Part II Regulated And Prohibited Activities

Regulated activities

22F1Regulated activities

(1)

An activity is a regulated activity for the purposes of this Act if it is an activity of a specified kind which is carried on by way of business and—

(a)

relates to an investment of a specified kind; or

(b)

in the case of an activity of a kind which is also specified for the purposes of this paragraph, is carried on in relation to property of any kind.

F2(1A)

An activity is also a regulated activity for the purposes of this Act if it is an activity of a specified kind which is carried on by way of business and relates to—

(a)

information about a person's financial standing, F3... F4or

F5(b)

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F6(c)

administering a benchmark.

F7(1B)

An activity is also a regulated activity for the purposes of this Act if it is an activity of a specified kind which—

(a)

is carried on by way of business in Great Britain, and

(b)

is, or relates to, claims management services.

(2)

Schedule 2 makes provision supplementing this section.

(3)

Nothing in Schedule 2 limits the powers conferred by F8subsection (1) F9or (1A) F8subsections (1) to (1B) .

(4)

“Investment” includes any asset, right or interest F10(including where an asset, right or interest is, or comprises or represents, a cryptoasset).

(5)

“Specified” means specified in an order made by the Treasury.

F11(6)

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F12(6A)

For the purposes of subsection (1A)(c), “benchmark” has the meaning given by Article 3 of the EU Benchmarks Regulation 2016, and “administering” a benchmark means acting as an administrator of that benchmark within the meaning of that Article.