Section 22

An activity is a regulated activity for the purposes of this Act if it is an activity of a specified kind which is carried on by way of business and— relates to an investment of a specified kind; or in the case of an activity of a kind which is also specified for the purposes of this paragraph, is carried on in relation to property of any kind. An activity is also a regulated activity for the purposes of this Act if it is an activity of a specified kind which is carried on by way of business and relates to— information about a person's financial standing, ... or . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . administering a benchmark. An activity is also a regulated activity for the purposes of this Act if it is an activity of a specified kind which— is carried on by way of business in Great Britain, and is, or relates to, claims management services. Schedule 2 makes provision supplementing this section. Nothing in Schedule 2 limits the powers conferred by subsection (1) or (1A) subsections (1) to (1B) . “Investment” includes any asset, right or interest (including where an asset, right or interest is, or comprises or represents, a cryptoasset). “Specified” means specified in an order made by the Treasury. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . For the purposes of subsection (1A)(c), “benchmark” has the meaning given by Article 3 of the EU Benchmarks Regulation 2016, and “administering” a benchmark means acting as an administrator of that benchmark within the meaning of that Article.

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Source: legislation.gov.uk · retrieved 2026-09-04