What are the FCA regulated activities?

Consumer credit activities

• Entering into a regulated credit agreement as lender.
• Exercising, or having the right to exercise, the lender’s rights and duties under a regulated credit agreement.
• Credit broking.
• Debt adjusting.
• Debt counselling.
• Debt collecting.
• Debt administration.

What are regulated activities?

Regulated Activity is a term used to describe certain job functions carried out by an employee as defined by the Disclosure and Barring Service (DBS). These requirements are important as they determine eligibility for an Enhanced Level DBS check and a check of the DBS Barred Lists.

What are the three stages of proactive firm supervision by the FCA?

The scope of the supervision model for firms

• (1) proactive – pre-emptive identification of harm through review and assessment of firms and portfolios: this includes business model analysis and reviewing the drivers of culture;
• (2)
• (3)

Is arranging loans a regulated activity?

Arranging deals in investments is a regulated activity under article 25 of the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001 (SI 2001/544) (RAO).

Who must be regulated by the FCA?

According to provisions made under the Financial Services and Markets Act (FSMA) 2000, financial activities have to be regulated by the FCA. Any firm (whether a business, a not-for-profit or a sole trader) carrying out a regulated activity must be authorised or registered by us, unless they are exempt.

Do I need FCA regulation?

Being authorised by the FCA (or registered with) is a mandatory requirement for any business that intends to carry out activities specified by the Regulated Activities Order 2001 or the Payment Services Regulations 2017. If your business fits one of these profiles, you must register.

Is cleaning a regulated activity?

As cleaning is not defined as a regulated activity there is no blanket way to define DBS Checks for cleaners – it is important to check whether a cleaner requires a DBS Check for each individual location they’re working in.

Is giving medication a regulated activity?

One key area of potential non-compliance is the administration and storage of medication. Regulations 2010 only includes physical assistance (and supervision) with: Medication is covered by other regulated activities: “treatment for a disease, disorder or injury” and “diagnostic and screening procedures” (“TDDI”).

How do I get FCA Authorised?

FCA Authorisation Application in 5 Steps

1. Step 1 – establish permission. If the business of the firm involves a regulated activity, then the likelihood is the firm will need to be authorised.
2. Step 2 – strategy and audit.
3. Step 3 – Gather documentation.
4. Step 4 – Work through application.
5. Step 5 – declare and submit.

What are the 2 types of FCA Authorisation for firms?

We have two categories of authorisation for consumer credit firms: ‘limited permission’ and ‘full permission’. Whether you need to apply for limited or full permission depends on the regulated activities your firm will carry on.

What is an example of a regulated activity?

Regulated work activities Teaching, instructing, supervising, training, and coaching children. Delivering care, including physically helping children if they need assistance) due to an illness or disability). For example, with eating, drinking, toileting, washing, bathing, or dressing.

What are financial regulated activities?

An activity is a regulated activity if it is an activity of a specified kind that is carried on by way of business and relates to a specified investment or property of any kind (section 22, FSMA).

What are the regulated activities of the FCA?

Entering into a regulated credit agreement as lender. Exercising, or having the right to exercise, the lender’s rights and duties under a regulated credit agreement. Credit broking. Debt adjusting. Debt counselling. Debt collecting. Debt administration. Advising on regulated credit agreements for the acquisition of land.

What is the Regulated Activities Order 2001 ( Rao )?

Regulated Activities Order. 2001 (RAO) EG 19.6.1 01/10/2018 RP. 1. The RAO sets out those activities which are regulated for the purposes of the Act. Part V of the RAO also requires the FCA to maintain a register of all those people who are not authorised by the FCA but who carry on insurance distribution. 2.

What is Article 27 of the Regulated Activities Order?

Article 27 of the Regulated Activities Order (Enabling parties to communicate) contains an exclusion that applies to arrangements which might otherwise bring within article 25 (2) those who merely provide the means by which one party to a transaction (or potential transaction) is able to communicate with other parties.

How is the Handbook affected by the FCA?

To see a full list of Handbook modules affected, please see Annex B to the main FCA transitional directions. As with advice, there are various exclusions in the Regulated Activities Order which take certain arrangements out of the scope of article 25.