.

MiFID, IDD and MCD overrides

The application of certain of the exclusions considered in this Practice Note is modified in relation

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