The following Financial Services guidance note provides comprehensive and up to date legal information covering:
Under the general prohibition a person cannot carry out a regulated activity, or purport to carry out a regulated activity, in the UK unless they are either:
an authorised person, or
an exempt person
An authorised person can only carry out regulated activities for which they have been given specific permission by the either the Financial Conduct Authority (FCA) or Prudential Regulation Authority (PRA) (depending on the regulated activities carried on) under each regulator's respective authorisation process. For detailed guidance on the process for applying for Part 4A permission from either the FCA or PRA, see Practice Notes: Financial Conduct Authority—authorisation and Prudential Regulation Authority—authorisation. This Practice Note explains what constitutes regulated activities under the UK regulatory regime.
An activity is a regulated activity if it is:
an activity of a specified kind which is carried on by way of business, and
relates to a specified investment or property of any kind
In addition, an activity is a regulated activity if it is an activity of a specified kind which is carried on by way of business and relates to:
information about a person's standing
the setting of a specified benchmark, or
administering a benchmark
For more information on the regulation of consumer credit by the FCA, including credit reference agencies who provide information about a
**Trials are provided to all LexisPSL and LexisLibrary content, excluding Practice Compliance, Practice Management and Risk and Compliance, subscription packages are tailored to your specific needs. To discuss trialling these LexisPSL services please email customer service via our online form. Free trials are only available to individuals based in the UK. We may terminate this trial at any time or decide not to give a trial, for any reason. Trial includes one question to LexisAsk during the length of the trial.
To view the latest version of this document and thousands of others like it, sign-in to LexisPSL or register for a free trial.
Existing user? Sign-in
Take a free trial
0330 161 1234
To view our latest legal guidance content,sign-in to Lexis®PSL or register for a free trial.