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 the list of Annex 1 activities180.