Paragraph 7 The Financial Services and Markets Act 2000 (Appointed Representatives) Regulations 2001

(1)

The Financial Services and Markets Act 2000 (Appointed Representatives) Regulations 2001^f1 are amended as follows.

(2)

In regulation 2(1) (descriptions of business for which appointed representatives are exempt)^f2, after sub-paragraph (cc) insert—

“(cca)
an activity of the kind specified by article 53DA of that Order (advising on regulated credit agreements for the acquisition of land);”.

(3)

In regulation 3(3) (requirements applying to contracts between authorised persons and appointed representatives)^f3—

(a)

after sub-paragraph (a)(ii) omit “or”;

(b)

in sub-paragraph (b)(ii) for “with other counterparties.” substitute—

“with other counterparties; or

(c)
gives advice (in circumstances constituting the carrying on of an activity of the kind specified by article 53DA of that Order) which consists of the provision of personal recommendations to a person in respect of one or more transactions with other counterparties.”.

Annotations

Footnotes

f1: S.I. 2001/2188.
f2: Regulation 2(1) was amended by S.I. 2001/2508, 2003/1475 and 1476, 2004/453 and 2737, 2006/2383, 2012/1906, 2013/1881 and 2014/206
f3: Regulation 3(3) was inserted by S.I. 2003/1475.