Paragraph 3 Dealing in securities , qualifying cryptoassets and contractually based investmentsF4

United Kingdom

(1)

Buying, selling, subscribing for or underwriting securities F1, structured deposits F2, qualifying cryptoassets or contractually based investments F3... as principal or agent is a controlled activity.

(2)

A person does not carry on the activity in sub-paragraph (1) by accepting an instrument creating or acknowledging indebtedness in respect of any loan, credit, guarantee or other similar financial accommodation or assurance which he has made, granted or provided.

(3)

The reference in sub-paragraph (2) to a person accepting an instrument includes a reference to a person becoming a party to an instrument otherwise than as a debtor or a surety.

Annotations

Textual amendments

F1: Words in Sch. 1 para. 3(1) inserted (1.4.2017 for specified purposes, 3.1.2018 in so far as not already in force) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2017 (S.I. 2017/488), art. 1(2), Sch. para. 9(10)(a)
F2: Words in Sch. 1 Pt. 1 para. 3(1) inserted (8.6.2023 for specified purposes, 7.10.2023 in so far as not already in force) by The Financial Services and Markets Act 2000 (Financial Promotion) (Amendment) Order 2023 (S.I. 2023/612), arts. 1(2), 8(a)(ii) (with art. 11)
F3: Words in Sch. 1 para. 3(1) omitted (28.1.2021 for specified purposes, 30.7.2022 in so far as not already in force) by virtue of The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2021 (S.I. 2021/90), arts. 1(2)(3), 5(2)
F4: Words in Sch. 1 para. 3 heading inserted (8.6.2023 for specified purposes, 7.10.2023 in so far as not already in force) by The Financial Services and Markets Act 2000 (Financial Promotion) (Amendment) Order 2023 (S.I. 2023/612), arts. 1(2), 8(a)(i) (with art. 11)