The Financial Services Act 2012 (Transitional Provisions) (Enforcement) Order 2013

section 426 (consequential and supplementary provision);

section 2(2) of the European Communities Act 1972^f2 (general implementation of Treaties).

before the commencement date—

the PRA^f3 would have been the appropriate regulator within the meaning of section 63A(5A) (power to impose penalties) had the person performed or begun to perform that function without approval on the commencement date.

where the function was performed and ceased to be performed before the commencement date, the statement of policy to which the PRA must have regard is the statement published by the Authority and in force at the time that the function was performed;

where the function was performed before the commencement date and continued to be performed on or after the commencement date, the statement of policy to which the PRA must have regard is the first statement published by the PRA under that section.

it appears to a regulator that a person was, before the commencement date, guilty of misconduct (within the meaning of section 66^f1 (disciplinary powers) as it applied at the time of the misconduct);

the controlled function which the person was approved to perform is, on the commencement date, a significant-influence function in relation to the carrying on by a PRA-authorised person of a regulated activity;

the Authority had not, before the commencement date, given a warning notice in accordance with section 67(1)^f2 (disciplinary measures: procedure and right to refer to Tribunal) in respect of the misconduct.

for subsections (2) and (2A), substitute section 66(2) as it applied at the time of the misconduct; and

in subsection (4), for “the regulator knew” substitute “one of the regulators knew”.

where the misconduct occurred and ceased to occur before the commencement date, is the statement published by the Authority and in force at the time that the misconduct occurred;

where the misconduct occurred before the commencement date and continued to occur on or after the commencement date, is the first statement published by the PRA under that section.

before the commencement date, the Authority—

the notice under section 194A(4) or section 195A(4) could have been given by the PRA as the appropriate regulator (within the meaning of section 194A(10) or section 195A(12), as the case may be) had the notice had been given on the commencement date.

the notice given under section 194A(4) or section 195A(4);

information given before the commencement date by the Authority to the firm’s home state regulator, for the purposes of section 194A(5)(c) or section 195A(9), of an intention to exercise a power of intervention.

before the commencement date, the Authority—

the request or notification could have been made to the PRA as the appropriate regulator (within the meaning of section 195(2A)) had the request or notification been made on the commencement date.

had received a request within the meaning of section 198(1)^f1 (request in respect of an overseas insurance company); and

had not made an application to the court within the meaning of section 198(2) pursuant to that request.

before the commencement date—

the firm is, on the commencement date, a PRA-authorised person.

subject to paragraph (b), as if they had been made, imposed or given by the PRA as well as by the FCA;

as if they had not been made, imposed or given by the FCA, if they could not have been made or given on the commencement date by the FCA.

any requirement imposed under section 199(3);

any reference made by the Authority under section 199(3A);

any notice given by the Authority under section 199(4);

any information given by the Authority under section 199(7); and

any information given by the Authority under section 199(9).

became subject to an obligation under section 199(7) to give information to a firm’s home state regulator, ESMA and the Commission but had not discharged that obligation in full;

became subject to an obligation under section 199(8) to rescind or vary a requirement but had not rescinded or varied the requirement.

the firm is not a PRA-authorised person; or

the PRA—

be in writing;

set out details of the obligation to be discharged; and

be made within the period of 45 days which begins on the commencement date.

had received an application under section 200(1)^f1 (rescission and variation of requirements); and

had not—

which occurred or began before the commencement date; and

in respect of which—

a requirement within the meaning of section 205^f3 or 206^f4 as they applied at the time of the contravention;

a relevant requirement within the meaning of section 206A^f5 as it applied at the time of the contravention.

was imposed before the commencement date under a provision listed in paragraph (4); and

is to be treated as if it had been imposed by the PRA by virtue of an order made under section 119(3) of the 2012 Act.

section 43 (imposition of requirements);

section 44 (variation etc. at request of authorised person);

section 45 (variation etc. on the Authority’s own initiative), including the exercise of powers under section 45 by virtue of section 47 (exercise of power in support of overseas regulator);

section 46 (variation of permission on acquisition of control);

section 196 (the power of intervention).

where the misconduct occurred and ceased to occur before the commencement date, is the statement published by the Authority and in force at the time that the misconduct occurred;

where the misconduct occurred before the commencement date and continued to occur on or after the commencement date, is the first statement published by the PRA under that section.

it appears to the FCA that an auditor or actuary to whom section 342 (information given by an auditor or actuary to the Authority) applied had failed, at any time before the commencement date, to comply with a duty imposed on the auditor or actuary under FSMA 2000; and

the Authority had not disqualified the auditor or actuary before the commencement date pursuant to that failure.

had given a warning notice under section 345(2) (whether as a result of that section or of section 249); and

had not given a decision notice or a notice of discontinuance following that warning notice.

had given a decision notice under section 345(3) (whether as a result of that section or of section 249); and

had not given a final notice or a notice of discontinuance following that decision notice.

a contravention of a relevant requirement occurred or began to occur before the commencement date;

the Authority had not, before the commencement date, made an application to the court under section 380^f1 (injunctions) in respect of the contravention; and

the act or omission which constituted the contravention would have constituted a contravention in respect of which the PRA is the appropriate regulator within the meaning of section 380(8) to (10) had the act or omission occurred or begun to occur on the commencement date.

a contravention of a relevant requirement occurred or began to occur before the commencement date;

the Authority had not, before the commencement date, made an application to the court under section 382^f1 (restitution orders) in respect of the contravention; and

the act or omission which constituted the contravention would have constituted a contravention for which the PRA is the appropriate regulator within the meaning of section 382(11) to (13) had the act or omission occurred or begun to occur on the commencement date.

a contravention of a relevant requirement occurred or began to occur before the commencement date;

the Authority had not given a warning notice under section 385(1) before the commencement date in respect of the contravention; and

the act or omission which constituted the contravention would have constituted a contravention for which the PRA is the appropriate regulator within the meaning of section 384(9) to (11)^f1 (power to require restitution) had the act or omission occurred or begun on the commencement date.

was imposed before the commencement date under a provision listed in paragraph (2); and

is to be treated as if it had been imposed by the PRA by virtue of an order made under section 119(3) of the 2012 Act.

section 43 (imposition of requirements);

section 44 (variation etc. at request of authorised person);

section 45 (variation etc. on the Authority’s own initiative), including the exercise of powers under section 45 by virtue of section 47 (exercise of power in support of overseas regulator);

section 46 (variation of permission on acquisition of control);

section 196 (the power of intervention).

gave a warning notice under FSMA 2000; and

had not given a decision notice or a notice of discontinuance following that warning notice.

section 52(6) or (7) (determination of applications);

section 189(4)(b) (assessment: procedure);

section 191A(4) (objection);

section 321(8) (requirements imposed under section 320);

section 345(2) (disqualification), whether as a result of section 345 or of section 249;

paragraph 19(8) of Schedule 3 (establishment).

section 53(4), (7) or (8)(b) (exercise of own-initiative power: procedure);

section 197(3), (6) or (7)(b) (procedure on exercise of power of intervention);

section 200(2) (rescission and variation of requirements).

the written notice was not referred to the Tribunal; or

where the written notice was referred to the Tribunal—

the FCA had not taken action in reliance on the written notice or given a further written notice.

the decision notice was not referred to the Tribunal; or

where the decision notice was referred to the Tribunal—

the FCA had not given a final notice, a notice of discontinuance or a further decision notice.

section 52(9) (determination of applications);

section 189(7) (assessment: procedure);

section 191A(6) (objection);

section 321(9) (requirements imposed under section 320);

section 345(3) (disqualification), whether as a result of section 345 or of section 249;

paragraph 19(12) of Schedule 3 (establishment).

the Authority gave a final notice before the commencement date in accordance with section 390(3) (final notices) and, on the commencement date, the statement had not been published;

the Authority gave a final notice before the commencement date in accordance with section 390(4) and, on the commencement date, the order had not been complied with or had not yet come into effect;

the Authority gave a final notice before the commencement date in accordance with section 390(5) and, on the commencement date, the penalty had not been paid;

the Authority gave a final notice before the commencement date in accordance with section 390(6) and, on the commencement date, the required payment or distribution had not been made;

the Authority gave a final notice before the commencement date in accordance with section 390(7) and, on the commencement date, action had not yet been taken.

the Authority had, under section 206A—

for such period as it considered appropriate;

the period had not expired; and

the Authority had not withdrawn the suspension, limitation or restriction.

within the period of 45 days which begins on the commencement date; and

with the consent of the PRA.

be in writing;

specify the notice, suspension, limitation or restriction to which the transfer election relates;

in the case of a notice, specify whether the transfer election relates to the whole or to part of the notice; and

if the transfer election relates to part of a notice, specify—

in the case of a notice—

in the case of a suspension, limitation or restriction, the person on whom the suspension, limitation or restriction was imposed; and

the PRA.

the whole of a notice, the notice is to be treated as if it had been given by the PRA;

a specified part of a notice, the specified part is to be treated as if it had been given by—

and section 394^f1 (access to FCA and PRA material) applies accordingly.

any representations made—

are to be treated as if they had been made to the PRA (as well as, where relevant, to the FCA);

if the period for making representations in respect of a notice or specified part had not expired before the date of the transfer election, representations are to be made to the PRA and, where article 24(2)(d)(ii)(bb) applies, the FCA, before the end of that period; and

in a case to which article 20(2)(b) or 21(2)(b) applies, any directions given by the Tribunal in relation to the notice or the specified part are to be treated as if they had been given to the PRA (as well as, where relevant, to the FCA).

gave a warning notice under section 52(6) or (7)^f1 (determination of applications); and

had not given a decision notice or a written notice following that warning notice.

section 55X(1)(a) (determination of applications: warning notices and decision notices), where the notice was given by the Authority under section 52(6)(a) and the Authority proposed to exercise its power under section 42(7)(a) or (b) (giving permission);

section 55X(1)(b) and (e), where the notice was given by the Authority under section 52(6)(a) and the Authority proposed to exercise its power under section 43(1) (imposition of requirements);

section 55X(1)(c), where the notice was given by the Authority under section 52(6)(b) and the Authority proposed to exercise its power under section 42(7)(a) or (b);

section 55X(1)(d) and (e), where the notice was given by the Authority under section 52(6)(b) and the Authority proposed to exercise its power under section 43(1);

section 55X(2), where the notice was given by the Authority under section 52(7).

any representations made to the Authority before the commencement date in respect of the warning notice are to be treated as if they had been made to the PRA; and

if the period for making representations in respect of the warning notice had not expired before the commencement date, representations are to be made to the PRA.

in relation to section 55X(1)(e), the FCA; and

in relation to section 55X(1)(a), (b), (c) and (d) and (2)—

the service of a notice of discontinuance by the PRA in relation to part or the whole of the warning notice does not affect the validity of the notice in relation to the FCA for the purposes of section 55X(1)(e); and

the service of a notice of discontinuance by the FCA in relation to its exercise of its power under section 55L (imposition of requirements by FCA) does not affect the validity of the notice in relation to the PRA for the purposes of section 55X(1)(b) or (d).

gave a decision notice under section 52(9); and

had not given a final notice on taking the action to which the decision notice related.

section 55X(4)(a), where the notice was given by the Authority under section 52(9)(a) and the Authority decided to exercise its power under section 42(7)(a) or (b);

section 55X(4)(b) and (e), where the notice was given by the Authority under section 52(9)(a) and the Authority decided to exercise its power under section 43(1);

section 55X(4)(c), where the notice was given by the Authority under section 52(9)(b) and the Authority decided to exercise its power under section 42(7)(a) or (b);

section 55X(4)(d) and (e), where the notice was given by the Authority under section 52(9)(b) and the Authority decided to exercise its power under section 43(1);

section 55X(4)(f), where the notice was given by the Authority under section 52(9)(c).

where the decision notice had been referred to the Tribunal before the commencement date, the FCA; and

where the decision notice had not been referred to the Tribunal before the commencement date—

the service of a notice of discontinuance by the PRA in relation to part or the whole of the decision notice does not affect the validity of the notice in relation to the FCA for the purposes of section 55X(4)(e); and

the service of a notice of discontinuance by the FCA in relation to its exercise of its power under section 55L does not affect the validity of the decision notice in relation to the PRA for the purposes of section 55X(4)(b) or (d).

the Authority gave a written notice under section 53 before the commencement date; and

section 53(4) is to be treated as if it had been given under section 55Y(4);

section 53(7) is to be treated as if it had been given under section 55Y(7);

section 53(8)(b) is to be treated as if it had been given under section 55Y(8)(b).

makes a transfer election in relation to the notice or part of the notice in accordance with this Order; or

is treated as having made such a transfer election.

paragraph (1)(b)(i) applies; and

the variation is to be treated as if it had been imposed by the PRA under section 55M (imposition of requirements by PRA) by virtue of an order made under section 119(3).

gave a warning notice under section 54(1) (cancellation of Part 4 permission: procedure); and

had not given a decision notice or a notice of discontinuance following that warning notice.

gave a decision notice under section 54(2); and

had not given a final notice or a notice of discontinuance following that decision notice.

before the commencement date, the Authority—

the warning notice relates to the acquisition of, or increase in, control over a UK authorised person who is, on the commencement date, a PRA-authorised person.

before the commencement date, the Authority—

the decision notice relates to the acquisition of, or increase in, control over a UK authorised person who is, on the commencement date, a PRA-authorised person.

before the commencement date, the Authority gave a warning notice under section 321(8)^f1 (requirements imposed under section 320), and

had not given a decision notice or a notice of discontinuance following that warning notice.

before the commencement date, the Authority gave a decision notice under section 321(9), and

had not given a final notice on taking the action to which the decision notice related or a notice of discontinuance.

before the commencement date, the Authority received a notice of intention within the meaning of paragraph 19(2)^f1 of Schedule 3 (establishment); and

the notice would have been sent to the PRA as the appropriate UK regulator (within the meaning of paragraph 18A^f2 of that Schedule (meaning of “the appropriate UK regulator”)) had the notice been sent on the commencement date.

gave a warning notice under paragraph 19(8) of Schedule 3; and

had not given a decision notice or a notice of discontinuance following that warning notice.

the Authority—

the decision notice was not referred to the Tribunal.

an act or omission occurred before the commencement date;

the Authority had not, before the commencement date, instituted proceedings for an offence in relation to the act or omission, and

the PRA would have been the appropriate regulator within the meaning of section 401(3A)^f1 (proceedings for offences) in respect of proceedings for an offence in relation to the act or omission had the act or omission occurred on the commencement date.