The Financial Services and Markets Act 2000 (Financial Promotion) Order 2005

Associations of high net worth or sophisticated investorsU.K.

51.—[F1(1)] The financial promotion restriction does not apply to any non-real time communication or solicited real time communication which—

(a)is made to an association, or to a member of an association, the membership of which the person making the communication believes on reasonable grounds comprises wholly or predominantly persons who are—

(i)F2... high net worth individuals within the meaning of article 48;

(ii)high net worth persons falling within article 49(2)(a) to (d);

(iii)certified or self-certified sophisticated investors within the meaning of article 50 or 50A; and

(b)relates only to an investment under the terms of which a person cannot incur a liability or obligation to pay or contribute more than he commits by way of investment.

[F3(2) The exemption in paragraph (1) does not apply if the communication relates to a qualifying cryptoasset.]

Textual Amendments

F1Art. 51 renumbered as art. 51(1) (8.6.2023 for specified purposes, 7.10.2023 in so far as not already in force) by The Financial Services and Markets Act 2000 (Financial Promotion) (Amendment) Order 2023 (S.I. 2023/612), arts. 1(2), 5(a) (with art. 11)

F3Art. 51(2) inserted (8.6.2023 for specified purposes, 7.10.2023 in so far as not already in force) by The Financial Services and Markets Act 2000 (Financial Promotion) (Amendment) Order 2023 (S.I. 2023/612), arts. 1(2), 5(b) (with art. 11)