Q&As

If a person is exempt from carrying on a regulated activity and therefore not required to be authorised, is a loan made by that person or company to an employee also exempt, ie the loan would not be a regulated mortgage contract under the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001, SI 2001/544 and FCA's Perimeter Guidance manual?

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Published by a ÑÇÖÞÉ«ÇéÍø Financial Services expert
Published on: 16 May 2018
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Under section 19 of the Financial Services and Markets Act 2000 (FSMA 2000), a person cannot carry out a regulated Activity, or purport to do so, in the UK unless they are either an authorised person (ie authorised by the Prudential Regulation Authority (PRA) and/or the Financial Conduct Authority (FCA)), or an exempt person (eg by being an appointed representative).

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

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Jurisdiction(s):
United Kingdom
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Key definition:
Activity definition
What does Activity mean?

1 The rate at which radioactive material disintegrates or decays per unit time. The units can be measured as either a Curie (Ci) or a Becquerel (Bq). 2 An activity involving radioactive material that requires a licence.

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