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The Consumer Composite Investments (Designated Activities) Regulations 2024
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This is a draft item of legislation. This draft has since been made as a UK Statutory Instrument: The Consumer Composite Investments (Designated Activities) Regulations 2024 No. 1198
Civil liability for breaches of designated activity rules
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9.—(1) A contravention of a designated activity rule made by virtue of regulation 6 is actionable at the suit of a retail investor who suffers loss as a result of the contravention, subject to the defences and other incidents applying to actions for breach of statutory duty.
(2) If designated activity rules made by virtue of regulation 6 so provide, paragraph (1) does not apply to a contravention of a specified provision of the rules.
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