The Financial Services and Markets Act 2000 (Regulated Activities) Order 2001

[F1 Duty to maintain a record of unauthorised persons carrying on insurance [F2 distribution] activities U.K.

93.— (1) Subject to articles 95 and 96, [F3 the FCA] must include in the record every person who—

(a) as a result of information obtained by virtue of its rules or by virtue of a direction given, or requirement imposed, under [F4 section 55U(4)] of the Act (procedure for applications under Part IV), appears to [F3 the FCA] to fall within paragraph (2); or

(b) as a result of information obtained by virtue of article 94, appears to [F3 the FCA] to fall within paragraph (3).

(2) A person falls within this paragraph if he is, or has entered into a contract by virtue of which he will be, an appointed representative who carries on any insurance [F2 distribution] activity.

(3) A person falls within this paragraph if—

(a) he is a relevant member of a designated professional body who carries on, or is proposing to carry on, any insurance [F2 distribution] activity; and

(b) the general prohibition does not (or will not) apply to the carrying on of those activities by virtue of section 327 of the Act (exemption from the general prohibition).

[F5 (3A) An application for inclusion in the record made by a person who falls within paragraph (2) or (3) must be determined by the FCA before the end of the period of 3 months beginning with the date on which it received the completed application.

(3B) A notification by a designated professional body in accordance with article 94 is to be treated as an application for inclusion in the record for the purposes of paragraph (3A).]

(4) In this Part, “recorded insurance intermediary” means a person who is included in the record by virtue of paragraph (1).

(5) The record must include—

(a) in the case of any recorded insurance intermediary, its address; and

(b) in the case of a recorded insurance intermediary which is not an individual, the name of the individuals who are responsible for the management of the business carried on by the intermediary, so far as it relates to insurance [F2 distribution] activities.]

Textual Amendments

F1 Pt. 5 inserted (31.10.2004 for specified purposes, 14.1.2005 in so far as not already in force) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) (No. 2) Order 2003 (S.I. 2003/1476), arts. 1(3), 13

F2 Word in art. 93 substituted (1.10.2018) by The Insurance Distribution (Regulated Activities and Miscellaneous Amendments) Order 2018 (S.I. 2018/546), arts. 1(2), 7(4)(a)

F3 Words in art. 93(1) substituted (1.4.2013) by The Financial Services Act 2012 (Consequential Amendments and Transitional Provisions) Order 2013 (S.I. 2013/472), art. 1(1), Sch. 2 para. 35(a)

F4 Words in art. 93(1)(a) substituted (1.4.2013) by The Financial Services Act 2012 (Consequential Amendments and Transitional Provisions) Order 2013 (S.I. 2013/472), art. 1(1), Sch. 2 para. 35(h)

F5 Art. 93(3A)(3B) inserted (1.10.2018) by The Insurance Distribution (Regulated Activities and Miscellaneous Amendments) Order 2018 (S.I. 2018/546), arts. 1(2), 7(4)(b)