The Financial Services and Markets Act 2000 (Financial Promotion) (Amendment) (Electronic Commerce Directive) Order 2002

Incoming electronic commerce communications

6.  After article 20A, insert—

“Incoming electronic commerce communications

20B.— (1) The financial promotion restriction does not apply to an incoming electronic commerce communication.

(2) Paragraph (1) does not apply to—

(a) a communication which constitutes an advertisement by the operator of a UCITS Directive scheme of units in that scheme;

(b) a communication consisting of an invitation or inducement to enter into a contract of insurance, where—

(i) the communication is made by an undertaking which has received official authorisation in accordance with Article 6 of the first life insurance directive or the first non-life insurance directive, and

(ii) the insurance falls within the scope of any of the insurance directives; or

(c) an unsolicited communication made by electronic mail.

(3) In this article, “UCITS Directive scheme” means an undertaking for collective investment in transferable securities which is subject to Directive 85/611/EEC of the Council of the European Communities of 20 December 1985 on the co-ordination of laws, regulations and administrative provisions relating to undertakings for collective investment in transferable securities(1), and has been authorised in accordance with Article 4 of that Directive.

(4) For the purposes of this article, a communication by electronic mail is to be regarded as unsolicited, unless it is made in response to an express request from the recipient of the communication.”.

(1)

OJ L375/3, 31 December 1985.