If you are going to enter into financial dealings/arrangements with a third party – always take experienced and expert legal advice upon the arrangements, since we fear (without careful thought and structuring) – it is all too easy to fall foul of the “general prohibition” under the Financial Services and Markets Act 2000 (s.19), against undertaking Financial Conduct Authority (FCA) “regulated activities” (without being authorised).
A wide range of financial activities (when carried on for potential commercial gain) are relatively heavily regulated by the U.K. Govt. (and its quangos) – since there is an understandable desire to “protect widows and orphans” from being potentially exploited by those who are not subject to regulatory supervision and control.
If you don’t take skilled advice as to what you are proposing to do – This may well have a number of seriously adverse consequences for you = including the commission of criminal offences by you, and (in arguably “worse”) = non-enforceability of any legal agreements you might enter into.
https://www.handbook.fca.org.uk/handbook/glossary/G974.html – A shortlist of “regulated activities”
https://www.bailii.org/ew/cases/EWHC/Ch/2021/995.html – A recent “s.19 case” – showing the perils of “getting it wrong”.
Please feel free to discuss with us – if you have any concerns!
Founding Principal – and – Business Law Solicitor
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