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Financial Services Authority (FSA) Authorization


All the regulated activities must have an authorization given by the Financial Services Authority. Only some exceptions such as selected representatives do not need that approval. If this rule is not respected, it has as penalty: two years incarceration and/or a fine.

Some of the regulated activities are: accepting deposits, subjecting e-money, introducing or carrying out contracts of assurance as principal, commerce in investment, arranging agreements in savings, arranging regulated credit contracts, managing reserves, keeping and managing investments, distribution of dematerialized instructions, creating collective etc investment schemes, establishing etc stakeholder retirement fund systems, advising on savings, recommending on regulated credit contracts, Lloyd’s market activities, entering memorial service plans, entering interested in and administering a regulated credit agreement and agreeing to do most of the above activities. Also, some of the investments that are regulated are: deposits, electronic cash, rights under an agreement of assurance, shares, instruments creating or admitting indebtedness, government and public securities, instruments giving prerogative to reserves, certificates on behalf of certain securities, units in a cooperative asset scheme, rights under a stakeholder retirement fund scheme, options, futures, contracts for differences, Lloyd’s syndicate ability and syndicate association, rights under memorial service plan contracts, rights under regulated mortgage agreements and rights to or interests in anything that is a specified asset list.

The Financial Services Authority Authorization is given to those who apply for an application for a part IV Permission. The FSA evaluates the application in opposition to the Threshold Conditions and informs the firm about the decision. Some of the application packs are: the General Insurance Firm Intermediary Application Pack, the Small Firms Application Pack, the Simple Change of Entity Application Pack, the Future Small Firm Application Pack, the standard Application Pack, the Credit Union Application Pack, the Sole Trader Application pack and Securities.


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