Q&As

Would lending to an individual where the loan is secured by a second charge be viewed as a regulated activity? Would a person carrying on this activity be able to rely on an exemption?

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Published on LexisPSL on 29/09/2017

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

  • Would lending to an individual where the loan is secured by a second charge be viewed as a regulated activity? Would a person carrying on this activity be able to rely on an exemption?

Would lending to an individual where the loan is secured by a second charge be viewed as a regulated activity? Would a person carrying on this activity be able to rely on an exemption?

Under the general prohibition contained in section 19 of the Financial Services and Markets Act 2000, a person cannot carry out a regulated activity, or purport to carry out a regulated activity, in the UK unless they are either:

  1. an authorised person, or

  2. an exempt person

An activity is a regulated activity if it is:

  1. an activity of a specified kind which is carried on by way of business, and

  2. relates to a specified investment or

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