Q&As

How can an unregulated parent manage a FCA regulated subsidiary without obtaining authorisation itself?

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Published on LexisPSL on 23/10/2019

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

  • How can an unregulated parent manage a FCA regulated subsidiary without obtaining authorisation itself?

A firm which carries on regulated activities as defined in section 22 of the Financial Services and Markets Act 2000 (FSMA 2000) can only do so if it is authorised to do so by the Prudential Regulation Authority (PRA) or the Financial Conduct Authority (FCA) or is otherwise exempt. This is known as the general prohibition. For more information, see Practice Notes: The general prohibition and implicatio

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