Certified publications
Advising on investments is a regulated activity under article 53 of the Regulated Activities Order. Under article 54, advice is excluded from the regulated activity of advising on investments if (1) the advice is given in a publication or service that is in one of three formats and (2) the principal purpose of the particular format is neither to give advice nor to lead to, or enable, certain transactions to be carried out.
Article 54 provides that if a person is advising on investments, the FSA may, on the application of the person concerned, certify that the exclusion applies. However, a certificate is not needed to get the benefit of the exclusion. It will frequently be clear that the exclusion in article 54 applies and a certificate is not called for. A certificate may be appropriate, however, where the exclusion appears to apply but there may be an element of doubt. The granting of a certificate removes any such doubt.
| List of Publications |
|---|
| Money Observer |