What are part 4A permissions?

(as defined in section 55A of the Act (Application for permission)) a permission given by the FCA or PRA under Part 4A of the Act (Permission to carry on regulated activities), or having effect as if so given.

How do I get Part 4A permissions?

Request of authorised person Firms can apply themselves to their regulator for a Variation of Permission (VoP) (FSMA 2000, s 55H). Any authorised firm that wants to change its Part 4A permission should submit a VoP application form on-line using the Connect) system.

What is a regulated activity under FSMA?

What is a regulated activity? An activity is a regulated activity if it is an activity of a specified kind that is carried on by way of business and relates to a specified investment or property of any kind (section 22, FSMA).

Who is an Authorised person under FSMA?

Section 31 of FSMA (as amended by the Act) defines an authorised person as: a person who has permission under Part 4A of FSMA to carry on one or more regulated activities. an EEA firm qualifying for authorisation under Schedule 3 to FSMA. a Treaty firm qualifying for authorisation under Schedule 4 to FSMA.

What does Part 4A mean in the FCA Act?

Part 4A permission. (as defined in section 55A of the Act (Application for permission )) a permission given by the FCA or PRA under Part 4A of the Act (Permission to carry on regulated activities), or having effect as if so given.

How to obtain Part 4A permission in the UK?

In order to obtain Part 4A permission, your firm will need to demonstrate that it meets and will continue to meet the threshold conditions for each of the regulated activities that it proposes to carry on in the UK. These threshold conditions are set out in Schedule 6 to FSMA and cover, for example, the:

Who is an exempt person under FSMA 2000?

· an exempt person (such as an Appointed representative or tied agent.) The relevant section of the legislation is Part 4A of FSMA 2000, so you will sometimes hear Compliance Consultants talk about ‘Part 4A permissions’.

What is the scope of Section 401 of FSMA?

Offences within the scope of section 401 (1) of FSMA are: Offences under FSMA. Offences under subordinate legislation made under FSMA. Offences under Part 7 of the FS Act 2012 (for more information, see Practice note, False or misleading statements and impressions: criminal offences and FCA powers )).