(1) The following activities are specified under section 71K of FSMA 2000 as designated activities for the purposes of that Act -
(a) manufacturing a consumer composite investment which is, or is proposed to be, made available to a retail investor located in the United Kingdom;
(b) advising on a consumer composite investment if the advice is given to -
(i) a retail investor located in the United Kingdom, or
(ii) an agent for that investor;
(c) offering a consumer composite investment to a retail investor located in the United Kingdom;
(d) selling a consumer composite investment to a retail investor located in the United Kingdom.
(2) In this regulation -
(a) "advising on a consumer composite investment" means giving advice on the merits of -
(i) buying, selling, subscribing for, exchanging, holding or redeeming a consumer composite investment,
(ii) exercising, or not exercising, any right conferred by a consumer composite investment to buy, sell, subscribe for, exchange or redeem a cons
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