B.1 Articles 24 and 26 respectively of the Financial Services and Markets Act 2000 (Financial Promotion) Order state the following:
24. Relevant insurance activity: non-real time communications
(1) If the requirements of paragraph (2) are met, the financial promotion restriction does not apply to any non-real time communication which relates to a relevant insurance activity.
(2) The requirements of this paragraph are that the communication is accompanied by an indication -
a. of the full name of the person with whom the investment which is the subject of the communication is to be made (“the insurer”);
b. of the country or territory in which the insurer is incorporated (described as such);
c. if different, of the country or territory in which the insurer’s principal place of business is situated (described as such);
d. whether or not the insurer is regulated in respect of its insurance business;
e. if the insurer is so regulated, of the name of the regulator of the insurer in its principal place of business or, if there is more than one such regulator, the name of the prudential regulator;
f. whether any transaction to which the communication relates would, if entered into by the recipient and the insurer, fall within the jurisdiction of any dispute resolution scheme or compensation scheme and if so, identifying each such scheme.
(3) In this article “full name”, in relation to a person, means the name under which that person carries on business and, if different, that person’s corporate name.
26. Relevant insurance activity: real time communication
The financial promotion restriction does not apply to any real time communication (whether solicited or unsolicited) which relates to a relevant insurance activity.
Chapter 1 Extending Employers Freedom – Introduction
Chapter 2 Responding to the Consultation
Chapter 3 FSMA Two-Year Review Exemption
Chapter 4 Pensions Promotions to Employees
Chapter 5 Promoting Insurance Products
Chapter 6 Employee Share Schemes and Plans
Chapter 7 Partial Regulatory Impact Assessment
Chapter 7A Options – Legislate or Not
Annex A Current Pensions Exemption
Annex B Current Insurance Exemptions
Annex C Proposed New Legislation
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