Status: You are viewing the version of the handbook as on 2009-03-31.

designated investment business

    any of the following activities, specified in Part II of the Regulated Activities Order (Specified Activities), which is carried on by way of business:

      1. (a) dealing in investments as principal (article 14), but disregarding the exclusion in article 15 (Absence of holding out etc);
      1. (b) dealing in investments as agent (article 21) but only in relation to designated investments;14
      1. (c) arranging (bringing about) deals in investments (article 25(1)), but only in relation to designated investments;
      1. (d) making arrangements with a view to transactions in investments (article 25(2)), but only in relation to designated investments;
      1. (da) operating a multilateral trading facility (article 25D);39
      1. (e) managing investments (article 37), but only if the assets consist of or include (or may consist of or include) designated investments;
      1. (ea) assisting in the administration and performance of a contract of insurance, but only if the contract of insurance is a designated investment.18
      1. (f) safeguarding and administering investments (article 40), but only if the assets consist of or include (or may consist of or include) designated investments; for the purposes of the permission regime, this is sub-divided into:
        1. (i) safeguarding and administration of assets (without arranging);
        1. (ii) arranging safeguarding and administration of assets;
      1. (g) sending dematerialised instructions (article 45(1));
      1. (h) causing dematerialised instructions to be sent (article 45(2));
      1. (i) establishing, operating or winding up a collective investment scheme (article 51(1)(a)); for the purposes of the permission regime, this is sub-divided into:
        1. (i) establishing, operating or winding up a regulated collective investment scheme;
        1. (ii) establishing, operating or winding up an unregulated collective investment scheme;
      1. (j) acting as trustee of an authorised unit trust scheme (article 51(1)(b));
      1. (k) acting as the depositary or sole director of an open-ended investment company (article 51(1)(c));
      1. (l) establishing, operating or winding up a stakeholder pension scheme (article 52(a)31);
      1. (la) establishing, operating or winding up a personal pension scheme (article 52(b));31
      1. (m) advising on investments (article 53), but only in relation to designated investments; for the purposes of the permission regime, this is sub-divided into:
        1. (i) advising on investments (except pension transfers and pension opt-outs);
        1. (ii) advising on pension transfers and pension opt-outs;
      1. (n) agreeing to carry on a regulated activity in (a) to (h) and (m) (article 64). 3241418
      1. (o)43providing basic advice on a stakeholder product 43 (article 52B). 22