Article 22 and 29 exclusions meaning

Shorthand for the exemptions in Articles 22 and 29 of the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001 (RAO). In practice, they allow a person to avoid the regulated activities of dealing in investments as agent (Article 21 RAO) and arranging deals in investments (Article 25 RAO) where their role is limited to entering into or arranging a transaction strictly on the advice of an authorised (or exempt) person with the appropriate permission. Key features and use: - Legislative exclusions under the RAO, used to keep execution‑only brokers, platforms, custodians and introducers outside “dealing as agent” or “arranging” when they merely implement an authorised adviser’s recommendation. - Narrow in scope: they cannot be relied on if you advise on the merits, influence the client beyond the authorised person’s advice, or exercise discretion. - They do not switch off other regulatory requirements (for example, financial promotions, client assets, or conduct rules), and apply only to the extent of the specified activity. Jurisdiction: - FSMA/RAO applies across England & Wales, Scotland and Northern Ireland on a consistent basis. - There is no direct equivalent in Ireland; Irish firms should consider Central Bank of Ireland authorisation requirements under MiFID and domestic legislation.