If interested, please see:
4) A transaction which includes a "lease" in which, at the inception of the lease, the intention is to transfer ownership of the property to the tenant is a "financial product or service."
This does not mean that all leases are financial products or that lease/option deals are impossible. This does mean that lease/option deals may involve a regulated financial product or service in some circumstances. In those cases, the lease/option deal would need to comply with the applicable regulations.