Jurisdiction(s):
United Kingdom

Related legal acts

Key definition

Activity definition

What does Activity mean? In radiation and environmental practice, activity has two related uses. 1) Scientific measure: the rate at which a radionuclide decays per unit time. It is defined in radiation protection legislation and standards, with the SI unit Becquerel (Bq). The Curie (Ci) may appear in legacy or supplier documentation. Activity (and activity concentration) determines whether exemption, clearance and authorisation thresholds are met, and underpins discharge limits and inventory caps across the UK and Ireland. 2) Regulated practice: a practice or operation involving radioactive material or radiation generators that may require prior regulatory authorisation. Depending on jurisdiction and risk, this may take the form...

UK unauthorised financial services business: FSMA 2000 general prohibition, FCA/PRA enforcement, sanctions, remedies and perimeter guidance (PERG/RAO)

Published by a LexisNexis Financial Services expert

Practice notes

The General prohibition

At the centre of the UK regulatory framework sits a fundamental restriction: no person may carry on a regulated Activity in the UK, or hold themselves out as doing so, unless they are either:

authorised by the appropriate regulator, or
exempt

This is the general prohibition, set out in the Financial Services and Markets Act 2000 (FSMA 2000), s 19. The inclusion of the phrase ‘or purport to do so’ means a breach can arise even where no regulated activity is actually performed, if someone represents that they do or seeks to undertake it.

Further information on the general prohibition, exemptions and the regulators can be found in:

The general prohibition—overview
The general prohibition and implications of its breach
FCA—corporate governance
UK regulators—financial services—overview
What are regulated activities?
Regulated activities—specified activities and investments—overview
FCA and PRA authorisation under Part 4A of FSMA 2000

Businesses, firms and individuals new to the financial services market, or moving into new lines of activity, must understand these limits and the consequences of failing to comply with financial services rules and requirements, including FSMA 2000, s 19...

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Web page updated on 21/05/2026

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