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General prohibition
Practical Law UK Glossary 4-107-6643 (Approx. 4 pages)
Glossary
General prohibition
The prohibition imposed by section 19 of the Financial Services and Markets Act 2000 (FSMA), which states that no person may carry on a regulated activity in the UK, or purport to do so, unless that person is an authorised person or an exempt person.
When considering this term in the context of financial services, reference should be made to the FCA Handbook glossary definition of general prohibition.