Financial Promotions Order: Exemptions for deposits and insurance
Financial Promotions Order: Exemptions for deposits and insurance

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

  • Financial Promotions Order: Exemptions for deposits and insurance
  • Financial Promotions Order: Regulated activities covered by Part V
  • Deposits
  • Insurance
  • Financial Promotions Order: Categories of exemption
  • Financial Promotions Order: Deposits - non-real-time communications
  • Financial Promotions Order: Deposits - real-time communications
  • Common problems in retail banking financial promotions
  • Financial Promotions Order: Insurance - non-real-time communications
  • Financial Promotions Order: Insurance - real-time communications
  • More...

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.

The exemptions to the financial promotion restriction are contained in the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, SI 2005/1529 (FPO). For more information about the financial promotion restriction, see Practice Note: The financial promotion regime—essentials.

The FPO exemptions apply to communications relating to all kinds of controlled activity. The FPO exemptions to the restriction are split into three different categories:

  1. those applying all controlled activities (Pt IV)

  2. those applying to deposits and insurance (Pt V), and

  3. those applying to certain controlled activities (Pt VI)

This Practice Note looks at the exemptions that apply to communications relating to deposits and contracts of insurance other than life policies. These exemptions can be combined with the exemptions for all controlled activities (FPO SI 2005/1529, Pt IV).

Broadly, the effect of the exemptions in Pt V is:

  1. to remove the financial promotion restriction altogether in the case of real-time communications relating to deposits and

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