Authorisation to carry on investments business arises
either by being an organisation which is automatically authorised under
the Act or by applying to an appropriate body.
Currently, the Securities and Investments
Board (SIB) is the agency designated by the Chancellor of the Exchequer
to oversee the regulation of investment business and the Self Regulatory
Organisations (SROs). The SROs are organisations designed specifically
to control particular areas of investment business. Members of the
various regulatory bodies are required to follow the rules of their
relevant organisation. All of the SROs have rules which provide
equivalent investor protection to those of the SIB.