How-to guide: The general prohibition – beware the consequences of breach (UK)

Updated as of: 03 April 2023
This guide will assist in-house counsel, private practice lawyers, risk compliance teams and others to understand the meaning of the ‘general prohibition’ imposed by section 19 of the Financial Services and Markets Act 2000 (as amended) (FSMA) which is relevant in connection with most regulated activities. Businesses and individuals established in the market or launching new financial products or services to the market will need to consider this restriction. This guide sets out the key components of the general prohibition and the consequences of its breach.