Status: You are viewing the version of the handbook as on 2019-12-18.

sole trader Directory person

      1. 178(1) An individual who:
        1. (a) is a sole trader who is an SMCR firm;
        1. (b) performs the function specified in paragraph (2); and
        1. (c) requires a qualification under TC App 1.1 (Activities and Products/Sectors to which TC applies subject to Appendices 2 and 3) to do so.
      1. (2) The function is one that will involve the person dealing with:
        1. (a) customers of the firm (A); or
        1. (b) property of customers of A,
        in relation to the carrying on of a regulated activity by A from an establishment maintained by it in the United Kingdom.
      1. For these purposes, “dealing with” includes having contact with customers and extends beyond “dealing” as used in the phrase “dealing in investments” which is used in Schedule 2 of the Regulated Activities Order (see also SUP 10A.10.6G).