Podcast Location:
Download it here [file size: 22.3 MB]
Categories:
Banking and Financial Services
Practice Management, Marketing & Skills
CPD Points:
Up to 1 point. details »

Due to the difference in guidelines between the SRA and the Bar Standards Board, CPD points are awarded differently for Solicitors, Barristers and Legal Executives:

Regulated by the Solicitors Regulation Authority:
Listen and pass the quiz: Gain 1 CPD point (60 minutes)
Listen only, gain ½ a CPD point (30 minutes)

Regulated by the Bar Standards Board:
Listen and pass the quiz: Gain 1 accredited CPD point (60 minutes)

Regulated by ILEX:
Listen and pass the quiz: Gain 1 CPD point (60 minutes)
Listen only, gain ½ a CPD point (30 minutes)

Cost:
  • FREE
Length:
30 minutes of audio
(+ optional 5 minute online quiz)
Plays on Computer:
Yes Downloadable as MP3:    Yes
Contributor(s):
Course Aims:

This podcast aims to explain what financial advice solicitors may or may not offer to clients, which the Solicitors Regulation Authority requires all solicitors to understand. It aims to inform listeners when their work will amount to a “regulated activity” or a “financial promotion” under sections 19 and 21 of the FSMA 2000 and consequently when authorisation or exemption will be required for it to be carried out.

THIS CPDCAST IS NOT ACCREDITED BY THE BAR STANDARDS BOARD

Outcomes:
After completing the course you will:
  • Understand the general prohibition in section 19 FSMA 2000 preventing a solicitor from carrying out a “regulated activity” unless authorised or exempt;
  • Know in what circumstances this prohibition applies and how a solicitor can claim exemption under the FSMA 2000;
  • Understand what amounts to a “financial promotion”;
  • Understand the restriction in section 21 FSMA 2000 on unauthorised persons communicating a financial promotion and the exemptions from this restriction.
Level:
Beginner Difficulty: 1 of 5
Classification:
Introduction
Practical Guide
Sources and References:
  • Financial Services and Markets Act 2000;
  • Financial Services and Markets Act 2000;
  • (Regulated Activities) Order 2001;
  • Solicitors Regulation Authority Financial Services Scope Rules 2001;
  • Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (SI 2005/1529).

In this podcast Fiona Ball explains how the Financial Services and Markets Act 2000 regulates the way in which solicitors undertake certain aspects of their business. The two main restrictions of most relevance to solicitors are explained, namely carrying out a regulated activity and making a financial promotion

Podcast added 30/10/09

THIS CPDCAST IS NOT ACCREDITED BY THE BAR STANDARDS BOARD

Podcast last reviewed: 2011-05-27

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