SMCR financial activities
174any of the following:
(a) regulated activities;
(b) an activity carried on in connection with a regulated activity (whether current, past or contemplated);
(c) an activity held out as being for the purposes of a regulated activity (whether current, past or contemplated);
(d) activities that constitute dealing in investments as principal, disregarding the exclusion in article 15 of the Regulated Activities Order (Absence of holding out etc); or
(e) activities listed in points 2 to 15 of Annex I to the CRD (List of activities subject to mutual recognition).