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28.08.2025

UK Financial Conduct Authority Consultation on the Ancillary Activities Test (CP25/19)

Europex welcomes the opportunity to respond to the UK Financial Conduct Authority consultation on the Ancillary Activities Test (CP25/19).

We broadly support the FCA’s objective of creating a clearer and more workable regime and appreciate the constructive direction of the proposals. The attached paper sets out detailed comments in response to the consultation questions.

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