Aadi.ji wrote:CR001 wrote:Aadi.ji wrote:I thought this forum is meant to help people. Whereas i am still left unanswered and without help.
Considering the forum is mainly for immigration and visa help, I fail to understand why you cannot do a search online for issues relating to your financial consulting business.
Have you looked at the Financial Services Authority or Financial Ombudsman Service or the Office of Fair Trading websites to find what you are looking for.
I am fairly certain that some of this detail about regulatory bodies will have been covered, even briefly, in your MSc degree content.
I have goggled it many times and found some with cost like 350 450 per year.
![Shocked :shock:](./images/smilies/icon_eek.gif)
. Until i got one told my babylondner.
ANy ways Thanks a lot.
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SOC 1131 Financial managers and directors
Example
participates in the formulation of strategic and long term business plans, assesses the implications for the organization financial mechanisms and oversees their implementation; plans external and internal audit programmes, arranges for the collection and analysis of accounting, budgetary and related information, and manages the company‟s financial systems; determines staffing levels appropriate for accounting activities;
assesses and advises on factors affecting business performance.
Relatedjob titles:
Investment banker
Treasury manager
Salary rates:
New entrant:
£25,600
/ Experienced:
£37,500
[Source: Annual Survey of Hours and Earnings 2011]
Now i am a bit confuse are the above services exempt from regulations or not. I have read on FCA that which services need regulations and i think the above ones are exempt from them. But TO be honest i am not 100% sure.
This is what i found on FCA website.
What are the regulated activities?
Specified activities are defined in Part II of the RAO and comprise:
accepting deposits
issuing e-money
effecting or carrying out contracts of insurance as principal
dealing in investments (as principal or agent)
arranging deals in investments
arranging home finance activities
operating a multilateral trading facility
managing investments
assisting in the administration and performance of a contract of insurance
safeguarding and administering investments
sending dematerialised instructions
establishing collective investment schemes
establishing stakeholder pension schemes
providing basic advice on stakeholder products
advising on investments
advising on home finance activities
Lloyd's market activities
entering funeral plan contracts
entering into a home finance activity
administering a home finance activity
agreeing to do most of the above activities
Specified investments are defined in Part III of the RAO and comprise:
deposits
electronic money
rights under a contract of insurance
shares
instruments creating or acknowledging indebtedness
sukuk (shariah compliant debt instruments)
government and public securities
instruments giving entitlement to investments
certificates representing certain securities
units in a collective investment scheme
rights under a stakeholder pension scheme
rights under personal pension scheme
options
futures
contracts for differences
Lloyd's syndicate capacity and syndicate membership
rights under funeral plan contracts
rights under regulated mortgage contracts
rights under a home reversion plan
rights under a home purchase plan
rights to or interests in anything that is a specified investment listed, excluding 'Rights under regulated mortgage contracts', 'Rights under regulated home reversion plans' and Rights under regulated home purchase plans'
For smaller firms, we have developed several standard permission profiles containing regulated activities and investment types. You can find these in the application packs. If none of these profiles match the business that you want to do, you will need to construct your own.
The activities and specified investment types we regulate are described in greater detail in chapter 2 of the Perimeter Guidance Manual (PERG).
‘Do I need to be authorised?’ Decision Tree
Business test
Under section 22 of the FSMA, for an activity to be a regulated activity, it must be carried on 'By way of business'.
FCA guidance on the business element can be found in PERG 2.3.
Exclusions
Exclusions are provisions that turn activities that would otherwise be regulated activities into unregulated activities. So if you can rely on an exclusion for an activity, you would not require FCA authorisation to carry it out.
Examples of exclusions include:
introducer exclusion
overseas persons exclusion
Who is exempt from authorisation?
A person who is an appointed representative is exempt from authorisation. Further information can be found in the factsheet ‘Becoming an appointed representative’. Other exemptions include:
a professional firm (i.e. a firm of solicitors, accountants or actuaries) carrying on certain regulated activities that are incidental to its main business
a local authority or certain kind of housing body carrying on insurance mediation or mortgage activities
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