A person who is exempt from the general prohibition under the Financial Services and Markets Act 2000, in respect of the activities it carries on. Exempt persons can therefore carry on regulated activities (regulated activity) without authorisation from the Financial Services Authority. Exempt persons include the Bank of England, clearing houses and appointed representatives.
Related links
Practical Law Dictionary. Glossary of UK, US and international legal terms. www.practicallaw.com. 2010.