Article 66 exclusion meaning

Background to exclusions which apply to several kinds of activity Section 19 of the Financial Services and Markets Act 2000 (FSMA 2000) imposes the ‘general prohibition’: no person may perform regulated activities in the UK unless authorised or exempt. For guidance on the prohibition and its territorial reach, see Practice Notes: The general prohibition and implications of its breach and Territorial scope of the general prohibition. ‘Regulated activities’ comprise specified activities undertaken by way of business that relate to ‘specified investments’ or any property to which the specified activity pertains. Here, ‘specified’ means designated by HM Treasury. The Financial Services and Markets Act 2000 (Regulated Activities) Order 2001, SI 2001/544 (RAO) sets out the activities and investments that are so specified. For further detail on what amounts to regulated activities, see Practice Note: What are regulated activities? For an explanation of the meaning of ‘by way of business’ in the insurance context, see Practice Note: What does ‘by way of business’ mean?...

The general prohibition Pursuant to section 19 of the Financial Services and Markets Act 2000 (FSMA 2000) (the general prohibition), no person may conduct a regulated activity unless authorised by the relevant regulator or otherwise exempt. Under FSMA 2000, s 23, a breach of FSMA 2000, s 19 may amount to a criminal offence. The Financial Services and Markets Act 2000 (Regulated Activities) Order 2001 (RAO), SI 2001/544, art 66 (Chapter XVII) sets out exclusions that apply to specified categories of regulated activity. These operate to remove certain activities from the scope of Regulated Activities for the purposes of FSMA 2000, s 19. For an outline of the various general exclusions in place, see RAO, SI 2001/544. RAO, SI 2001/544, art 72B, as amended, provides a general exclusion from the perimeter of regulated activities for ‘[a]ctivities carried on by a provider of relevant goods or services’ in relation to ‘connected contract[s] of insurance’. Article 72B is often called the Connected Contracts Exclusion. Note: RAO, SI 2001/544, art 72B transposed...

ARCHIVED This Practice Note outlines the application of Brussels I. It details transitional arrangements, international requirements, and the scope of civil and commercial matters. It also describes what the Regulation excludes and how to approach state immunity. Note: from 10 January 2015, Regulation (EC) 44/2001 (Brussels I) was repealed in its entirety and replaced by Brussels I (recast). Transitional provisions nevertheless apply. For guidance on those measures, and to determine whether Brussels I provisions still govern the matter you are handling, see Practice Note: E&W Brussels I (recast)—application and exclusions. In this Practice Note, Council Regulation (EC) 44/2001 on jurisdiction and the recognition and enforcement of judgments in civil and commercial matters is termed Brussels I. It is also called the Judgments Regulation. Transitional arrangements For enforcement matters, Article 66 of Regulation (EC) 44/2001, Brussels I, concerning transitional arrangements, should be read to require that, for the Regulation to take effect, it must be in force both in the Member State whose court issued the judgment and...