What are regulated activities?


Published by a ³ÉÈËÓ°Òô Financial Services expert
Practice notes

What are regulated activities?


Published by a ³ÉÈËÓ°Òô Financial Services expert

Practice notes
imgtext

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:

  1. •

    an authorised person, or

  2. •

    an exempt person

An authorised person can only carry out regulated activities for which they have been given specific permission by the either the authority'>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 Note: FCA and PRA authorisation under Part 4A of FSMA 2000 This Practice Note explains what constitutes regulated activities under the UK regulatory regime.

Classes of activity and categories of investment

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 property of any kind

In addition, an activity is a regulated activity

Powered by Lexis+®
Jurisdiction(s):
United Kingdom
Related legal acts:
Key definition:
General prohibition definition
What does General prohibition mean?

Under Section 19 of the Financial Services and Markets Act 2000, a person is prohibited from carrying on a regulated activity unless they are authorised or an exempt person.

Read more

Popular documents

The general prohibition and implications of its breach

The general prohibition and implications of its breachThe general prohibitionUnder section 19 of the Financial Services and Markets Act 2000 (FSMA 2000), a person cannot carry out regulated activities in the UK, or purport to do so, unless that person is authorised or exempt. This is known as the

Regulated activities relating to dormant assets

Regulated activities relating to dormant assetsSTOP PRESS—Impact of the Retained EU Law (Revocation and Reform) Act 2023: This document contains references to retained EU law (REUL) and associated terms introduced by the European Union (Withdrawal) Act 2018 in connection with Brexit. From 1 January

Dealing in investments

Dealing in investmentsSTOP PRESS—Impact of the Retained EU Law (Revocation and Reform) Act 2023: This document contains references to retained EU law (REUL) and associated terms introduced by the European Union (Withdrawal) Act 2018 in connection with Brexit. From 1 January 2024, REUL that remains

Arranging deals in investments and operating multilateral and organised trading facilities

Arranging deals in investments and operating multilateral and organised trading facilitiesArranging deals in investments, operating a multilateral trading facility (MTF) and operating an organised trading facility (OTF) are regulated activities under articles 25 and 25D of the Financial Services and