C2 Part XX Provision of Financial Services by Members of the Professions

Annotations:
Modifications etc. (not altering text)
C2

Pt. 20 modified (E.W.S.) by S.I. 2000/119, Sch. 4 para. 11 (as substituted (1.7.2009 in accordance with art. 1(1)(c) of S.I. 2009/1587) by S.I. 2009/1587, art. 3(11))

332 Rules in relation to persons to whom the general prohibition does not apply.

1

The F1FCA may make rules applicable to persons to whom, as a result of section 327(1), the general prohibition does not apply.

2

The power conferred by subsection (1) is to be exercised for the purpose of ensuring that clients are aware that such persons are not authorised persons.

3

A designated professional body must make rules—

a

applicable to members of the profession in relation to which it is established who are not authorised persons; and

C1b

governing the carrying on by those members of regulated activities (other than regulated activities in relation to which they are exempt persons).

4

Rules made in compliance with subsection (3) must be designed to secure that, in providing a particular professional service to a particular client, the member carries on only regulated activities which arise out of, or are complementary to, the provision by him of that service to that client.

5

Rules made by a designated professional body under subsection (3) require the approval of the F1FCA.