Paragraph 3 Functions of the FCA

(1)

The FCA has the functions conferred on it by these Regulations.

(2)

In determining the general policy and principles by reference to which it performs particular functions under these Regulations, and in giving general guidance under these Regulations, the FCA must, so far as is reasonably possible, act in a way which—

(a)

is compatible with its strategic objective as defined in section 1B(2) of the Act M1 (the FCA's general duties); and

(b)

advances one or more of its operational objectives as defined in section 1B(3) of the Act.

Annotations

Marginal citations

M1: Sections 1B and 1F were inserted by section 6 of the Financial Services Act 2012.

Notes on the whole SI

Textual amendments

F1: Regulations revoked (14.12.2023 for the revocation of reg. 51) by Financial Services and Markets Act 2023 (c. 29), s. 86(3), Sch. 1 Pt. 2 (with s. 1(4)); S.I. 2023/1382, reg. 2(c)(xviii)