1.1 This Guidance is issued under section 15(2) of the Financial Services and Markets Regulations 2015 (“FSMR”). It should be read in conjunction with FSMR, the Rulebook of the Financial Services Regulatory Authority (“FSRA”) and the Guidance & Policies Manual (“GPM”) of the FSRA.
1.2 It is relevant to an applicant for a Financial Services Permission (“FSP”) to carry on one or more Regulated Activities, as defined in section 19 of FSMR, where the applicant undertakes “digital investment management”, as outlined in Paragraph 2.1 of this Guidance, and is termed a “Digital Investment Manager”. It explains the requirements that applicants must satisfy to be authorised and operate as Digital Investment Managers.
1.3 This Guidance is not an exhaustive source of the FSRA’s policy on the exercise of its statutory powers and discretions. In discharging its regulatory mandate, the FSRA may impose additional, specific conditions to address other risks posed by the proposed activities of a Digital Investment Manager, above and beyond those in the Rulebook.
1.4 The FSRA is n...