FSMA

means the Financial Services and Markets Act 2000.

regulated credit agreement

has the meaning given by article 60B(3) of the Regulated Activities Order

disbursements

means any costs or expenses paid or to be paid to a third party on behalf of the client or trust (including any VAT element) save for office expenses such as postage and courier fees

regulated consumer hire agreement

has the meaning given by article 60N(3) of the Regulated Activities Order

Regulated Activities Order

means the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001

insurance distribution activity

means any of the following regulated activities as specified in the Regulated Activities Order which are carried on in relation to a contract of insurance or rights to or interests in a life policy:

1. dealing in investments as agent (article 21) 
2. arranging (bringing about) deals in investments (article 25(1))
3. making arrangements with a view to transactions in investments (article 25(2))
4. assisting in the administration and performance of a contract of insurance (article 39A)
5. advising on investments (except peer to peer agreements) (article 53(1))
6. agreeing to carry on a regulated activity in (a) to (e) above (article 64).

insurance-based investment product

has the meaning given in the FCA Handbook

contract of insurance

means (in accordance with article 3(1) of the Regulated Activities Order) any contract of insurance which is a long-term insurance contract or a general insurance contract