In or Out? A Guide to Regulated Activities, Key Exemptions & Exclusions under the FSMA
Working out whether business activities fall within the scope of the Financial Services and Markets Act 2000 (FSMA) is not always easy.
Over time, many of the ‘regulated activities’ outlined in FSMA and embellished upon in the FSMA (Regulated Activities) Order 2001 (RAO) have grown and changed to adapt to changes in business, the market, and risks.
Authorisation under FSMA is not a ‘one-size-fits-all’ exercise. Businesses that may fall within the regulatory perimeter need to consider each activity they carry out, and assess whether any exclusions or exemptions could apply to take business that would otherwise require authorisation outside scope.
Getting the perimeter analysis right is critical, and could lead to criminal or disciplinary offences, unenforceable contracts, payment of compensation and reputational damage.
This webinar is aimed at those who are not specialist financial services advisory practitioners, but whose business or whose clients' business may involve regulated activities and is designed to help identify areas of risk.
What You Will Learn
This webinar will cover the following:
- The FSMA ‘general prohibition’ and consequences of breach
- The structure of the RAO
- Specified investments and activities
- Exclusions and exemptions
- Regulatory guidance