PROF 5.4 Application of the Distance Marketing Regulations

In addition to those provisions of the Distance Marketing Regulations which apply directly, an authorised professional firm must, with respect to its non-mainstream regulated activities, comply with regulations 7 to 11 and 15 of the Distance Marketing Regulations. Those regulations have effect to cancel distance contracts the making or performance of which by such firms constitutes a non-mainstream regulated activity.

Paragraph (1) does not apply in relation to regulations 7 to 8 and 15 if the designated professional body of the authorised professional firm has rules equivalent to some or all of those regulations and:

1. (a)

   those rules have been approved by the FCA under section 332(5) of the Act; and

2. (b)

   the authorised professional firm is subject to those rules in the form in which they have been approved;

in which case those regulations are disapplied to the extent that they are implemented by the rules of the designated professional body.