delete The Financial Services and Markets Act 2000 (Exemption) (Amendment) Order 2008
Amends the Financial Services and Markets Act 2000 (Exemption) Order 2001 to add Capital for Enterprise Limited to Part III of the Schedule, exempting it from financial services regulation when carrying on regulated activities that provide services only to the Crown.
This targeted exemption for a single company creates competitive distortion in Crown procurement — competitors cannot serve the Crown on the same regulatory terms. If financial services activities are safe enough to conduct without regulation when the customer is the Crown, they should not be regulated for any market participant; if they pose risks, the Crown customer does not eliminate those risks. Such specific carve-outs for named entities lack principled regulatory logic and resemble corporate privilege rather than sound policy.