If you are making a fortune out of hooking up Arabs with UK companies such as Manchester City plc and Barclays, then you would have thought that a little bit of FSA registration might be in order. Particularly if you blag about your activities to the press.
Under Section 19 of the Financial Services & Markets Act 2000 (FSMA), any person who carries on a regulated activity in the UK must be authorised by the FSA or exempt (an appointed representative or some other exemption). Breach of section 19 may be a criminal offence and punishable on indictment by a maximum term of two years imprisonment and/or a fine.
The regulated activities and specified investments are detailed in The Financial Services and Markets Act 2000 (Regulated Activities) Order 2001 (RAO), which is secondary legislation under FSMA. Regulated activities are defined in Part II of the RAO and consist of, amongst others, advising on investments and arranging deals in investments, and investments for these purposes include shares.
A search of the FSA register shows nothing for PCP Capital Partners or for Amanda Staveley. PCP Capital Partners might be hard to track down because they aren’t in the phone book and they appear to have no office address. Their registered address appears to be that of Forsters, a firm of solicitors.
Perhaps the FSA might like to call on Roger Jenkins, Barclays double dipper and highest paid banker, to find out.