The FSMA (Exemptions from Financial Promotion General Requirement) Regulations 2023 take effect from 27 September, and permit authorised firms to approve promotions of unauthorised firms without holding the newly required permission to do so in 3 circumstances:
- where the authorised firm has prepared the communication which will be communicated by an unauthorised person;
- where an unauthorised person who is a member of the same group as the authorised person has prepared the communication; and
- where an appointed representative of the authorised person has prepared the communication and it relates to business for which the authorised person has accepted responsibility.