AUTHORISED PERSON
authorised person: translation
A firm that is an authorised person under section 31 of the FSMA can be a person who has a Part IV permission to carry on one or more regulated activities as: an EEA firm qualifying for authorisation under Schedule 3 of the FSMA (EEA Passport Rights); a Treaty firm qualifying for authorisation under Schedule 4 of the FSMA (Treaty Rights); and a person who is otherwise authorised by a provision of, or made under, the FSMA. The activities that could be regulated activity under a Regulated Activities Order (RAO) are:
- Dealing in shares as principal or agent;
- Safeguarding and administering investments on behalf of clients;
- Managing discretionary investments;
- Entering into a regulated mortgage contract;
- Advising on, and/or arranging the acquisition or disposal of shares and life policies;
- Advising on, and/or arranging the assignment of life policies. (not defined in DrKW glossary