This guide will help firms identify whether a DPB (Investment Business) licence or FCA authorisation is needed to undertake a particular investment activity or whether this can be done without any authorisation under the Financial Services and Markets Act 2000 (the Act). This guide was reissued in November 2021.
The content of this guide is colour-coded to help distinguish between the different types of investment services your firm can offer. It will depend on your firm’s regulatory status under the Act.
Green = Not regulated. Can be offered without a DPB (Investment Business) licence or FCA authorisation
Amber = Allowed with a DPB (Investment Business) licence.
Red = Financial Conduct Authority (FCA) authorisation is required. This work cannot be carried out without FCA authorisation.
Investment Business is a complex area, and this guide is not exhaustive. Regulated Investment Business activities are specified in the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001. You should refer to this if you remain in any doubt as to whether a service is regulated and obtain legal advice where necessary.