Jurisdiction(s):
United Kingdom

Related legal acts

Key definition

FSMA 2000 definition

What does FSMA 2000 mean? FSMA 2000 refers, in legal practice, to the UK’s core statutory framework for financial services regulation: the financial services and markets act 2000, as amended (including by the Financial Services Act 2012 and the Financial Services and Markets Act 2023). Practitioners use “FSMA 2000” to denote the regime setting the regulatory perimeter and the powers of the Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA). Key features include: - Regulated activities defined via the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001 (RAO). - Authorisation and permissions (Part 4A) and threshold conditions. - The financial promotion restriction (section 21). -...

Assisting in the administration and performance of insurance contracts: UK regulatory perimeter, RAO Article 39A scope, exclusions and IDD/Brexit changes

Published by a LexisNexis Financial Services expert

Practice notes

Background to the regulation of assisting in the administration and performance of insurance contracts

Under section 19 of the Financial Services and Markets Act 2000 (FSMA 2000), individuals and firms are prohibited from undertaking regulated activities in the UK unless they are authorised or otherwise exempt; this is referred to as the General prohibition. For details on the general prohibition and how it applies territorially, see the Practice Notes: The general prohibition and implications of its breach and Territorial scope of the general prohibition. ‘Regulated activities’ are described as including specified activities carried on by way of business that concern ‘specified Investments’, or any property to which the specified activity applies. For these purposes, ‘specified’ means designated by HM Treasury. The Financial Services and Markets Act 2000 (Regulated Activities) Order 2001 (SI 2001/544) (RAO) lists the activities and investments that are so specified. For further guidance on what amounts to regulated activities, see Practice Note: What are regulated activities? For additional guidance on the meaning of ‘by way of business’ in the insurance context, see Practice Note: What does ‘by way of business’ mean?—Insurance distribution activity. Further detail on the territorial scope is provided there. Those sources explain key implications...

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Web page updated on 21/05/2026

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