{
  "url": "https://openlegislation.uk/financial-services-and-markets-act-2000-regulated-activities-order-2001/schedule-3/paragraph-2",
  "json_url": "https://openlegislation.uk/financial-services-and-markets-act-2000-regulated-activities-order-2001/schedule-3/paragraph-2.json",
  "legislation": "uksi/2001/544",
  "legislation_title": "The Financial Services and Markets Act 2000 (Regulated Activities) Order 2001",
  "legislation_url": "https://openlegislation.uk/financial-services-and-markets-act-2000-regulated-activities-order-2001",
  "path": "schedule/3/paragraph/2",
  "kind": "paragraph",
  "number": "2",
  "heading": null,
  "text": "This paragraph applies if—\n(a) P's main business is not—\n(i) the provision of investment services;\n(ii) banking activities requiring permission under Part 4A of the Act (or banking activities which would require such permission if they were carried on in the United Kingdom); or\n(iii) acting as a market-maker in relation to commodity derivatives;\n(b) P does not apply a high-frequency algorithmic trading technique; and\n(c) P reports to the FCA under regulation 47 of the Financial Services and Markets Act 2000 (Markets in Financial Instruments) Regulations 2017, upon request, the basis on which P considers that P's activity under points (i) and (ii) is ancillary to P's main business.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "Sch. 3 substituted (31.12.2020) by The Markets in Financial Instruments (Amendment) (EU Exit) Regulations 2018 (S.I. 2018/1403), regs. 1(3), 4(8) (with savings in S.I. 2019/680, reg. 11 (as amended by S.I. 2019/1233, regs. 1(3), 3 and S.I. 2019/710, regs. 1(2), 16(2)(c)); 2020 c. 1, Sch. 5 para. 1(1)"
    },
    {
      "type": "F",
      "label": "F2",
      "text": "Words in Sch. 3 Pt. 1 para. 2(c) substituted (1.1.2025) by The Financial Services and Markets Act 2000 (Commodity Derivatives and Emission Allowances) Order 2023 (S.I. 2023/548), arts. 1(2), 2(5)"
    }
  ],
  "outstanding_effects": [
    {
      "type": "words substituted",
      "affecting": "uksi/2025/1205",
      "affecting_title": "The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2025"
    },
    {
      "type": "inserted",
      "affecting": "uksi/2025/1205",
      "affecting_title": "The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2025"
    },
    {
      "type": "words inserted",
      "affecting": "uksi/2025/1205",
      "affecting_title": "The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2025"
    },
    {
      "type": "words inserted",
      "affecting": "uksi/2025/1205",
      "affecting_title": "The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2025"
    },
    {
      "type": "words inserted",
      "affecting": "uksi/2025/1205",
      "affecting_title": "The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2025"
    }
  ],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/2001/544/schedule/3/paragraph/2",
    "retrieved_at": "2026-10-29T08:01:12.377334+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."
}