Introductory text

Draft Regulations laid before Parliament under paragraph 26 of Schedule 2 to the Financial Services and Markets Act 2000 (c. 8), and sections 5(3) and 84(5) of the Financial Services and Markets Act 2023 (c. 29), for approval by resolution of each House of Parliament.

FINANCIAL SERVICES AND MARKETS

Made ***

Coming into force 1st January 2025

The Treasury make these Regulations in exercise of the powers conferred by sections 22(1) and (5) and 428(3) of, and paragraph 25(1)(a) of Schedule 2 to, the Financial Services and Markets Act 2000^f1, and sections 5(1), 83(1) and (2) of the Financial Services and Markets Act 2023^f2.

In the opinion of the Treasury, one of the effects of these Regulations is that an activity which is not a regulated activity will become a regulated activity.

In accordance with paragraph 26 of Schedule 2 to the Financial Services and Markets Act 2000 and sections 5(3) and 84(5) of the Financial Services and Markets Act 2023^f3, a draft of these Regulations has been laid before, and approved by a resolution of, each House of Parliament.