{
  "url": "https://openlegislation.uk/draft-financial-services-and-markets-act-2000-misconduct-and-appropriate-regulator-order-2015/note",
  "json_url": "https://openlegislation.uk/draft-financial-services-and-markets-act-2000-misconduct-and-appropriate-regulator-order-2015/note.json",
  "legislation": "ukdsi/2015/9780111139868",
  "legislation_title": "The Financial Services and Markets Act 2000 (Misconduct and Appropriate Regulator) Order 2015",
  "legislation_url": "https://openlegislation.uk/draft-financial-services-and-markets-act-2000-misconduct-and-appropriate-regulator-order-2015",
  "path": "note",
  "kind": "note",
  "number": null,
  "heading": "Explanatory note",
  "text": "(This note is not part of the Order)\nThis Order amends the Financial Services and Markets Act 2000 (c.8) (“the 2000 Act”) to confer additional disciplinary powers on the Financial Conduct Authority (the “FCA”) and the Prudential Regulation Authority (the “PRA”).\nArticle 2 amends section 66A of the 2000 Act to confer disciplinary powers on the FCA in relation to cases where an individual working in a financial services firm is knowingly concerned in a breach by that firm of a requirement imposed by the Alternative Investment Fund Managers Regulations 2013 (S.I. 2013/1773). This article implements articles 46(2)(i) and 48(1) of Directive 2011/61/EU of the European Parliament and of the Council of 8th June 2011 on Alternative Investment Fund Managers (OJ L 174, 1.7.2011, p.1).\nArticle 3 amends section 204A of the 2000 Act to make the PRA the “appropriate regulator” for the purpose of enforcing, in certain circumstances, certain requirements of Part 5 of the 2000 Act. In relation to certain other of the requirements of Part 5 of the 2000 Act, section 204A is amended to make either the PRA or the FCA the “appropriate regulator”.\nArticle 4 makes transitional provision in relation to contraventions of section 59(1) or (2) of the 2000 Act.\nAn impact assessment has not been produced for this instrument as no impact on the cost of business or the voluntary sector is foreseen.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukdsi/2015/9780111139868/note",
    "retrieved_at": "2026-10-30T15:09:16.332410+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}