Commentary Appointed representatives Section 10: Permission to carry on regulated activities
189.Section 10 amends section 39 of FSMA (appointed representatives) to provide that a person who has permission under FSMA only in relation to a qualifying activity may also carry on other regulated activities as an appointed representative. “Qualifying activity” means a regulated activity of a kind prescribed by the Treasury and which relates to a loan or other form of credit (other than a loan secured on land) or to a contract for the hire of goods.