Cummings Pepperdine on FCA regulated activities and investments

What does the FCA regulate?
The FCA is the main regulatory body in the United Kingdom for investment managers, advisors, dealer and the like.

It regulates those, both people and corporate bodies, who carry on certain activities, known as regulated activities, in relation to certain type of investments, known as regulated investments.

The boundary defining which activities the FCA regulated and those it does not is commonly referred to as the perimeter. This FCA perimeter is set out in law, with the relevant legislation being The Financial Services and Markets Act 2000 (Regulated Activities) Order 2001 (the “RAO”).
It is here that you will find detail on regulated activities and regulated investments.

The RAO is related to the main piece of legislation which governs financial services in the United Kingdom, the Financial Services and Markets Act (“FSMA”).