In unit 8 section 5 page 8 says: '... but only in respect of a restricted range of exempt or non-mainstream regulated activities. Such activities must... not be conducted for individual clients, but rather for business clients' whereas page 9 says: '... if it wishes to conduct non mainstream regulated activities. These are generally activities which involve advice to individuals...' Can anyone explain?
confusing Yes - I agree. The definition of mainstream seems to switch during the chapter. My understanding is that the dodgy stuff to individuals etc is "non-exempt" and is "mainstream". Whereas the stuff to business customers is "exempt" and "non-mainstream". If in doubt just use exempt and non-exempt and keep away from the word mainstream (unless of course the institute use that word in the multi choice question?) Hope this helps.
