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statistics can be fun, Resúmenes de Geoquímica

ESERP BarcelonaGeoquímica

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Tipo: Resúmenes

2025/2026

Subido el 26/02/2026

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QUESTION 1
PART A
There is a general prohibition. No person may carry on a regulated activity in the UK unless
authorised or exempt. I must therefore check if I can carry out a regulated activity by asking
myself the following 4 questions.
1. Are we as a firm in business? - YES - we are providing a service to a client who in this
case is/are…
2. Are there any specified investments? - YES in the nature of (private
client/family/corporate etc) work there is/there may include ….
2.1 There is indemnity insurance, warranties, stocks, shares, insurance, pensions, gilts,
bonds, unit trusts, OEICs, regulated mortgage contracts, keyman insurance. (be fact
specific!) Include FOUR specified investments
2.2 Non-specified investments may include cash or land.
(see para 4.11.3 next page for specified and non-specified investments)
3. Is there a specified investment activity? - YES - we will be carrying out 3 specified
activities. We will be...
3.1 ADVISING on the merits of e.g. the transfer of the mortgage, which shares to sell,
which pensions to choose, obtaining life insurance, pensions, bonds, on merits of selling
the shares, pay IHT, what to do with the bonds, encashing the pension. (be fact
specific!) Include FOUR EXAMPLES
3.2 ARRANGING - of insurance quotes, transfer of shares, arranging sale of the shares,
arranging a pension scheme, bringing about the deal in relation to the sale of shares,
arranging the stock transfer, the redemption of the mortgage, arranging stock transfer,
sale of bonds, setting up or encashing the pension (be fact specific!) Include FOUR
EXAMPLES
3.3 carrying out the activity of insurance distribution e.g. in relation to a life insurance
policy (be fact specific!) encashing life insurance policy, bringing about sale of the
assets
4. Are there any exclusions? - YES
4.1 For all of the arranging activities we can rely on the authorised person exclusion
provided that the transaction is entered into through an authorised person or its
execution only and the account for the client for any pecuniary award.
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QUESTION 1

PART A

There is a general prohibition. No person may carry on a regulated activity in the UK unless authorised or exempt. I must therefore check if I can carry out a regulated activity by asking myself the following 4 questions.

  1. Are we as a firm in business? - YES - we are providing a service to a client who in this case is/are… 2. Are there any specified investments? - YES in the nature of (private client/family/corporate etc) work there is/there may include ….

2.1 There is indemnity insurance, warranties, stocks, shares, insurance, pensions, gilts, bonds, unit trusts, OEICs, regulated mortgage contracts, keyman insurance. (be fact specific!) Include FOUR specified investments

2.2 Non-specified investments may include cash or land.

(see para 4.11.3 next page for specified and non-specified investments)

3. Is there a specified investment activity? - YES - we will be carrying out 3 specified activities. We will be...

3.1 ADVISING on the merits of e.g. the transfer of the mortgage, which shares to sell, which pensions to choose, obtaining life insurance, pensions, bonds, on merits of selling the shares, pay IHT, what to do with the bonds, encashing the pension. (be fact specific!) Include FOUR EXAMPLES

3.2 ARRANGING - of insurance quotes, transfer of shares, arranging sale of the shares, arranging a pension scheme, bringing about the deal in relation to the sale of shares, arranging the stock transfer, the redemption of the mortgage, arranging stock transfer, sale of bonds, setting up or encashing the pension (be fact specific!) Include FOUR EXAMPLES

3.3 carrying out the activity of insurance distribution e.g. in relation to a life insurance policy (be fact specific!) encashing life insurance policy, bringing about sale of the assets

4. Are there any exclusions? - YES

4.1 For all of the arranging activities we can rely on the authorised person exclusion provided that the transaction is entered into through an authorised person or its execution only and the account for the client for any pecuniary award.

4.2 For all of our advising activities (e.g. sale of assets) we can rely on the professional necessary exclusion provided that the work is part of our general business activity in relation to the legal work in the course of our business and that it is not separately remunerated.

4.3. There is no exclusion for insurance distribution. Therefore we need to rely on the s.327 exemption.

PART B

SECTION 327 EXEMPTION:

  1. There are 3 conditions. Firstly, we must account to client for any pecuniary reward or other advantage solicitor receives from a third party.The provision of the regulated activity must be incidental to the provision of professional services. 2. We must comply with the two INCIDENTAL TESTS -

a. General test - relates to the firm as a whole and looks at income from and extent of regulated activities generally and compares with overall income of the firm. On the facts, this appears to be met.

b. Specific test - relates to work for the particular client; regulated activity must be complementary and subordinate to the legal work. Based on the facts, this appears to be met.

3. SCOPE RULES (5.2.1(b) - pg 52)

We also need to comply with the scope rules, which prohibit some activities and face restrictions on others. Two examples include:

For example, in order for us to carry out insurance distribution activities there are two examples:

  1. Regarding insurance policies, qualifying contracts of insurance such as whole of life and endowment policies, we cannot advise on these.
  2. Regarding insurance compliance, we must appoint a compliance officer responsible for insurance distribution activities and to register with the FCA.