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Financial Services and Markets Act 2000 (Excluded Activities and Prohibitions) Order 2014 [SI 2014 No. 2080]Introductory TextPart 1 General (arts. 1-3)Article 1 Citation, commencement and interpretationArticle 2 Relevant financial institutionArticle 3 Securitisation companies and structured finance vehicles: definitionsPart 2 Excluded activities and exceptions (arts. 4-12)Article 4 Excluded activities: dealing in investments as principalArticle 5 Excluded activities: commodities tradingArticle 6 Excluded activities: general exceptionsArticle 7 Excluded activities: securitisation and covered bondsDraft Article 7A Excluded activities: SME exceptionArticle 8 Excluded activities: central bank exemptionArticle 9 Excluded activities: derivativesArticle 10 Derivatives: forward contracts and swapsArticle 11 Derivatives: options and swaptionsArticle 12 Derivatives: general conditionsPart 3 Prohibitions and exceptions (arts. 13-21)Article 13 Prohibitions: inter-bank payment systemsArticle 14 Prohibitions: financial institution exposuresArticle 15 Financial institutions exposures: trade financeArticle 16 Financial institutions exposure: securitisation and covered bondsArticle 17 Financial institution exposures: conduit lendingArticle 18 Financial institution exposures: repo transactionsArticle 19 Financial institution exposures: ancillary exposuresArticle 19A. Financial institution exposures: financing of infrastructure projectsArticle 19B. Financial institution exposures: changes in status of counterpartiesDraft Artilce 19C Financial institution exposures: small exposuresArticle 20 Prohibitions: Non-UK and non-EEA branches and subsidiariesArticle 21 Transitional provisionScheduleSignatureExplanatory NoteExplanatory Memorandum
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Version status: In force | Document consolidation status: Updated to reflect all known changes
Version date: 1 January 2019 - onwards
Version 2 of 2

Article 4 Excluded activities: dealing in investments as principal

The activity of dealing in investments as principal described in article 14 of the Regulated Activities Order 2001 is an excluded activity even where it is not a regulated activity by virtue of articles 15, 19 or 20 of that Order, except where it is carried on in accordance with any of articles 6 to 12 of this Order.

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