Reverse inquiry: Difference between revisions
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{{mifid2anat|42}}To the unsuspecting, a topic to be approached with great caution but to [[Mediocre lawyer|cross-border boxwallahs]] with much antipicatory licking of the lips. It’s all about one’s [[regulatory perimeter]] — a topic which will bore many people to tears, but provides a luxuriant lifestyle to the kind of attorney (aka a [[Mediocre lawyer|cross-border boxwallah]]) who can break through that outer crust of stale, doughy tedium and into the delicious, weed-strewn details of [[cross-border regulation]]<ref>If you are the sort of person that likes rocket or even dandelion on your salad, step this way.</ref>. | {{mifid2anat|42}}To the unsuspecting, a topic to be approached with great caution but to [[Mediocre lawyer|cross-border boxwallahs]] with much antipicatory licking of the lips. It’s all about one’s [[regulatory perimeter]] — a topic which will bore many people to tears, but provides a luxuriant lifestyle to the kind of attorney (aka a [[Mediocre lawyer|cross-border boxwallah]]) who can break through that outer crust of stale, doughy tedium and into the delicious, weed-strewn details of [[cross-border regulation]]<ref>If you are the sort of person that likes rocket or even dandelion on your salad, step this way.</ref>. | ||
Now if a fellow sets herself up to provide regulated financial services in, oooh, I don’t know, say the {{tag|United Kingdom}}, subject to and [[all watched over by the machines of loving grace]]<ref>{{Google|https://en.wikipedia.org/wiki/All_Watched_Over_by_Machines_of_Loving_Grace_(poetry_collection)}}.</ref> of the [[Financial Conduct Authority]], then | Now if a fellow sets herself up to provide regulated financial services in, oooh, I don’t know, say the {{tag|United Kingdom}}, subject to and [[all watched over by the machines of loving grace]]<ref>{{Google|https://en.wikipedia.org/wiki/All_Watched_Over_by_Machines_of_Loving_Grace_(poetry_collection)}}.</ref> of the [[Financial Conduct Authority]], then must she withhold her services from someone who [[reach out|reaches out]] from foreign shores to ask for them? Must she worry about the financial services regulations of that far-away place? | ||
The answer question depends on the [[regulatory perimeter|regulatory “perimeter”]] of that foreign jurisdiction. Normally, it will coincide with the physical borders of the country: as long as our fellow doesn’t provide her | The answer question depends on the [[regulatory perimeter|regulatory “perimeter”]] of that foreign jurisdiction. Normally, it will coincide with the physical borders of the country: as long as our fellow doesn’t provide her services ''in'' that jurisdiction she will not be subject to its laws and regulations. | ||
These days, the mod cons | These days, the mod cons — telephony, the world-wide internet — makes it all so much harder. What if our fellow stays in England and the client stays in its jurisdiction? Where then is the business conducted? | ||
===“At the client’s initiative”=== | ===“At the client’s initiative”=== | ||