Paragraph 4 Arranging deals in investments

United Kingdom

(1)

Making arrangements for another person (whether as principal or agent) to buy, sell, subscribe for or underwrite a particular investment which is—

(a)

a security;

F1(aa)

a structured deposit;

F2(ab)

a qualifying cryptoasset;

(b)

a contractually based investment; or

(c)

an investment of the kind specified by paragraph 24, or paragraph 27 so far as relevant to that paragraph,

is a controlled activity.

(2)

Making arrangements with a view to a person who participates in the arrangements buying, selling, subscribing for or underwriting investments falling within sub-paragraph (1)(a), F3(aa), F4(ab), (b) or (c) (whether as principal or agent) is a controlled activity.

(3)

A person does not carry on an activity falling within paragraph (2) merely by providing means by which one party to a transaction (or potential transaction) is able to communicate with other such parties.

F5(4)

This paragraph does not apply to the activity specified by paragraph 7C (qualifying cryptoasset staking).

Annotations

Textual amendments

F1: Sch. 1 para. 4(1)(aa) 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)(b)(i)
F2: Sch. 1 para. 4(1)(ab) 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(b)(i) (with art. 11)
F3: Word in Sch. 1 para. 4(2) 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)(b)(ii)
F4: Word in Sch. 1 para. 4(2) 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(b)(ii) (with art. 11)
F5: Sch. 1 para. 4(4) inserted (25.2.2026 for specified purposes, otherwise prosp.) by The Financial Services and Markets Act 2000 (Cryptoassets) Regulations 2026 (S.I. 2026/102), regs. 1(2)(3), 42(5)(a)(i) (with regs. 53-56)