Jurisdiction(s):
United Kingdom

Related legal acts

Key definition

General prohibition definition

What does General prohibition mean? In financial services practice, the general prohibition is the baseline rule that a person must not carry on a regulated activity in the UK (and, in some cases, into the UK) by way of business unless they are authorised or an exempt person. It is a statutory concept in Section 19 of the financial services and markets act 2000 (FSMA). Key features: - Regulated activity is defined by FSMA and specified in the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001. - Authorised persons hold Part 4A permission from the FCA and/or PRA. - Exempt persons include, among others, appointed...

UK Regulated Activities under FSMA 2000: RAO‑specified activities and investments, FCA/PRA authorisation, exclusions, and the Designated Activities Regime

Published by a LexisNexis Financial Services expert

Practice notes

Scope of this Practice Note

This Practice Note sets out what counts as regulated activities within the UK regulatory framework. In particular, it focuses on the specified activities and specified investments listed in the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001, SI 2001/544 (RAO). An authorised person may only undertake regulated activities for which they hold explicit permission from either the Financial Conduct Authority (FCA) or the Prudential Regulation Authority (PRA) (as relevant to the activities conducted) under each regulator’s respective authorisation process. This Practice Note also addresses the Designated activities regime introduced by the Financial Services and Markets Act 2023 (FSMA 2023).

The General prohibition and the authorisation regime

Under the general prohibition and the authorisation regime, a person must not carry on, or claim to carry on, a regulated Activity in the UK unless they are either:

an authorised person, or
an exempt person

An authorised person may only perform those regulated activities for which they have been granted specific permission by either the FCA or the PRA (depending on the activities in question) through the applicable regulator’s authorisation process...

To view the latest version of this document and thousands of others like it, sign-in with LexisNexis or register for a free trial.

Web page updated on 21/05/2026

Popular documents

Using the Judicial College Guidelines to assess general damages in personal injury claims

When evaluating a general damages claim, the practitioner ought initially to refer to the Judicial College Guidelines (JCG)...

Tomlin orders in England and Wales: CPR guidance on drafting, confidentiality, approval, variation, enforcement, limitation, CCA issues, court-specific requirements, sample wording and precedents

This Practice Note This Practice Note reviews mechanisms used in settling litigation. A Tomlin order consists of a consent order paired with a schedule. It operates to stay proceedings on terms that have been agreed. The provisions contained in the schedule may remain confidential. This Practice Note describes the scope of confidentiality attaching to the schedule and sets out how it differs from a standard consent order. Sample wording for a Tomlin order is included, alongside links to precedents, as well as guidance on court approval. It also addresses varying, setting aside and enforcing a Tomlin order, including the considerations the court will take into account when handling applications for each. Further guidance is provided on interpreting and applying the relevant provisions of the CPR; however, some courts and divisions impose very specific requirements for both drafting and approval, and for approaching the schedule and confidentiality issues. Accordingly, you must consider the particular rules and court guide provisions in the forum where your claim is proceeding when drawing up the Tomlin order...

Precedent: Deed of Surrender of Lease with Optional Premium, Settlement and Release, Landlord, Mortgagee and Guarantor Consents, Reimbursement and HM Land Registry Provisions (England and Wales)

Date [ date ] Parties [ name of Landlord ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Landlord) [ name of Tenant ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Tenant) [ [ name of Guarantor ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Guarantor) ] [ [ name of Mortgagee ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Mortgagee) ] Definitions Within this Deed, the terms below shall be interpreted as follows: [ Annual Rent • the annual sum reserved under the Lease; ] [ Insurance Rent • the Tenant’s share of the Landlord’s costs of insuring the Property (as set out in the Lease); ] Lease • the lease of the Property dated [ date ], entered into between (1) [ the Landlord OR [ name ...

Precedent Statutory Declaration: Standard Wording under the Statutory Declarations Act 1835

I, [ name ], of [ address ], solemnly and sincerely state that: [ Matters to be verified, set out in numbered paragraphs ] I make this solemn statement in good conscience, believing it to be true, and pursuant to the provisions of the Statutory Declarations Act 1835. DECLARED at [ details ] this [ day ] day of [ month and year ] Before me ................................................................................ [ signature of the person before whom the declaration is made ] A [ commissioner for oaths OR [ solicitor OR [ insert other qualification ] ] authorised to administer oaths ]...