On 21 March 2018, there was published on the legislation.gov.uk website, The Financial Services and Markets Act 2000 (Carrying on Regulated Activities by Way of Business) (Amendment) Order 2018 (the Order). Article 2 of the Financial Services and Markets Act 2000 (Carrying on Regulated Activities by Way of Business) Order 2001 (the Business Order) specifies the circumstances in which a person who accepts deposits is not to be regarded as doing so by way of business. The Order amends Article 2 of the Business Order to clarify that certain persons are not accepting deposits by way of business when borrowing money via an electronic system in relation to lending. The Order came into force on 22 March 2018.
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