# The Financial Services and Markets Act 2000 (Regulated Activities) Order 2001, Article 55A: Providing Targeted Support


(1) Providing targeted support is a specified kind of activity.
(2) Where a person provides targeted support they are not advising an individual for the purposes of article 53 (advising on investments).
(3) For the purposes of paragraphs (1) and (2), a person (“P”) provides targeted support when—
(a) P uses information about an individual to group the individual with other individuals in a group who share—
(i) similar characteristics;
(ii) similar circumstances; or
(iii) similar characteristics and similar circumstances;
(b) P makes a recommendation which—
(i) is provided to the individual;
(ii) constitutes a recommendation for the individual to do or not do any of the following—
(aa) buy, sell, subscribe for, exchange, redeem, hold or underwrite a particular investment which is a security, structured deposit or a relevant investment; or
(bb) exercise any right conferred by such an investment to buy, sell, subscribe for, exchange or redeem such an investment; and
(iii) is presented as suitable for the individual on the basis of the individual being in the group; and
(c) P makes a statement to the individual in accordance with paragraphs (4) and (5).
(4) The statement made by P must specify—
(a) that the recommendation is not based on a comprehensive consideration by P of the individual’s characteristics or circumstances;
(b) that the recommendation is not specific to the individual; and
(c) the characteristics, or circumstances, or both if applicable, of the group which P has used as the basis for the recommendation.
(5) The statement must be made by P at the same time as the recommendation is made to the individual.
(6) In this article,
“the group” means the group of individuals referred to in paragraph (3)(a).

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Source: https://www.legislation.gov.uk/uksi/2001/544/article/55A (the official version)
Page: https://openlegislation.uk/financial-services-and-markets-act-2000-regulated-activities-order-2001/article-55A
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.