585.This section sets out the tests which need to be met in order for a professional to qualify for the exemption, including:
	the professional must be a member of a professional body which is designated by the Treasury;
	the professional must not receive a commission from a third party in respect of the regulated activities unless he accounts to his client for it;
	the regulated activities must be provided in a way that is incidental and complementary to the provision of professional (for example, legal, actuarial or accountancy) services;
	the regulated activities must not relate to sensitive products (for example, life insurance). What amounts to a “sensitive product” is to be specified by the Treasury in regulations.
Commentary on Sections Part Xx: Provision of Financial Services by Members of the Professions Section 327: Exemption from the general prohibition