{
  "url": "https://openlegislation.uk/draft-financial-services-and-markets-act-2000-excluded-activities-and-prohibitions-order-2014",
  "json_url": "https://openlegislation.uk/draft-financial-services-and-markets-act-2000-excluded-activities-and-prohibitions-order-2014.json",
  "id": "ukdsi/2014/9780111117101",
  "title": "The Financial Services and Markets Act 2000 (Excluded Activities and Prohibitions) Order 2014",
  "short_title": "Financial Services and Markets Act 2000 (Excluded Activities and Prohibitions) 2014",
  "long_title": "This Order defines the circumstances in which ring-fenced bodies will be able to deal with investments as principal by providing for exceptions to the excluded activity set out in section 142D of the Financial Services and Markets Act 2000 in relation to the management by the ring-fenced body of its own risks or of its liquid assets or the provision of derivatives to its clients. The Order also imposes prohibitions on ring-fenced bodies under section 142E, which (with the exceptions provided for) limit the way in which a ring-fenced body may have access to clearing and settlement services provided by a recognised inter-bank payment system, restrict the exposures a ring-fenced body may have to relevant financial institutions, and ensure that a ring-fenced body may not have a subsidiary or branch in any country outside the EEA (other than operational subsidiaries which do not provide banking services).",
  "citation": "Draft 2014, ISBN 9780111117101",
  "type": "ukdsi",
  "year": "2014",
  "number": "9780111117101",
  "version": "current",
  "date": null,
  "revised": false,
  "valid_from": null,
  "extent": null,
  "unapplied_effects": 0,
  "provisions": [
    {
      "path": "introduction",
      "kind": "introduction",
      "number": null,
      "heading": "Introductory text",
      "url": "https://openlegislation.uk/draft-financial-services-and-markets-act-2000-excluded-activities-and-prohibitions-order-2014/introduction",
      "extent": null,
      "status": null,
      "parent": null
    },
    {
      "path": "part/1",
      "kind": "part",
      "number": "1",
      "heading": "GENERAL",
      "url": null,
      "extent": null,
      "status": null,
      "parent": null
    },
    {
      "path": "article/1",
      "kind": "article",
      "number": "1",
      "heading": "Citation, commencement and interpretation",
      "url": "https://openlegislation.uk/draft-financial-services-and-markets-act-2000-excluded-activities-and-prohibitions-order-2014/article-1",
      "extent": null,
      "status": null,
      "parent": "part/1"
    },
    {
      "path": "article/2",
      "kind": "article",
      "number": "2",
      "heading": "Relevant financial institution",
      "url": "https://openlegislation.uk/draft-financial-services-and-markets-act-2000-excluded-activities-and-prohibitions-order-2014/article-2",
      "extent": null,
      "status": null,
      "parent": "part/1"
    },
    {
      "path": "article/3",
      "kind": "article",
      "number": "3",
      "heading": "Securitisation companies and structured finance vehicles: definitions",
      "url": "https://openlegislation.uk/draft-financial-services-and-markets-act-2000-excluded-activities-and-prohibitions-order-2014/article-3",
      "extent": null,
      "status": null,
      "parent": "part/1"
    },
    {
      "path": "part/2",
      "kind": "part",
      "number": "2",
      "heading": "EXCLUDED ACTIVITIES AND EXCEPTIONS",
      "url": null,
      "extent": null,
      "status": null,
      "parent": null
    },
    {
      "path": "article/4",
      "kind": "article",
      "number": "4",
      "heading": "Excluded activities: dealing in investments as principal",
      "url": "https://openlegislation.uk/draft-financial-services-and-markets-act-2000-excluded-activities-and-prohibitions-order-2014/article-4",
      "extent": null,
      "status": null,
      "parent": "part/2"
    },
    {
      "path": "article/5",
      "kind": "article",
      "number": "5",
      "heading": "Excluded activities: commodities trading",
      "url": "https://openlegislation.uk/draft-financial-services-and-markets-act-2000-excluded-activities-and-prohibitions-order-2014/article-5",
      "extent": null,
      "status": null,
      "parent": "part/2"
    },
    {
      "path": "article/6",
      "kind": "article",
      "number": "6",
      "heading": "Excluded activities: general exceptions",
      "url": "https://openlegislation.uk/draft-financial-services-and-markets-act-2000-excluded-activities-and-prohibitions-order-2014/article-6",
      "extent": null,
      "status": null,
      "parent": "part/2"
    },
    {
      "path": "article/7",
      "kind": "article",
      "number": "7",
      "heading": "Excluded activities: securitisation and covered bonds",
      "url": "https://openlegislation.uk/draft-financial-services-and-markets-act-2000-excluded-activities-and-prohibitions-order-2014/article-7",
      "extent": null,
      "status": null,
      "parent": "part/2"
    },
    {
      "path": "article/8",
      "kind": "article",
      "number": "8",
      "heading": "Excluded activities: central bank exemption",
      "url": "https://openlegislation.uk/draft-financial-services-and-markets-act-2000-excluded-activities-and-prohibitions-order-2014/article-8",
      "extent": null,
      "status": null,
      "parent": "part/2"
    },
    {
      "path": "article/9",
      "kind": "article",
      "number": "9",
      "heading": "Excluded activities: derivatives",
      "url": "https://openlegislation.uk/draft-financial-services-and-markets-act-2000-excluded-activities-and-prohibitions-order-2014/article-9",
      "extent": null,
      "status": null,
      "parent": "part/2"
    },
    {
      "path": "article/10",
      "kind": "article",
      "number": "10",
      "heading": "Derivatives: forward contracts and swaps",
      "url": "https://openlegislation.uk/draft-financial-services-and-markets-act-2000-excluded-activities-and-prohibitions-order-2014/article-10",
      "extent": null,
      "status": null,
      "parent": "part/2"
    },
    {
      "path": "article/11",
      "kind": "article",
      "number": "11",
      "heading": "Derivatives: options and swaptions",
      "url": "https://openlegislation.uk/draft-financial-services-and-markets-act-2000-excluded-activities-and-prohibitions-order-2014/article-11",
      "extent": null,
      "status": null,
      "parent": "part/2"
    },
    {
      "path": "article/12",
      "kind": "article",
      "number": "12",
      "heading": "Derivatives: general conditions",
      "url": "https://openlegislation.uk/draft-financial-services-and-markets-act-2000-excluded-activities-and-prohibitions-order-2014/article-12",
      "extent": null,
      "status": null,
      "parent": "part/2"
    },
    {
      "path": "part/3",
      "kind": "part",
      "number": "3",
      "heading": "PROHIBITIONS AND EXCEPTIONS",
      "url": null,
      "extent": null,
      "status": null,
      "parent": null
    },
    {
      "path": "article/13",
      "kind": "article",
      "number": "13",
      "heading": "Prohibitions: inter-bank payment systems",
      "url": "https://openlegislation.uk/draft-financial-services-and-markets-act-2000-excluded-activities-and-prohibitions-order-2014/article-13",
      "extent": null,
      "status": null,
      "parent": "part/3"
    },
    {
      "path": "article/14",
      "kind": "article",
      "number": "14",
      "heading": "Prohibitions: financial institution exposures",
      "url": "https://openlegislation.uk/draft-financial-services-and-markets-act-2000-excluded-activities-and-prohibitions-order-2014/article-14",
      "extent": null,
      "status": null,
      "parent": "part/3"
    },
    {
      "path": "article/15",
      "kind": "article",
      "number": "15",
      "heading": "Financial institutions exposures: trade finance",
      "url": "https://openlegislation.uk/draft-financial-services-and-markets-act-2000-excluded-activities-and-prohibitions-order-2014/article-15",
      "extent": null,
      "status": null,
      "parent": "part/3"
    },
    {
      "path": "article/16",
      "kind": "article",
      "number": "16",
      "heading": "Financial institutions exposure: securitisation and covered bonds",
      "url": "https://openlegislation.uk/draft-financial-services-and-markets-act-2000-excluded-activities-and-prohibitions-order-2014/article-16",
      "extent": null,
      "status": null,
      "parent": "part/3"
    },
    {
      "path": "article/17",
      "kind": "article",
      "number": "17",
      "heading": "Financial institution exposures: conduit lending",
      "url": "https://openlegislation.uk/draft-financial-services-and-markets-act-2000-excluded-activities-and-prohibitions-order-2014/article-17",
      "extent": null,
      "status": null,
      "parent": "part/3"
    },
    {
      "path": "article/18",
      "kind": "article",
      "number": "18",
      "heading": "Financial institution exposures: repo transactions",
      "url": "https://openlegislation.uk/draft-financial-services-and-markets-act-2000-excluded-activities-and-prohibitions-order-2014/article-18",
      "extent": null,
      "status": null,
      "parent": "part/3"
    },
    {
      "path": "article/19",
      "kind": "article",
      "number": "19",
      "heading": "Financial institution exposures: ancillary exposures",
      "url": "https://openlegislation.uk/draft-financial-services-and-markets-act-2000-excluded-activities-and-prohibitions-order-2014/article-19",
      "extent": null,
      "status": null,
      "parent": "part/3"
    },
    {
      "path": "article/20",
      "kind": "article",
      "number": "20",
      "heading": "Prohibitions: Non-EEA branches and subsidiaries",
      "url": "https://openlegislation.uk/draft-financial-services-and-markets-act-2000-excluded-activities-and-prohibitions-order-2014/article-20",
      "extent": null,
      "status": null,
      "parent": "part/3"
    },
    {
      "path": "article/21",
      "kind": "article",
      "number": "21",
      "heading": "Transitional provision",
      "url": "https://openlegislation.uk/draft-financial-services-and-markets-act-2000-excluded-activities-and-prohibitions-order-2014/article-21",
      "extent": null,
      "status": null,
      "parent": "part/3"
    },
    {
      "path": "signature",
      "kind": "signature",
      "number": null,
      "heading": "Signature",
      "url": "https://openlegislation.uk/draft-financial-services-and-markets-act-2000-excluded-activities-and-prohibitions-order-2014/signature",
      "extent": null,
      "status": null,
      "parent": null
    },
    {
      "path": "schedule",
      "kind": "schedule",
      "number": null,
      "heading": null,
      "url": null,
      "extent": null,
      "status": null,
      "parent": null
    },
    {
      "path": "schedule/paragraph/1",
      "kind": "paragraph",
      "number": "1",
      "heading": null,
      "url": "https://openlegislation.uk/draft-financial-services-and-markets-act-2000-excluded-activities-and-prohibitions-order-2014/schedule/paragraph-1",
      "extent": null,
      "status": null,
      "parent": "schedule"
    },
    {
      "path": "schedule/paragraph/2",
      "kind": "paragraph",
      "number": "2",
      "heading": null,
      "url": "https://openlegislation.uk/draft-financial-services-and-markets-act-2000-excluded-activities-and-prohibitions-order-2014/schedule/paragraph-2",
      "extent": null,
      "status": null,
      "parent": "schedule"
    },
    {
      "path": "schedule/paragraph/3",
      "kind": "paragraph",
      "number": "3",
      "heading": null,
      "url": "https://openlegislation.uk/draft-financial-services-and-markets-act-2000-excluded-activities-and-prohibitions-order-2014/schedule/paragraph-3",
      "extent": null,
      "status": null,
      "parent": "schedule"
    },
    {
      "path": "schedule/paragraph/4",
      "kind": "paragraph",
      "number": "4",
      "heading": null,
      "url": "https://openlegislation.uk/draft-financial-services-and-markets-act-2000-excluded-activities-and-prohibitions-order-2014/schedule/paragraph-4",
      "extent": null,
      "status": null,
      "parent": "schedule"
    },
    {
      "path": "schedule/paragraph/5",
      "kind": "paragraph",
      "number": "5",
      "heading": null,
      "url": "https://openlegislation.uk/draft-financial-services-and-markets-act-2000-excluded-activities-and-prohibitions-order-2014/schedule/paragraph-5",
      "extent": null,
      "status": null,
      "parent": "schedule"
    },
    {
      "path": "schedule/paragraph/6",
      "kind": "paragraph",
      "number": "6",
      "heading": null,
      "url": "https://openlegislation.uk/draft-financial-services-and-markets-act-2000-excluded-activities-and-prohibitions-order-2014/schedule/paragraph-6",
      "extent": null,
      "status": null,
      "parent": "schedule"
    },
    {
      "path": "schedule/paragraph/7",
      "kind": "paragraph",
      "number": "7",
      "heading": null,
      "url": "https://openlegislation.uk/draft-financial-services-and-markets-act-2000-excluded-activities-and-prohibitions-order-2014/schedule/paragraph-7",
      "extent": null,
      "status": null,
      "parent": "schedule"
    },
    {
      "path": "schedule/paragraph/8",
      "kind": "paragraph",
      "number": "8",
      "heading": null,
      "url": "https://openlegislation.uk/draft-financial-services-and-markets-act-2000-excluded-activities-and-prohibitions-order-2014/schedule/paragraph-8",
      "extent": null,
      "status": null,
      "parent": "schedule"
    },
    {
      "path": "schedule/paragraph/9",
      "kind": "paragraph",
      "number": "9",
      "heading": null,
      "url": "https://openlegislation.uk/draft-financial-services-and-markets-act-2000-excluded-activities-and-prohibitions-order-2014/schedule/paragraph-9",
      "extent": null,
      "status": null,
      "parent": "schedule"
    },
    {
      "path": "schedule/paragraph/10",
      "kind": "paragraph",
      "number": "10",
      "heading": null,
      "url": "https://openlegislation.uk/draft-financial-services-and-markets-act-2000-excluded-activities-and-prohibitions-order-2014/schedule/paragraph-10",
      "extent": null,
      "status": null,
      "parent": "schedule"
    },
    {
      "path": "schedule/paragraph/11",
      "kind": "paragraph",
      "number": "11",
      "heading": null,
      "url": "https://openlegislation.uk/draft-financial-services-and-markets-act-2000-excluded-activities-and-prohibitions-order-2014/schedule/paragraph-11",
      "extent": null,
      "status": null,
      "parent": "schedule"
    },
    {
      "path": "schedule/paragraph/12",
      "kind": "paragraph",
      "number": "12",
      "heading": null,
      "url": "https://openlegislation.uk/draft-financial-services-and-markets-act-2000-excluded-activities-and-prohibitions-order-2014/schedule/paragraph-12",
      "extent": null,
      "status": null,
      "parent": "schedule"
    },
    {
      "path": "schedule/paragraph/13",
      "kind": "paragraph",
      "number": "13",
      "heading": null,
      "url": "https://openlegislation.uk/draft-financial-services-and-markets-act-2000-excluded-activities-and-prohibitions-order-2014/schedule/paragraph-13",
      "extent": null,
      "status": null,
      "parent": "schedule"
    },
    {
      "path": "schedule/paragraph/14",
      "kind": "paragraph",
      "number": "14",
      "heading": null,
      "url": "https://openlegislation.uk/draft-financial-services-and-markets-act-2000-excluded-activities-and-prohibitions-order-2014/schedule/paragraph-14",
      "extent": null,
      "status": null,
      "parent": "schedule"
    },
    {
      "path": "schedule/paragraph/15",
      "kind": "paragraph",
      "number": "15",
      "heading": null,
      "url": "https://openlegislation.uk/draft-financial-services-and-markets-act-2000-excluded-activities-and-prohibitions-order-2014/schedule/paragraph-15",
      "extent": null,
      "status": null,
      "parent": "schedule"
    },
    {
      "path": "schedule/paragraph/16",
      "kind": "paragraph",
      "number": "16",
      "heading": null,
      "url": "https://openlegislation.uk/draft-financial-services-and-markets-act-2000-excluded-activities-and-prohibitions-order-2014/schedule/paragraph-16",
      "extent": null,
      "status": null,
      "parent": "schedule"
    },
    {
      "path": "schedule/paragraph/17",
      "kind": "paragraph",
      "number": "17",
      "heading": null,
      "url": "https://openlegislation.uk/draft-financial-services-and-markets-act-2000-excluded-activities-and-prohibitions-order-2014/schedule/paragraph-17",
      "extent": null,
      "status": null,
      "parent": "schedule"
    },
    {
      "path": "schedule/paragraph/18",
      "kind": "paragraph",
      "number": "18",
      "heading": null,
      "url": "https://openlegislation.uk/draft-financial-services-and-markets-act-2000-excluded-activities-and-prohibitions-order-2014/schedule/paragraph-18",
      "extent": null,
      "status": null,
      "parent": "schedule"
    },
    {
      "path": "schedule/paragraph/19",
      "kind": "paragraph",
      "number": "19",
      "heading": null,
      "url": "https://openlegislation.uk/draft-financial-services-and-markets-act-2000-excluded-activities-and-prohibitions-order-2014/schedule/paragraph-19",
      "extent": null,
      "status": null,
      "parent": "schedule"
    },
    {
      "path": "schedule/paragraph/20",
      "kind": "paragraph",
      "number": "20",
      "heading": null,
      "url": "https://openlegislation.uk/draft-financial-services-and-markets-act-2000-excluded-activities-and-prohibitions-order-2014/schedule/paragraph-20",
      "extent": null,
      "status": null,
      "parent": "schedule"
    },
    {
      "path": "schedule/paragraph/21",
      "kind": "paragraph",
      "number": "21",
      "heading": null,
      "url": "https://openlegislation.uk/draft-financial-services-and-markets-act-2000-excluded-activities-and-prohibitions-order-2014/schedule/paragraph-21",
      "extent": null,
      "status": null,
      "parent": "schedule"
    },
    {
      "path": "note",
      "kind": "note",
      "number": null,
      "heading": "Explanatory note",
      "url": "https://openlegislation.uk/draft-financial-services-and-markets-act-2000-excluded-activities-and-prohibitions-order-2014/note",
      "extent": null,
      "status": null,
      "parent": null
    }
  ],
  "has_text": true,
  "pdfs": [
    {
      "title": "Printed copy",
      "main": true,
      "language": null,
      "date": "2014-06-26",
      "size": 141804,
      "url": "https://openlegislation.uk/draft-financial-services-and-markets-act-2000-excluded-activities-and-prohibitions-order-2014/pdf/ukdsi_9780111117101_en.pdf",
      "source_url": "https://www.legislation.gov.uk/ukdsi/2014/9780111117101/pdfs/ukdsi_9780111117101_en.pdf"
    },
    {
      "title": "UK Draft Explanatory Memorandum",
      "main": false,
      "language": null,
      "date": "2014-06-25",
      "size": 51131,
      "url": "https://openlegislation.uk/draft-financial-services-and-markets-act-2000-excluded-activities-and-prohibitions-order-2014/pdf/ukdsiem_9780111117101_en.pdf",
      "source_url": "https://www.legislation.gov.uk/ukdsi/2014/9780111117101/pdfs/ukdsiem_9780111117101_en.pdf"
    }
  ],
  "outstanding_effects": [],
  "made_under": [
    {
      "id": "ukpga/2000/8",
      "title": "Financial Services and Markets Act 2000",
      "url": "https://openlegislation.uk/financial-services-and-markets-act-2000",
      "provisions": [
        "section/142D",
        "section/142E",
        "section/142F"
      ]
    }
  ],
  "changes_made_to": 0,
  "changes_made_to_url": "https://openlegislation.uk/draft-financial-services-and-markets-act-2000-excluded-activities-and-prohibitions-order-2014/changes.json",
  "changes_made_by": 0,
  "changes_made_by_url": "https://openlegislation.uk/draft-financial-services-and-markets-act-2000-excluded-activities-and-prohibitions-order-2014/changes/by-it.json",
  "instruments_made_under": 0,
  "instruments_made_under_url": "https://openlegislation.uk/draft-financial-services-and-markets-act-2000-excluded-activities-and-prohibitions-order-2014/instruments.json",
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukdsi/2014/9780111117101",
    "retrieved_at": "2026-10-30T15:12:39.977757+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}