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Why is the professional-firm exemption a boundary test rather than blanket permission for financial advice given by a solicitor or firm?
What facts would you look at to decide whether a financial services activity is reasonably regarded as part of a client's legal work rather than standalone financial advice?
Why can the same financial activity fall inside or outside the professional-firm exemption depending on the service’s practical context?
What separates financial services activity that is incidental or necessary to wider professional services from standalone regulated financial advice?
What risk arises if a firm wrongly assumes that the professional-firm exemption applies?
A client wants transaction advice that includes guidance on a financial product; how should the firm decide whether the financial element is reasonably part of its wider professional services, and respond if the work becomes standalone regulated advice?
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