- Latest available (Revised)
- Original (As made)
The Financial Services (Distance Marketing) Regulations 2004, Section 4 is up to date with all changes known to be in force on or before 28 August 2024. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
Revised legislation carried on this site may not be fully up to date. Changes and effects are recorded by our editorial team in lists which can be found in the ‘Changes to Legislation’ area. Where those effects have yet to be applied to the text of the legislation by the editorial team they are also listed alongside the legislation in the affected provisions. Use the ‘more’ link to open the changes and effects relevant to the provision you are viewing.
4.—[F1(1) Regulations 7 to 11 do not apply in relation to any contract made between an EEA supplier contracting from an establishment in an EEA State and a consumer in the United Kingdom unless the EEA supplier is—
(a)a payments supplier,
(b)a relevant EEA AIFM, or
(c)the operator, trustee or depositary of a relevant recognised scheme.
(1A) Regulations 12 and 13 do not apply in relation to any contract made between an EEA supplier contracting from an establishment in an EEA State and a consumer in the United Kingdom unless the EEA supplier is—
(a)an authorised person, or
(b)a payments supplier.
(1B) Regulation 15 does not apply in relation to any supply of financial services by an EEA supplier from an establishment in an EEA State to a consumer in the United Kingdom unless the EEA supplier is—
(a)a payments supplier,
(b)a relevant EEA AIFM, or
(c)the operator, trustee or depositary of a relevant recognised scheme
(1C) For the purposes of paragraphs (1) to (1B)—
“payments supplier” means an EEA supplier to whom paragraph 2 or 14 of Schedule 3 to the Electronic Money, Payment Services and Payment Systems (Amendment and Transitional Provisions) (EU Exit) Regulations 2018 applies;
“relevant EEA AIFM” means an EEA AIFM (within the meaning given in regulation 78A(1)(b) of the Alternative Investment Fund Managers Regulations 2013) to whom regulation 78B of those Regulations applies.]
(2) Subject to paragraph (5) and regulation 6(3) and (4)—
(a)regulations 7 to 11 do not apply in relation to any contract made by a supplier who is an authorised person, the making or performance of which constitutes or is part of a regulated activity carried on by him;
(b)regulation 15 does not apply to any supply of financial services by a supplier who is an authorised person, where that supply constitutes or is part of a regulated activity carried on by him.
(3) Subject to regulation 6(3) and (4)—
(a)regulations 7 and 8 do not apply in relation to any contract made by a supplier who is an appointed representative, the making or performance of which constitutes or is part of a regulated activity (other than an exempt regulated activity) carried on by him;
(b)regulation 15 does not apply to any supply of financial services by a supplier who is an appointed representative, where that supply constitutes or is part of a regulated activity (other than an exempt regulated activity) carried on by him.
(4) Subject to regulation 6(3) and (4)—
(a)regulations 7 and 8 do not apply in relation to any contract where—
(i)the supplier is bound, or is controlled or managed by one or more persons who are bound, by rules of a designated professional body which are equivalent to those regulations, and
(ii)the making or performance of that contract constitutes or is part of an exempt regulated activity carried on by the supplier;
(b)regulation 15 does not apply to any supply of financial services where—
(i)the supplier is bound, or is controlled or managed by one or more persons who are bound, by rules of a designated professional body which are equivalent to that regulation, and
(ii)that supply constitutes or is part of an exempt regulated activity carried on by the supplier.
(5) Paragraph (2) does not apply in relation to any contract or supply of financial services made by a supplier who is the operator, trustee or depositary of a scheme which is a [F2relevant recognised scheme], where the making or performance of the contract or the supply of the financial services constitutes or is part of a regulated activity for which he has permission in that capacity [F3, by virtue of regulation 72(2) of the Collective Investment Schemes (Amendment etc.) (EU Exit) Regulation 2019 (“the 2019 Regulations”) (temporary authorisation of operator, trustee or depositary of recognised scheme)].
[F4(6) In [F5paragraphs (1), (1B) and (5)]—
“operator”, “trustee” and “depositary” have the same meanings as in Part 17 of the 2000 Act (see section 237 of that Act);
“relevant recognised scheme” means a stand-alone scheme or sub-fund (within the meaning of Part 6 of the 2019 Regulations) that is a recognised scheme by virtue of regulation 62 of the 2019 Regulations (temporary recognition for EEA UCITS or sub-fund of EEA UCITS).]
Textual Amendments
F1Reg. 4(1)-(1C) substituted for reg. 4(1) (31.12.2020) by The Financial Services (Distance Marketing) (Amendment and Savings Provisions) (EU Exit) Regulations 2019 (S.I. 2019/574), regs. 1(3), 6(a) (with reg. 11) (as amended by S.I. 2020/1301, regs. 1, 3, Sch. para. 31); 2020 c. 1, Sch. 5 para. 1(1)
F2Words in reg. 4(5) substituted (31.12.2020) by The Collective Investment Schemes (Amendment etc.) (EU Exit) Regulations 2019 (S.I. 2019/325), regs. 1(2), 56(a)(i) (with savings in S.I. 2019/680, reg. 11); 2020 c. 1, Sch. 5 para. 1(1)
F3Words in reg. 4(5) inserted (31.12.2020) by The Collective Investment Schemes (Amendment etc.) (EU Exit) Regulations 2019 (S.I. 2019/325), regs. 1(2), 56(a)(ii) (with savings in S.I. 2019/680, reg. 11); 2020 c. 1, Sch. 5 para. 1(1)
F4Reg. 4(6) substituted (31.12.2020) by The Collective Investment Schemes (Amendment etc.) (EU Exit) Regulations 2019 (S.I. 2019/325), regs. 1(2), 56(b) (with savings in S.I. 2019/680, reg. 11); 2020 c. 1, Sch. 5 para. 1(1)
F5Words in reg. 4(6) substituted (31.12.2020) by The Financial Services (Distance Marketing) (Amendment and Savings Provisions) (EU Exit) Regulations 2019 (S.I. 2019/574), regs. 1(3), 6(b); 2020 c. 1, Sch. 5 para. 1(1)
Latest Available (revised):The latest available updated version of the legislation incorporating changes made by subsequent legislation and applied by our editorial team. Changes we have not yet applied to the text, can be found in the ‘Changes to Legislation’ area.
Original (As Enacted or Made): The original version of the legislation as it stood when it was enacted or made. No changes have been applied to the text.
Geographical Extent: Indicates the geographical area that this provision applies to. For further information see ‘Frequently Asked Questions’.
Show Timeline of Changes: See how this legislation has or could change over time. Turning this feature on will show extra navigation options to go to these specific points in time. Return to the latest available version by using the controls above in the What Version box.
Explanatory Memorandum sets out a brief statement of the purpose of a Statutory Instrument and provides information about its policy objective and policy implications. They aim to make the Statutory Instrument accessible to readers who are not legally qualified and accompany any Statutory Instrument or Draft Statutory Instrument laid before Parliament from June 2004 onwards.
Access essential accompanying documents and information for this legislation item from this tab. Dependent on the legislation item being viewed this may include:
This timeline shows the different points in time where a change occurred. The dates will coincide with the earliest date on which the change (e.g an insertion, a repeal or a substitution) that was applied came into force. The first date in the timeline will usually be the earliest date when the provision came into force. In some cases the first date is 01/02/1991 (or for Northern Ireland legislation 01/01/2006). This date is our basedate. No versions before this date are available. For further information see the Editorial Practice Guide and Glossary under Help.
Use this menu to access essential accompanying documents and information for this legislation item. Dependent on the legislation item being viewed this may include:
Click 'View More' or select 'More Resources' tab for additional information including: