How JustAnswer Works:

  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.

Ask UKSolicitorJA Your Own Question

UKSolicitorJA
UKSolicitorJA, Solicitor
Category: Law
Satisfied Customers: 4312
Experience:  English solicitor with over 12 years experience
62162956
Type Your Law Question Here...
UKSolicitorJA is online now

We are a inbound marketing agency who have a licence to deliver

Customer Question

We are a inbound marketing agency who have a licence to deliver marketing to firms by HubSpot (our partner). We received a letter from the FCA regarding their concerns that we are in breach of sections 19 and 21 of FSMA. They have issued a public warning against our company on their website. They state in their letter that the company we delivered the marketing campaign for were not approved for financial promotions although their literature clearly states that they are! The company that approved their financial promotions is an accountancy established in the UK over 60 years. The FCA state in their letter that the accountants do not have the appropriate permission to approve financial promotions as an exempt professional firm and the Financial promotions are unauthorised.
As an agency we do not collect client funds, give financial advice, or arrange deals of any kind. If a subscriber requests information on a particular company we simply forward the information and its left to the subscriber to do as they please with the information.
As far as we can tell the client we delivered the campaign on behalf of followed all correct procedures. Although it has been brought to our attention that their promotional literature sign off is invalid, we struggle to understand why the FCA has issued a public warning against our firm instead of investigating the authorised company that approved the financial promotion in the first place.
I want to know if we will need to employ a solicitor to reply to the FCA or whether a letter from the company director explaining our position will be enough to satisfy them. The irony here is we specialise in marketing for the asset management sector and understand regulation very well. As far as i understand we are not in breach of sections 19 or 21. Help?
Submitted: 9 months ago.
Category: Law
Customer: replied 9 months ago.
(Posted by JustAnswer at customer's request) Hello. I would like to request the following Expert Service(s) from you: Live Phone Call. Let me know if you need more information, or send me the service offer(s) so we can proceed.
Expert:  UKSolicitorJA replied 9 months ago.
Hello,
S. 19 provides as follows
(1)No person may carry on a regulated activity in the United Kingdom, or purport to do so, unless he is—
(a)an authorised person; or
(b)an exempt person.
Regulated activities include carrying on business relating to an investment of a specified kind or relating to property of any kind.
S. 21 provides as follows
(1)A person (“A”) must not, in the course of business, communicate an invitation or inducement to engage in investment activity.
(2)But subsection (1) does not apply if—
(a)A is an authorised person; or
(b)the content of the communication is approved for the purposes of this section by an authorised person.
Although you could argue that you are not in breach of S. 19 as you do not carry out regulated activities, you appear to be in breach of S.21 as you are communicating an invitation or inducement to engage in investment activity which has not been approved by an authorised person.
The accountancy firm is exempt, not authorised, and therefore does not meet the exemption in subsection 2(b) above.
A letter from the company director may suffice for now but if the FCA do not accept the argument, then it may be advisable to engage a solicitor.
Hope this helps

What Customers are Saying:

 
 
 
  • Thank you so much for your help. Your answers were really useful and came back so quickly. Great! Maggie
< Previous | Next >
  • Thank you so much for your help. Your answers were really useful and came back so quickly. Great! Maggie
  • A quick response, a succinct and helpful answer in simple English. I believe I can now confront the counter party with confidence -- worth the 30 bucks! Rick
  • Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help. Mary C.
  • This expert is wonderful. They truly know what they are talking about, and they actually care about you. They really helped put my nerves at ease. Thank you so much!!!! Alex
  • Thank you for all your help. It is nice to know that this service is here for people like myself, who need answers fast and are not sure who to consult. GP
  • I couldn't be more satisfied! This is the site I will always come to when I need a second opinion. Justin
  • Just let me say that this encounter has been entirely professional and most helpful. I liked that I could ask additional questions and get answered in a very short turn around. Esther
 
 
 

Meet The Experts:

 
 
 
  • Jo C.

    Jo C.

    Barrister

    Satisfied Customers:

    30316
    Over 5 years in practice
< Last | Next >
  • http://ww2.justanswer.com/uploads/EM/emus/2015-7-7_192327_bigstockportraitofconfidentfemale.64x64.jpg Jo C.'s Avatar

    Jo C.

    Barrister

    Satisfied Customers:

    30316
    Over 5 years in practice
  • http://ww2.justanswer.com/uploads/BE/benjones/2015-12-1_0437_ennew.64x64.jpg Ben Jones's Avatar

    Ben Jones

    UK Lawyer

    Satisfied Customers:

    11553
    Qualified Solicitor - Please start your question with 'For Ben Jones'
  • http://ww2.justanswer.com/uploads/BU/Buachaill/2012-5-25_211156_barrister5.64x64.jpg Buachaill's Avatar

    Buachaill

    Barrister

    Satisfied Customers:

    1754
    Barrister 17 years experience
  • http://ww2.justanswer.com/uploads/JO/jojobi/2013-3-19_0265_maxlowryphoto.64x64.jpg Max Lowry's Avatar

    Max Lowry

    Advocate

    Satisfied Customers:

    894
    LLB, 10 years post qualification experience
  • http://ww2.justanswer.com/uploads/UK/UKLawyer/2012-4-12_9849_F2.64x64.jpg UK_Lawyer's Avatar

    UK_Lawyer

    Solicitor

    Satisfied Customers:

    750
    I am a qualified solicitor and an expert in UK law.
  • http://ww2.justanswer.com/uploads/KA/Kasare/kasare.64x64.jpg Kasare's Avatar

    Kasare

    Solicitor

    Satisfied Customers:

    402
    Solicitor, 10 yrs plus experience in civil litigation, employment and family law
  • http://ww2.justanswer.com/uploads/OS/osh/2015-7-7_19268_gettyimagesb.64x64.jpg Joshua's Avatar

    Joshua

    Lawyer

    Satisfied Customers:

    8199
    LL.B (Hons), Higher Prof. Dip. Law & Practice