Financial Services and Markets Act 2000 in Northern Ireland

2000 c. 8 · Enacted 14 June 2000 · Extends to United Kingdom

Contents

1. Part I: The Regulator
2. 1The Financial Services Authority. Repealed
3. The Authority’s general duties Repealed
4. 2The Authority’s general duties. Repealed
5. The regulatory objectives Repealed
6. 3Market confidence. Repealed
7. 3AFinancial stability Repealed
8. 4Public awareness. Repealed
9. 5The protection of consumers. Repealed
10. 6The reduction of financial crime. Repealed
11. Enhancing public understanding of financial matters etc Repealed
12. 6AEnhancing public understanding of financial matters etc Repealed
13. Corporate governance Repealed
14. 7Duty of Authority to follow principles of good governance. Repealed
15. Arrangements for consulting practitioners and consumers Repealed
16. 8The Authority’s general duty to consult. Repealed
17. 9The Practitioner Panel. Repealed
18. 10The Consumer Panel. Repealed
19. 11Duty to consider representations by the Panels. Repealed
20. Reviews Repealed
21. 12Reviews. Repealed
22. 13Right to obtain documents and information. Repealed
23. Inquiries Repealed
24. 14Cases in which the Treasury may arrange independent inquiries. Repealed
25. 15Power to appoint person to hold an inquiry. Repealed
26. 16Powers of appointed person and procedure. Repealed
27. 17Conclusion of inquiry. Repealed
28. 18Obstruction and contempt. Repealed
29. Part 1A: The Regulators
30. Chapter 1: The Financial Conduct Authority
31. The Financial Conduct Authority
32. 1AThe Financial Conduct Authority
33. The FCA's general duties
34. 1BThe FCA's general duties
35. 1CThe consumer protection objective
36. 1DThe integrity objective
37. 1EThe competition objective
38. 1EBCompetitiveness and growth objective
39. Interpretation of terms used in relation to FCA's general duties
40. 1FMeaning of “relevant markets” in strategic objective
41. 1GMeaning of “consumer”
42. 1HFurther interpretative provisions for sections 1B to 1G
43. 1IMeaning of “the UK financial system”
44. Modifications applying if core activity not regulated by PRA
45. 1IAModifications applying if core activity not regulated by PRA
46. Power to amend objectives
47. 1JPower to amend objectives
48. Recommendations
49. 1JARecommendations by Treasury in connection with general duties
50. Guidance about objectives
51. 1KGuidance about objectives
52. Supervision, monitoring and enforcement
53. 1LSupervision, monitoring and enforcement
54. Arrangements for consulting practitioners and consumers
55. 1MThe FCA's general duty to consult
56. 1MAComposition of Panels
57. 1NThe FCA Practitioner Panel
58. 1OThe Smaller Business Practitioner Panel
59. 1PThe Markets Practitioner Panel
60. 1QThe Consumer Panel
61. 1QAThe Listing Authority Advisory Panel
62. 1RDuty to consider representations made by the Panels
63. 1RAStatement of policy on panel appointments
64. Requirements for public consultation
65. 1RBRequirements in connection with public consultations
66. Reviews
67. 1SReviews
68. 1TRight to obtain documents and information
69. Chapter 2: The Prudential Regulation Authority
70. The Prudential Regulation Authority
71. 2AThe Prudential Regulation Authority
72. 2ABFunctions of the PRA
73. The PRA's general duties
74. 2BThe PRA's general objective
75. 2CInsurance objective
76. 2DPower to provide for additional objectives
77. 2EStrategy
78. 2FInterpretation of references to objectives
79. 2GLimit on effect of sections 2B to 2D
80. 2HSecondary objectives and duty to have regard to regulatory principles
81. 2IGuidance about objectives
82. 2JInterpretation of Chapter 2
83. Supervision
84. 2KArrangements for supervision of PRA-authorised persons
85. Arrangements for consulting practitioners
86. 2LThe PRA's general duty to consult
87. 2LAComposition of Panels
88. 2MThe PRA Practitioner Panel
89. 2MAThe Insurance Practitioner Panel
90. 2NDuty to consider representations
91. 2NAStatement of policy on panel appointments
92. Requirements for public consultation
93. 2NBRequirements in connection with public consultations
94. Reviews
95. 2OReviews Repealed
96. 2PRight to obtain documents and information Repealed
97. Chapter 3: Further provisions relating to FCA and PRA
98. Introductory
99. 3AMeaning of “regulator”
100. Regulatory principles
101. 3BRegulatory principles to be applied by both regulators
102. Corporate governance
103. 3CDuty to follow principles of good governance
104. Relationship between FCA and PRA
105. 3DDuty of FCA and PRA to ensure co-ordinated exercise of functions
106. 3EMemorandum of understanding
107. 3FWith-profits insurance policies
108. 3GPower to establish boundary between FCA and PRA responsibilities
109. 3HParliamentary control of orders under section 3G
110. Power of PRA to restrain proposed action by FCA
111. 3IPower of PRA to require FCA to refrain from specified action
112. 3JPower of PRA in relation to with-profits policies
113. 3KRevocation of directions under section 3I or 3J
114. 3LFurther provisions about directions under section 3I or 3J
115. Directions relating to consolidated supervision
116. 3MDirections relating to consolidated supervision of groups
117. 3NRevocation of directions under section 3M
118. 3OFurther provisions about directions under section 3M
119. 3PConsultation by regulator complying with direction
120. Co-operation with Bank of England
121. 3QCo-operation by FCA ... with Bank of England
122. Arrangements for provision of services
123. 3RArrangements for provision of services
124. Rules
125. 3RADuty of FCA and PRA to review rules
126. 3RBStatement of policy relating to review of rules
127. 3RCRequirement to review specified rules
128. 3RDReport on certain reviews
129. 3REPower of Treasury to require making of rules by regulations
130. Enhancing public understanding of financial matters etc.
131. 3SThe consumer financial education body Repealed
132. Interpretation
133. 3TInterpretation
134. Part II: Regulated And Prohibited Activities
135. The general prohibition
136. 19The general prohibition.
137. Requirement for permission
138. 20Authorised persons acting without permission.
139. Financial promotion
140. 21Restrictions on financial promotion.
141. Regulated activities
142. 22Regulated activities
143. 22ADesignation of activities requiring prudential regulation by PRA
144. 22BParliamentary control in relation to certain orders under section 22A
145. Offences
146. 23Contravention of the general prohibition or section 20(1) or (1A).
147. 23AParliamentary control in relation to certain orders under section 23
148. 24False claims to be authorised or exempt.
149. 25Contravention of section 21.
150. Enforceability of agreements
151. 26Agreements made by unauthorised persons.
152. 26AAgreements relating to credit
153. 27Agreements made through unauthorised persons.
154. 28Agreements made unenforceable by section 26 or 27: general cases.
155. 28ACredit-related agreements made unenforceable by section 26, 26A or 27
156. 28BDecisions under section 28A: procedure
157. 29Accepting deposits in breach of general prohibition.
158. 30Enforceability of agreements resulting from unlawful communications.
159. Part III: Authorisation and Exemption
160. Authorisation
161. 31Authorised persons.
162. 32Partnerships and unincorporated associations.
163. Ending of authorisation
164. 33Withdrawal of authorisation ....
165. 34EEA firms. Repealed
166. 35Treaty firms. Repealed
167. 36Authorised open-ended investment companies
168. Exercise of EEA rights by UK firms
169. 37Exercise of EEA rights by UK firms. Repealed
170. Exemption
171. 38Exemption orders.
172. 39Exemption of appointed representatives.
173. 39ACertain tied agents operating outside United Kingdom
174. Part IV: Permission to Carry on Regulated Activities
175. Application for permission Repealed
176. 40Application for permission. Repealed
177. 41The threshold conditions. Repealed
178. Permission Repealed
179. 42Giving permission. Repealed
180. 43Imposition of requirements. Repealed
181. Variation and cancellation of Part IV permission Repealed
182. 44Variation etc. at request of authorised person. Repealed
183. 45Variation etc. on the Authority’s own initiative. Repealed
184. 46Variation of permission on acquisition of control. Repealed
185. 47Exercise of power in support of overseas regulator. Repealed
186. 48Prohibitions and restrictions. Repealed
187. Connected persons Repealed
188. 49Persons connected with an applicant. Repealed
189. Additional permissions Repealed
190. 50Authority’s duty to consider other permissions etc. Repealed
191. Procedure Repealed
192. 51Applications under this Part. Repealed
193. 52Determination of applications. Repealed
194. 53Exercise of own-initiative power: procedure. Repealed
195. 54Cancellation of Part IV permission: procedure. Repealed
196. Notification Repealed
197. 54ANotification of ESMA Repealed
198. 54BNotification of EBA Repealed
199. References to the Tribunal Repealed
200. 55Right to refer matters to the Tribunal. Repealed
201. Part 4A: Permission to carry on regulated activities
202. Application for permission
203. 55AApplication for permission
204. 55BThe threshold conditions
205. 55CPower to amend Schedule 6
206. 55DFirms based outside the United Kingdom
207. 55EGiving permission: the FCA
208. 55FGiving permission: the PRA
209. 55GGiving permission: special cases
210. Variation and cancellation of Part 4A permission
211. 55HVariation by FCA at request of authorised person
212. 55IVariation by PRA at request of authorised person
213. 55JVariation or cancellation on initiative of regulator
214. 55JAVariation or cancellation on initiative of FCA: additional power
215. 55KInvestment firms: particular conditions that enable cancellation
216. 55KAInsurance undertakings, reinsurance undertakings and third-country insurance undertakings: particular conditions that enable cancellation Repealed
217. Imposition and variation of requirements
218. 55LImposition of requirements by FCA
219. 55MImposition of requirements by PRA
220. 55NRequirements under section 55L or 55M: further provisions
221. 55NAGeneral requirement relating to financial promotion approval
222. 55NBSection 55NA: power to provide for exemptions
223. 55OImposition of requirements on acquisition of control
224. 55PProhibitions and restrictions
225. 55PAAssets requirements imposed on insurance undertakings or reinsurance undertakings Repealed
226. 55PBRequirements relating to general meetings
227. Exercise of power in support of overseas regulator
228. 55QExercise of power in support of overseas regulator
229. Connected persons
230. 55RPersons connected with an applicant
231. Additional permissions
232. 55SDuty of FCA or PRA to consider other permissions Repealed
233. Persons whose interests are protected
234. 55TPersons whose interests are protected
235. Procedure
236. 55UApplications under this Part
237. 55VDetermination of applications
238. 55WApplications under this Part: communications between regulators
239. 55XDetermination of applications: warning notices and decision notices
240. 55XAApplications relating to administering a benchmark
241. 55YExercise of own-initiative power: procedure
242. 55ZCancellation of Part 4A permission or permission under section 55NA: procedure
243. Notification
244. 55Z1Notification of ESMA Repealed
245. 55Z2Notification of EBA Repealed
246. 55Z2ANotification of the European bodies Repealed
247. References to the Tribunal
248. 55Z3Right to refer matters to the Tribunal
249. Interpretation
250. 55Z4Interpretation of Part 4A
251. Part V: Performance of Regulated Activities
252. Prohibition orders
253. 56Prohibition orders.
254. 57Prohibition orders: procedure and right to refer to Tribunal.
255. 58Applications relating to prohibitions: procedure and right to refer to Tribunal.
256. Approval
257. 59Approval for particular arrangements.
258. 59ZASenior management functions
259. 59ZBDesignated senior management functions
260. 59ASpecifying functions as controlled functions: supplementary
261. 59ABSpecifying functions as controlled functions: transitional provision
262. 59BRole of FCA in relation to PRA decisions
263. 60Applications for approval.
264. 60AVetting of candidates by ... authorised persons
265. 61Determination of applications.
266. 62Applications for approval: procedure and right to refer to Tribunal.
267. 62AChanges in responsibilities of senior managers
268. 63Withdrawal of approval.
269. 63ZAVariation of senior manager's approval at request of ... authorised person
270. 63ZBVariation of senior manager's approval on initiative of regulator
271. 63ZCExercise of power under section 63ZB: procedure
272. 63ZDStatement of policy relating to conditional approval and variation
273. 63ZEStatement of policy: procedure
274. Performance of controlled functions without approval
275. 63APower to impose penalties
276. 63BProcedure and right to refer to Tribunal
277. 63CStatement of policy
278. 63DStatement of policy: procedure
279. Certification of employees
280. 63ECertification of employees by ... authorised persons
281. 63FIssuing of certificates
282. ...
283. 64Conduct: statements and codes. Repealed
284. 65Statements and codes: procedure. Repealed
285. Conduct of approved persons and others
286. 64ARules of conduct
287. 64BRules of conduct: responsibilities of ... authorised persons
288. 64CRequirement for ... authorised persons to notify regulator of disciplinary action
289. 66Disciplinary powers.
290. 66AMisconduct: action by the FCA
291. 66BMisconduct: action by the PRA
292. 67Disciplinary measures: procedure and right to refer to Tribunal.
293. 68Publication.
294. 69Statement of policy.
295. 70Statements of policy: procedure.
296. Breach of statutory duty
297. 71Actions for damages.
298. “Relevant authorised person”
299. 71AMeaning of “relevant authorised person” Repealed
300. Removal of directors and senior executives and appointment of temporary manager
301. 71BRemoval of directors and senior executives
302. 71CTemporary manager
303. 71DSections 71B and 71C: conditions
304. 71ETemporary manager: further provisions in relation to the appointment
305. 71FTemporary manager: instrument of appointment
306. 71GRight to refer matters to the Tribunal
307. 71HRemoval of directors and senior executives and appointment of temporary manager: procedure
308. 71ISections 71B to 71H: interpretation
309. Part 5A: Designated activities
310. Chapter 1: GENERAL PROVISIONS
311. 71KDesignated activities
312. 71LRestrictions on carrying on of designated activities
313. 71MDesignated activity regulations: general
314. 71NDesignated activities: rules
315. 71ODesignated activities: directions
316. 71PDesignated activities: liability
317. 71QDesignated activities: enforcement
318. 71RDesignated activities and rules: connected amendments
319. 71SDesignated activities regulations: Parliamentary control
320. Chapter 2: PROVISIONS RELATING TO PARTICULAR DESIGNATED ACTIVITIES
321. “Relevant designated activity” and “relevant Part 5A requirement”
322. 71TMeaning of “relevant designated activity” and “relevant Part 5A requirement”
323. Procedure relating to relevant Part 5A directions
324. 71UMeaning of “relevant Part 5A direction” for purposes of this Chapter
325. 71VProcedure for giving, varying or revoking relevant Part 5A direction
326. 71WApplication for variation or revocation of relevant Part 5A direction
327. 71XDetermination of application under section 71W
328. 71YRelevant Part 5A direction: right to refer to Tribunal
329. Part VI: Official Listing
330. ...
331. 72The competent authority. Repealed
332. 73General duty of the competent authority. Repealed
333. Rules
334. 73APart 6 Rules
335. The official list
336. 74The official list.
337. Listing
338. 75Applications for listing.
339. 76Decision on application.
340. 77Discontinuance and suspension of listing.
341. 78Discontinuance or suspension: procedure.
342. 78ADiscontinuance or suspension at the request of the issuer: procedure
343. Listing particulars
344. 79Listing particulars and other documents.
345. 80General duty of disclosure in listing particulars.
346. 81Supplementary listing particulars.
347. 82Exemptions from disclosure.
348. 83Registration of listing particulars. Repealed
349. Contravention of prohibition relating to public offer of securities
350. 84Matters which may be dealt with by prospectus rules Repealed
351. 85Contravention of prohibition relating to public offer of securities
352. 86Exempt offers to the public and admissions to trading Repealed
353. 87Election to have prospectus Repealed
354. Approval of prospectus
355. 87ACriteria for approval of prospectus by FCA Repealed
356. 87BExemptions from disclosure Repealed
357. 87CConsideration of application for approval Repealed
358. 87DProcedure for decision to refuse an application for approval Repealed
359. Transfer of application for approval of a prospectus
360. 87ETransfer by FCA of application for approval Repealed
361. 87FTransfer to FCA of application for approval Repealed
362. Final terms
363. 87FAFinal terms Repealed
364. 87FBCommunication of final terms by FCA Repealed
365. Supplementary prospectus
366. 87GSupplementary prospectus Repealed
367. Passporting
368. 87HProspectus approved in another EEA State Repealed
369. 87IProvision of information to host Member State Repealed
370. Transferable securities: powers of FCA
371. 87JRequirements imposed as condition of approval Repealed
372. 87JAPower to suspend scrutiny of prospectus Repealed
373. 87JBPower to refuse approval of a prospectus Repealed
374. 87KPower to suspend , restrict or prohibit offer to the public Repealed
375. 87LPower to suspend , restrict or prohibit admission to trading on a regulated market Repealed
376. 87LAPower of FCA to suspend or prohibit trading on a trading facility Repealed
377. 87MPublic censure of issuer Repealed
378. 87NRight to refer matters to the Tribunal Repealed
379. 87OProcedure under sections 87JA, 87K, 87L and 87LA Repealed
380. 87PExercise of powers at request of competent authority of another EEA State Repealed
381. Rights of investors
382. 87QRight of investor to withdraw Repealed
383. Registered investors
384. 87RRegister of investors Repealed
385. Sponsors
386. 88Sponsors.
387. 89Public censure of sponsor. Repealed
388. 88ADisciplinary powers: contravention of s.88(3)(c) or (e)
389. 88BAction under s.88A: procedure and right to refer to Tribunal
390. 88CAction under s.88A: statement of policy
391. 88DStatement of policy under s.88C: procedure
392. 88EPowers exercisable to advance operational objectives
393. 88FAction under s.88E: procedure
394. Transparency obligations
395. 89ATransparency rules
396. 89BProvision of voteholder information
397. 89CProvision of information by issuers of transferable securities
398. 89DNotification of voting rights held by issuer
399. 89ENotification of proposed amendment of issuer's constitution Repealed
400. 89FTransparency rules: interpretation etc
401. 89GTransparency rules: other supplementary provisions
402. Power of FCA to call for information
403. 89HFCA's power to call for information
404. 89IRequirements in connection with call for information
405. 89JPower to call for information: supplementary provisions
406. Powers exercisable in case of infringement of transparency obligation
407. 89KPublic censure of issuer
408. 89LPower to suspend or prohibit trading of securities
409. 89MProcedure under section 89L
410. 89NRight to refer matters to the Tribunal
411. 89NAVoting rights suspension orders
412. Corporate governance
413. 89OCorporate governance rules
414. Primary information providers
415. 89PPrimary information providers
416. 89QDisciplinary powers: contravention of s.89P(4)(b) or (d)
417. 89RAction under s.89Q: procedure and right to refer to Tribunal
418. 89SAction under s.89Q: statement of policy
419. 89TStatement of policy under s.89S: procedure
420. 89UPowers exercisable to advance operational objectives
421. 89VAction under s.89U: procedure
422. 89WStorage of regulated information
423. Compensation for false or misleading statements etc
424. 90Compensation for statements in listing particulars ...
425. 90ZALiability for key investor information
426. 90ALiability of issuers in connection with published information
427. 90BPower to make further provision about liability for published information
428. Penalties
429. 91Penalties for breach of Part 6 rules
430. 92Procedure.
431. 93Statement of policy.
432. 94Statements of policy: procedure.
433. Competition
434. 95Competition scrutiny. Repealed
435. Miscellaneous
436. 96Obligations of issuers of listed securities.
437. 96ADisclosure of information requirements Repealed
438. 96BDisclosure rules: persons responsible for compliance Repealed
439. 96CSuspension of trading Repealed
440. 97Appointment by FCA of persons to carry out investigations.
441. 97AReporting of infringements Repealed
442. 98Advertisements etc. in connection with listing applications. Repealed
443. 99Fees. Repealed
444. 100Penalties. Repealed
445. 100AExercise of powers where UK is host member state Repealed
446. 101Listing rules: general provisions.
447. 102Exemption from liability in damages. Repealed
448. Interpretative provisions
449. 102AMeaning of “securities” etc.
450. 102BMeaning of “offer of transferable securities to the public” etc. Repealed
451. 102CMeaning of “home State” in relation to transferable securities Repealed
452. 103Interpretation of this Part
453. Part VII: Control of Business Transfers
454. 103AMeaning of “the appropriate regulator”
455. 104Control of business transfers.
456. 105Insurance business transfer schemes.
457. 106Banking business transfer schemes.
458. 106AReclaim fund business transfer scheme
459. 106BRing-fencing transfer scheme
460. 107Application for order sanctioning transfer scheme.
461. 108Requirements on applicants.
462. 109Scheme reports: insurance business transfer schemes
463. 109AScheme reports: ring-fencing transfer schemes
464. 110Right to participate in proceedings.
465. 111Sanction of the court for business transfer schemes.
466. 112Effect of order sanctioning business transfer scheme.
467. 112ZADuty of regulator to provide copy of order
468. 112ARights to terminate etc.
469. 113Appointment of actuary in relation to reduction of benefits.
470. 114Rights of certain policyholders. Repealed
471. 114ANotice of transfer of reinsurance contracts Repealed
472. Business transfers outside the United Kingdom
473. 115Certificates for purposes of insurance business transfers overseas.
474. 116Effect of insurance business transfers authorised in other EEA States. Repealed
475. Modifications
476. 117Power to modify this Part.
477. Part 7A: Unilateral changes to pension schemes
478. 117APension schemes to which this Part applies
479. 117BUnilateral changes
480. 117CEffect of transfer of pension pot on membership of scheme etc
481. 117DBest interests test
482. 117ECertification by independent person
483. 117FUnilateral change notice
484. 117GFurther duties to make FCA general rules
485. 117HTreasury regulations
486. 117IInterpretation of Part
487. Part VIII: Provisions relating to market abuse
488. ...
489. 118Market abuse. Repealed
490. 118ASupplementary provision about certain behaviour Repealed
491. 118BInsiders Repealed
492. 118CInside information Repealed
493. ...
494. 119The code. Repealed
495. 120Provisions included in the FCA's code by reference to the City Code. Repealed
496. 121Codes: procedure. Repealed
497. 122Effect of the code. Repealed
498. Powers to require information and supplemental provisions
499. 122APower to require information from issuers
500. 122BGeneral power to require information
501. 122CPower to require information: supplementary
502. 122DEntry of premises under warrant
503. 122ERetention of documents taken under section 122D
504. 122FOffences
505. Other administrative powers
506. 122GPublication of information and corrective statements by issuers
507. 122HPublication of corrective statements generally
508. 122HAPublication of corrective statements relating to benchmarks
509. 122IPower to suspend trading in financial instruments
510. 122IAPower to suspend auctioning of auctioned products on a recognised auction platform
511. Administrative sanctions
512. 123Power to impose penalties or issue censure
513. 123APower to prohibit individuals from managing or dealing
514. 123BSuspending permission to carry on regulated activities etc
515. 123CExercise of administrative sanctions
516. Statement of policy
517. 124Statement of policy.
518. 125Statement of policy: procedure.
519. Procedure
520. 126Warning notices.
521. 127Decision notices and right to refer to Tribunal.
522. 127AConsultation with the PRA in relation to administrative sanctions
523. Miscellaneous
524. 128Suspension of investigations.
525. 129Power of court to impose administrative sanctions in cases of market abuse
526. 130Guidance.
527. 130AInterpretation and supplementary provision Repealed
528. 131Effect on transactions.
529. 131AProtected Disclosures
530. 131AAReporting of infringements
531. 131ABInterpretation
532. 131ACMeaning of “persons closely associated” in the market abuse regulation
533. 131ADIndividual liability in respect of legal persons under Articles 8 and 12 of the market abuse regulation
534. 131AELiability for contraventions of Article 14 or 15 of the market abuse regulation
535. Part 8A: Short selling Repealed
536. Short selling rules Repealed
537. 131BShort selling rules Repealed
538. 131CShort selling rules: definitions etc Repealed
539. 131DShort selling rules: procedure in urgent cases Repealed
540. Power to require information Repealed
541. 131EPower to require information Repealed
542. 131FPower to require information: supplementary Repealed
543. 131FAInvestigations in support of overseas regulator Repealed
544. 131FBEntry of premises under warrant Repealed
545. 131FCRetention of documents taken under section 131FB Repealed
546. Breach of short selling regulation etc Repealed
547. 131GPower to impose penalty or issue censure Repealed
548. 131HProcedure and right to refer to Tribunal Repealed
549. 131IDuty on publication of statement Repealed
550. 131JImposition of penalties under section 131G: statement of policy Repealed
551. 131KStatement of policy: procedure Repealed
552. 131LOffences Repealed
553. Part 8B: Cash access services
554. Introductory
555. 131MOverview
556. 131NCash access services and coordination arrangements
557. 131OCurrent accounts and relevant current account providers
558. Cash access policy statement
559. 131PCash access policy statement
560. 131QProvision of reports to assist the Treasury
561. Designation
562. 131RDesignation
563. 131SDesignation criteria
564. 131TCancellation or variation of a designation notice
565. Supervision of designated persons
566. 131UPurpose for which FCA must exercise functions under this Part
567. 131VFCA rules
568. 131WPower to direct designated persons
569. 131XProcedure for directions
570. 131YInformation gathering and investigations
571. 131ZDisciplinary measures
572. 131Z1Costs of supervision
573. 131Z2Exclusion and modification of other FCA duties
574. Part IX: Hearings and Appeals
575. 132The Financial Services and Markets Tribunal. Repealed
576. 133Proceedings before Tribunal: general provision
577. 133AProceedings before Tribunal: decision and supervisory notices, etc.
578. 133BOffences
579. Legal assistance before the Tribunal
580. 134Legal assistance scheme.
581. 135Provisions of the legal assistance scheme.
582. 136Funding of the legal assistance scheme.
584. 137Appeal on a point of law. Repealed
585. Part 9A: Rules and Guidance
586. Chapter 1: Rule-making powers
587. General rule-making powers of the FCA and the PRA
588. 137AThe FCA's general rules
589. 137AAThe FCA's general rules: Gibraltar
590. 137BFCA general rules: clients' money, right to rescind etc.
591. 137CFCA general rules: cost of credit and duration of credit agreements
592. 137DFCA general rules: product intervention
593. 137EOrders under s.137D(1)(b)
594. 137FRules requiring participation in benchmark
595. 137FAFCA general rules: disclosure of information about pension scheme transaction costs etc
596. 137FAAFCA general rules: pensions dashboards
597. 137FABPensions dashboards: further provision
598. 137FACSections 137FAA and 137FAB: supplementary
599. 137FBFCA general rules: disclosure of information about the availability of pensions guidance
600. 137FBAFCA general rules: advice about transferring or otherwise dealing with annuity payments
601. 137FBBFCA general rules: early exit pension charges
602. 137FBCFCA general rules: regulation of consolidator pension schemes
603. 137FCFCA rules: disclosure of information about the availability of financial guidance
604. 137GThe PRA's general rules
605. 137GAThe PRA's general rules: Gibraltar
606. 137HGeneral rules about remuneration
607. 137IRemuneration policies: Treasury direction to consider compliance
608. 137JRules about recovery plans: duty to consult
609. 137KRules about resolution packs: duty to consult
610. 137LInterpretation of sections 137J and 137K
611. 137MSpecial provision relating to adequacy of resolution plans Repealed
612. 137NRecovery plans and resolution packs: restriction on duty of confidence
613. Specific rule-making powers
614. 137OThreshold condition code
615. 137PControl of information rules
616. 137QPrice stabilising rules
617. 137RFinancial promotion rules
618. 137SFinancial promotion rules: directions given by FCA
619. 137SARules to recover expenses relating to the Money and Pensions Service
620. 137SBRules to recover debt advice expenses incurred by the devolved authorities
621. Supplementary powers
622. 137TGeneral supplementary powers
623. Chapter 2: Rules: modification, waiver, contravention and procedural provisions
624. Modification or waiver of rules
625. 138AModification or waiver of rules
626. 138BPublication of directions under section 138A
627. 138BADisapplication or modification of rules in individual cases
628. Contravention of rules
629. 138CEvidential provisions
630. 138DActions for damages
631. 138ELimits on effect of contravening rules
632. Procedural provisions
633. 138EAMatters to consider when making rules
634. 138FNotification of rules
635. 138GRule-making instruments
636. 138HVerification of rules
637. 138IConsultation by the FCA
638. 138IAFCA Cost Benefit Analysis Panel
639. 138IBStatement of policy in relation to cost benefit analyses
640. 138JConsultation by the PRA
641. 138JAPRA Cost Benefit Analysis Panel
642. 138JBStatement of policy in relation to cost benefit analyses
643. 138KConsultation: mutual societies
644. 138LConsultation: general exemptions
645. 138MConsultation: exemptions for temporary product intervention rules
646. 138NTemporary product intervention rules: statement of policy
647. 138OStatement of policy under section 138N: procedure
648. Chapter 2A: Technical Standards
649. 138PTechnical standards
650. 138QStandards instruments
651. 138RTreasury approval
652. 138SApplication of Chapters 1 and 2
653. Chapter 3: Guidance
654. 139APower of the FCA to give guidance
655. 139BNotification of FCA guidance to the Treasury
656. Chapter 4: Competition scrutiny
657. 140AInterpretation
658. 140BAdvice about effect of regulating provision or practice
659. 140CConsultation with regulator
660. 140DInvestigation powers of CMA
661. 140EPublication by CMA of section 140B advice
662. 140FDuty of CMA to send report to regulator
663. 140GDuty of regulator to publish response
664. 140HRole of the Treasury
665. Chapter 5: Power to make consequential amendments
666. 141APower to make consequential amendments of references to rules etc.
667. 141BPower to consequentially amend enactments
668. Part 9B: Ring-fencing
669. Introductory
670. 142A“Ring-fenced body”
671. 142BCore activities
672. 142CCore services
673. 142DExcluded activities
674. 142EPower of Treasury to impose prohibitions
675. 142FOrders under section 142A, 142B, 142D or 142E
676. Ring-fenced bodies not to carry on excluded activities or contravene prohibitions
677. 142GRing-fenced bodies not to carry on excluded activities or contravene prohibitions
678. Ring-fencing rules
679. 142HRing-fencing rules
680. 142IPowers of Treasury in relation to ring-fencing rules
681. 142JReview of ring-fencing rules etc
682. Group restructuring powers
683. 142KCases in which group restructuring powers become exercisable
684. 142LGroup restructuring powers
685. 142MProcedure: preliminary notices
686. 142NProcedure: warning notice and decision notice
687. 142OReferences to Tribunal
688. 142PSubsequent variation of requirement or direction
689. 142QConsultation etc. between regulators
690. 142RRelationship with regulators' powers under Parts 4A and 12A
691. Failure of parent undertaking to comply with direction
692. 142SPower to impose penalty or issue censure
693. 142TProcedure and right to refer to Tribunal
694. 142UDuty on publication of statement
695. 142VImposition of penalties under section 142S: statement of policy
696. Pension liabilities
697. 142WPension liabilities
698. 142XFurther interpretative provisions for section 142W
699. Loss-absorbency requirements
700. 142YPower of Treasury in relation to loss-absorbency requirements
701. General
702. 142ZAffirmative procedure in relation to certain orders under Part 9B
703. 142Z1Interpretation of Part 9B
704. Part 9C: Prudential regulation of FCA investment firms
705. Interpretation
706. 143AFCA investment firms
707. 143BOther terms used in this Part
708. Rules
709. 143CDuty to make rules applying to FCA investment firms
710. 143DDuty to make rules applying to parent undertakings
711. 143EPowers to make rules applying to parent undertakings
712. 143FPart 9C rules
713. 143GMatters to consider when making Part 9C rules
714. 143HExplanation to accompany consultation on rules
715. 143IExceptions from sections 143G and 143H
716. Requirement to have UK parent undertaking
717. 143JRequirement to have UK parent undertaking
718. Imposition of requirements on non-authorised parent undertakings
719. 143KImposition of requirements on non-authorised parent undertakings
720. 143LApplications under section 143K
721. 143MDetermination of applications under section 143K
722. 143NRefusal of applications under section 143K
723. 143OExercise of own-initiative power under section 143K
724. 143PRight to refer matters to the Tribunal
725. 143QAssets requirements
726. Control of managers etc of non-authorised parent undertakings
727. 143RManagers of non-authorised parent undertakings
728. 143SPart 9C prohibition orders
729. 143TProcedure for making a Part 9C prohibition order
730. 143UVarying and withdrawing a Part 9C prohibition order
731. 143VOffence of breaching a Part 9C prohibition order
732. Disciplinary measures for non-authorised parent undertakings
733. 143WDisciplinary measures
734. 143XProcedure for disciplinary measures
735. 143YStatement of policy for penalties under section 143W
736. 143ZProcedure for statement of policy
737. Part 9D: Prudential regulation of credit institutions etc
738. Interpretation
739. 144ACRR rules
740. 144BTerms used in this Part
741. Making CRR rules
742. 144CMatters to consider when making CRR rules
743. 144DExplanation to accompany consultation on CRR rules
744. 144EExceptions from sections 144C and 144D etc
745. 144FPower to consequentially amend enactments Repealed
746. Content of CRR rules
747. 144GDisapplication or modification of CRR rules in individual cases
748. 144HRelationship with the capital requirements regulation
749. Part X: Rules and Guidance
750. Chapter I: Rule-making Powers Repealed
751. 138General rule-making power. Repealed
752. 139Miscellaneous ancillary matters. Repealed
753. 139AGeneral rules about remuneration Repealed
754. 139BRules about recovery plans Repealed
755. 139CRules about resolution plans Repealed
756. 139DSections 139B and 139C: interpretation Repealed
757. 139ERules about recovery and resolution plans: supplementary provision Repealed
758. 139FSpecial provision in relation to resolution plans Repealed
759. 140Restriction on managers of certain collective investment schemes. Repealed
760. 141Insurance business rules. Repealed
761. 142Insurance business: regulations supplementing Authority’s rules. Repealed
762. 143Endorsement of codes etc. Repealed
763. Specific rules Repealed
764. 144Price stabilising rules. Repealed
765. 145Financial promotion rules. Repealed
766. 146Money laundering rules. Repealed
767. 147Control of information rules. Repealed
768. Modification or waiver Repealed
769. 148Modification or waiver of rules. Repealed
770. Contravention of rules Repealed
771. 149Evidential provisions. Repealed
772. 150Actions for damages. Repealed
773. 151Limits on effect of contravening rules. Repealed
774. Procedural provisions Repealed
775. 152Notification of rules to the Treasury. Repealed
776. 153Rule-making instruments. Repealed
777. 154Verification of rules. Repealed
778. 155Consultation. Repealed
779. 156General supplementary powers. Repealed
780. Chapter II: Guidance Repealed
781. 157Guidance. Repealed
782. 158Notification of guidance to the Treasury. Repealed
783. 158AGuidance on outsourcing by investment firms and credit institutions Repealed
784. Chapter III: Competition Scrutiny Repealed
785. 159Interpretation. Repealed
786. 160Reports by OFT. Repealed
787. 161Power of OFT to request information. Repealed
788. 162Consideration by Competition Commission. Repealed
789. 163Role of the Treasury. Repealed
790. 164The Competition Act 1998. Repealed
791. Part XI: Information Gathering and Investigations
792. Powers to gather information
793. 165Regulators power to require information : authorised persons etc.
794. 165APRA's power to require information: financial stability
795. 165BSafeguards etc in relation to exercise of power under section 165A
796. 165COrders under section 165A(2)(d)
797. 166Reports by skilled persons.
798. 166AAppointment of skilled person to collect and update information
799. Appointment of investigators
800. 167Appointment of persons to carry out general investigations.
801. 168Appointment of persons to carry out investigations in particular cases.
802. Assistance to overseas regulators
803. 169Investigations etc. in support of overseas regulator.
804. 169ASupport of overseas regulator with respect to financial stability
805. Conduct of investigations
806. 170Investigations: general.
807. 171Powers of persons appointed under section 167.
808. 172Additional power of persons appointed as a result of section 168(1) , (4) or (4B).
809. 173Powers of persons appointed as a result of section 168(2).
810. 174Admissibility of statements made to investigators.
811. 175Information and documents: supplemental provisions.
812. 176Entry of premises under warrant.
813. 176ARetention of documents taken under section 176
814. Offences
815. 177Offences.
816. Interpretation
817. 177AInterpretation of Part 11
818. Part XII: Control Over Authorised Persons
819. Notices of acquisitions of control over UK authorised persons
820. 178Obligation to notify the appropriate regulator: acquisitions of control
821. 179Requirements for section 178 notices
822. 180Acknowledgment of receipt
823. Acquiring control and other changes of holding
824. 181Acquiring control
825. 182Increasing control
826. 183Reducing or ceasing to have control
827. 184Disregarded holdings
828. Assessment procedure
829. 185Assessment: general
830. 186Assessment criteria
831. 187Approval with conditions
832. 187AAssessment: consultation by PRA with FCA
833. 187BAssessment: consultation by FCA with PRA
834. 187CVariation etc of conditions
835. 188Assessment: consultation with EC competent authorities Repealed
836. 189Assessment: Procedure
837. 190Requests for further information
838. 190AAssessment and resolution
839. 191Duration of approval
840. Enforcement procedures
841. 191AObjection by the appropriate regulator
842. 191BRestriction notices
843. 191COrders for sale of shares
844. Notice of reductions of control of UK authorised persons
845. 191DObligation to notify the appropriate regulator: dispositions of control
846. 191ERequirements for notices under section 191D
847. Offences
848. 191FOffences under this Part
849. Interpretation
850. 191GInterpretation
851. Miscellaneous
852. 192Power to change definitions of control etc.
853. Part 12A: Powers exercisable in relation to parent undertakings
854. Introductory
855. 192AMeaning of “qualifying authorised person”
856. 192BMeaning of “qualifying parent undertaking”
857. Power of direction
858. 192CPower to direct qualifying parent undertaking
859. 192DRequirements that may be imposed
860. 192EDirection: procedure
861. 192FConsultation between regulators
862. 192GReferences to Tribunal
863. 192HStatement of policy: directions under section 192C
864. 192IStatement of policy relating to directions: procedure
865. Rules requiring provision of information by parent undertakings
866. 192JRules requiring provision of information by parent undertakings
867. Rules applying to parent undertakings of ring-fenced bodies
868. 192JARules applying to parent undertakings of ring-fenced bodies
869. Rules requiring parent undertakings to facilitate resolution
870. 192JBRules requiring parent undertakings to facilitate resolution
871. Failure to comply with direction or breach of rules
872. 192KPower to impose penalty or issue censure
873. 192LProcedure and right to refer to Tribunal
874. 192MDuty on publication of statement
875. 192NImposition of penalties under section 192K: statement of policy
876. Part 12B: Approval of certain holding companies
877. Interpretation
878. 192OInterpretation
879. Approval
880. 192PRequirement for approval
881. 192QApplication for approval or exemption
882. 192RGrant of approval
883. 192SRegulator’s duty to monitor
884. 192TMeasures
885. 192UDirections: procedure
886. 192VRules imposing consolidated or sub-consolidated requirements Repealed
887. 192WConsultation between regulators
888. 192XReferences to Tribunal
889. Rules
890. 192XARules applying to holding companies
891. 192XBProcedural provision
892. 192XCDisapplication or modification of rules in individual cases
893. 192YPower to impose penalty or issue censure
894. 192ZProcedure and right to refer to Tribunal
895. 192Z1Duty on publication of statement
896. 192Z2Directions and penalties: statement of policy
897. 192Z3Statement of policy relating to directions: procedure
898. Part XIII: Incoming Firms: Intervention by FCA or PRA
899. Interpretation
900. 193Interpretation of this Part. Repealed
901. 194General grounds on which power of intervention is exercisable. Repealed
902. 194AContravention by relevant EEA firm with UK branch of requirement under markets in financial instruments directive: appropriate regulator primarily responsible for securing compliance Repealed
903. 194BContravention by relevant EEA firm of requirement in capital requirements directive or capital requirements regulation Repealed
904. 194CContravention by relevant EEA firm with UK branch of requirement in mortgages directive: appropriate regulator primarily responsible for securing compliance Repealed
905. 194DContravention by relevant EEA firm of requirement in insurance distribution directive: appropriate regulator primarily responsible for securing compliance Repealed
906. 195Exercise of power in support of overseas regulator.
907. 195AContravention by relevant EEA firm , EEAUCITS or EEAAIFM of directive requirements: home state regulator primarily responsible for securing compliance Repealed
908. 195BContravention by relevant EEA firm of requirement in mortgages directive: home state regulator primarily responsible for securing compliance Repealed
909. 195CContravention by relevant EEA firm of requirement in insurance distribution directive: home state regulator primarily responsible for securing compliance Repealed
910. 196The power of intervention. Repealed
911. Exercise of power of intervention
912. 197Procedure on exercise of power of intervention. Repealed
913. 198Power to apply to court for injunction in respect of certain overseas insurance companies. Repealed
914. 199Additional procedure for EEA firms in certain cases. Repealed
915. 199AManagement companies: loss of authorisation Repealed
916. Supplemental
917. 200Rescission and variation of requirements. Repealed
918. 201Effect of certain requirements on other persons Repealed
919. 202Contravention of requirement imposed under this Part. Repealed
920. Powers of Office of Fair Trading
921. 203Power to prohibit the carrying on of Consumer Credit Act business. Repealed
922. 204Power to restrict the carrying on of Consumer Credit Act business. Repealed
923. Part 13A: Enhanced supervision of firms exercising rights under the Insurance Distribution Directive Repealed
924. 203AInsurance distribution directive: enhanced supervision of EEA firms by UK regulators Repealed
925. 203BInsurance distribution directive: enhanced supervision of UK firms by an EEA regulator Repealed
926. 203CModification or waiver of rules where firm subject to enhanced supervision Repealed
927. 203DPublication of directions under section 203C Repealed
928. Part XIV: Disciplinary Measures
929. 204AMeaning of “relevant requirement” and “appropriate regulator”
930. 205Public censure.
931. 206Financial penalties.
932. 206ASuspending permission to carry on regulated activities etc
933. 206BProhibition or restriction on carrying on of relevant designated activities
934. 207Proposal to take disciplinary measures.
935. 208Decision notice.
936. 208AApplications under section 206B(4): procedure and right to refer to Tribunal
937. 209Publication.
938. 210Statements of policy.
939. 211Statements of policy: procedure.
940. Part XV: The Financial Services Compensation Scheme
941. The scheme manager
942. 212The scheme manager.
943. The scheme
944. 213The compensation scheme.
945. Provisions of the scheme
946. 214General.
947. 214AContingency funding Not yet in force
948. 214BContribution to costs of special resolution regime
949. 214CLimit on amount of special resolution regime payments
950. 214DContributions under section 214B: supplementary
951. 214ERecapitalisation payments
952. 214FRecapitalisation payment: report
953. 214GNotification to Parliamentary Committees
954. 214HReimbursement in respect of a recapitalisation payment
955. 215Rights of the scheme in insolvency
956. 215AContinuity etc. of funeral plan contracts
957. 215BScheme manager’s power to require assistance from liquidator etc. in relation to funeral plan contracts
958. 216Continuity of long-term insurance policies.
959. 217Insurers in financial difficulties.
960. 217ZAInsurers subject to write-down orders
961. 217ZBRecovery of financial assistance under section 217ZA
962. Relationship with the regulators
963. 217ACo-operation
964. Annual plan and report
965. 217BAnnual plan
966. 218Annual report.
967. 218ZAAudit of accounts
968. Information and documents
969. 218ARegulators' power to require information
970. 218BTreasury's power to require information from scheme manager Repealed
971. 219Scheme manager’s power to require information.
972. 220Scheme manager’s power to inspect information held by liquidator etc.
973. 220APower to inspect information held by write-down manager
974. 221Powers of court where information required.
975. Miscellaneous
976. 221ADelegation of functions
977. 222Statutory immunity.
978. 223Management expenses.
979. 223AInvesting in National Loans Fund Not yet in force
980. 223BBorrowing from National Loans Fund
981. 223CPayments in error
982. 224Scheme manager’s power to inspect documents held by Official Receiver etc.
983. 224ZADischarge of functions
984. 224AFunctions under the Banking Act 2009
985. Part 15A: Power to require FSCS manager to act in relation to other schemes
986. Introduction
987. 224BMeaning of “relevant scheme” etc
988. Power to require FSCS manager to act
989. 224CPower to require FSCS manager to act on behalf of manager of relevant scheme
990. 224DCases where FSCS manager may decline to act
991. 224EGrounds for declining to act
992. Rules
993. 224FRules about relevant schemes
994. Part XVI: The Ombudsman Scheme
995. The scheme
996. 225The scheme and the scheme operator.
997. 226Compulsory jurisdiction.
998. 226AConsumer credit jurisdiction Repealed
999. 227Voluntary jurisdiction.
1000. Determination of complaints
1001. 228Determination under the compulsory jurisdiction.
1002. 229Awards.
1003. 230Costs.
1004. 230AReports of determinations
1005. Information
1006. 231Ombudsman’s power to require information.
1007. 232Powers of court where information required.
1008. 232AScheme operator's duty to provide information to FCA
1009. 233Data protection.
1010. Funding
1011. 234Industry funding.
1012. 234AFunding by consumer credit licensees etc. Repealed
1013. Successors to businesses
1014. 234BTransfers of liability
1015. Part 16A: Consumer protection and competition
1016. Super-complaints and references to FCA
1017. 234CComplaints by consumer bodies
1018. 234DReference by scheme operator or regulated person
1019. 234EResponse by FCA
1020. 234FSection 234E: exceptions
1021. 234GGuidance
1022. Competition
1023. 234HPower of FCA to make request to Competition and Markets Authority Repealed
1024. 234IThe FCA's functions under Part 4 of the Enterprise Act 2002
1025. 234JThe FCA's functions under the Competition Act 1998
1026. 234KDuty to consider exercise of powers under Competition Act 1998
1027. 234LProvision of information and assistance to a CMA group
1028. 234MFunction of keeping market under review
1029. 234NExclusion of general duties
1030. 234OSupplementary provision
1031. Part XVII: Collective Investment Schemes
1032. Chapter I: Interpretation
1033. 235Collective investment schemes.
1034. 235AContractual schemes
1035. 236Open-ended investment companies.
1036. 236AMeaning of “UCITS”
1037. 237Other definitions.
1038. Chapter II: Restrictions on Promotion
1039. 238Restrictions on promotion.
1040. 239Single property schemes.
1041. 240Restriction on approval of promotion.
1042. 241Actions for damages.
1043. Chapter 2A: PROHIBITION ON ISSUE OF BEARER UNITS
1044. 241ABearer units no longer to be issued
1045. Chapter III: Authorised Unit Trust Schemes
1046. Applications for authorisation
1047. 242Applications for authorisation of unit trust schemes.
1048. 243Authorisation orders : authorised unit trust schemes.
1049. 243AAuthorisation orders: authorised money market funds
1050. 244Determination of applications.
1051. Applications refused
1052. 245Procedure when refusing an application.
1053. Certificates
1054. 246Certificates.
1055. Rules
1056. 247Trust scheme rules.
1057. 248Scheme particulars rules.
1058. 249Disciplinary measures
1059. 250Modification or waiver of rules.
1060. Alterations
1061. 251Alteration of schemes and changes of manager or trustee.
1062. 252Procedure when refusing approval of a proposal under section 251.
1063. 252AProposal to convert to a non-feeder UCITS
1064. Exclusion clauses
1065. 253Avoidance of exclusion clauses.
1066. Ending of authorisation
1067. 254Revocation of authorisation order otherwise than by consent.
1068. 255Procedure.
1069. 256Requests for revocation of authorisation order.
1070. Powers of intervention
1071. 257Directions.
1072. 258Applications to the court.
1073. 258AWinding up or merger of master UCITS
1074. 259Procedure on giving directions under section 257 or 258A and varying them on FCA's own initiative.
1075. 260Procedure: refusal to revoke or vary direction.
1076. 261Procedure: revocation of direction and grant of request for variation.
1077. 261AInformation for home state regulator Repealed
1078. 261BInformation for feeder UCITS
1079. Chapter 3A: AUTHORISED CONTRACTUAL SCHEMES
1080. Applications for authorisation
1081. 261CApplications for authorisation of contractual schemes
1082. 261DAuthorisation orders : authorised contractual schemes
1083. 261EAuthorised contractual schemes: holding of units
1084. 261EAAuthorisation orders: authorised money market funds
1085. 261FDetermination of applications
1086. Applications refused
1087. 261GProcedure when refusing an application
1088. Certificates
1089. 261HCertificates
1090. Rules
1091. 261IContractual scheme rules
1092. 261JContractual scheme particulars rules
1093. 261KDisciplinary measures
1094. 261LModification or waiver of rules
1095. Co-ownership schemes: rights and liabilities of participants
1096. 261MContracts
1097. 261NEffect of becoming or ceasing to be a participant
1098. 261OLimited liability
1099. 261PSegregated liability in relation to umbrella co-ownership schemes
1100. Alterations
1101. 261QAlteration of contractual schemes and changes of operator or depositary
1102. 261RProcedure when refusing approval of a proposal under section 261Q
1103. 261SProposal to convert to a non-feeder UCITS
1104. Exclusion clauses
1105. 261TAvoidance of exclusion clauses
1106. Ending of authorisation
1107. 261URevocation of authorisation order otherwise than by consent
1108. 261VProcedure for revoking authorisation order
1109. 261WRequests for revocation of authorisation order
1110. Powers of intervention
1111. 261XDirections
1112. 261YApplications to the court
1113. 261ZWinding up or merger of master UCITS
1114. 261Z1Procedure on giving directions under section 261X or 261Z and varying them on FCA’s own initiative
1115. 261Z2Procedure: refusal to revoke or vary direction
1116. 261Z3Procedure: revocation of direction and grant of request for variation
1117. 261Z4Information for home state regulator Repealed
1118. 261Z5Information for feeder UCITS
1119. Chapter 3B: Unauthorised co-ownership AIFs
1120. 261Z6Power to make provision about unauthorised co-ownership AIFs
1121. Chapter IV: Open-ended Investment Companies
1122. Chapter V: Recognised Overseas Schemes
1123. Schemes constituted in other EEA States
1124. 264Schemes constituted in other EEA States. Repealed
1125. 265Representations and references to the Tribunal. Repealed
1126. 266Disapplication of rules. Repealed
1127. 267Power of FCA to suspend promotion of scheme. Repealed
1128. 268Procedure on giving directions under section 267 and varying them on FCA's own initiative. Repealed
1129. 269Procedure on application for variation or revocation of direction. Repealed
1130. ...
1131. 270Schemes authorised in designated countries or territories. Repealed
1132. 271Procedure. Repealed
1133. Schemes authorised in approved countries
1134. 271ASchemes authorised in approved countries
1135. 271BApproval of country: equivalent protection afforded to participants
1136. 271CApproval of country: regulatory co-operation
1137. 271DReport by the FCA in relation to approval
1138. 271EPower to impose requirements on schemes
1139. 271FApplication for recognition to the FCA
1140. 271GDetermination of applications
1141. 271HProcedure when determining an application
1142. 271IObligations on operator of a section 271A scheme
1143. 271JProvision of information to the FCA
1144. 271KRules as to scheme particulars
1145. 271LSuspension of recognition
1146. 271MProcedure when suspending recognition
1147. 271NRevocation of recognition on the FCA's initiative
1148. 271ORequests for revocation of recognition
1149. 271PObligations on operator where recognition is revoked or suspended
1150. 271QEffect of variation or revocation of Treasury regulations
1151. 271RPublic censure
1152. 271SRecognition of parts of schemes under section 271A
1153. Individually recognised overseas schemes
1154. 272Individually recognised overseas schemes.
1155. 273Matters that may be taken into account.
1156. 274Applications for recognition of individual schemes.
1157. 275Determination of applications.
1158. 276Procedure when refusing an application.
1159. 277Alteration of schemes and changes of operator, trustee or depositary.
1160. 277ARegular provision of information relating to compliance with requirements for recognition
1161. ...
1162. 278Rules as to scheme particulars.
1163. 279Revocation of recognition.
1164. 280Procedure.
1165. 281Directions.
1166. 282Procedure on giving directions under section 281 and varying them otherwise than as requested.
1167. 282AObligations on operator where recognition is revoked or suspended
1168. 282BPublic censure
1169. 282CRecognition of parts of schemes under section 272
1170. Facilities and information in UK
1171. 283Facilities and information in UK.
1172. Chapter 5A: MASTER-FEEDER STRUCTURES
1173. 283AMaster-feeder structures
1174. 283BReports on derivative instruments
1175. Chapter VI: Investigations
1176. 284Power to investigate.
1177. Part 17A: Transformer Vehicles
1178. 284ATransformer vehicles
1179. Part XVIII: Recognised investment exchanges, clearing houses , CSDs and other parties
1180. Chapter I: Exemption
1181. General
1182. 285Exemption for recognised bodies etc.
1183. 285APowers exercisable in relation to recognised bodies etc
1184. 286Qualification for recognition.
1185. Applications for recognition
1186. 287Application by an investment exchange.
1187. 287AApplication by an investment exchange: persons connected with an applicant Repealed
1188. 288Application by a clearing house.
1189. 288AApplication by a central securities depository
1190. 289Applications: supplementary.
1191. 290Recognition orders.
1192. 290ZAVariation of central counterparty recognition order
1193. 290ZBVariation of CSD recognition order
1194. 290ARefusal of recognition on ground of excessive regulatory provision
1195. 291Liability in relation to recognised body’s regulatory functions.
1196. 292Overseas investment exchanges and overseas clearing houses.
1197. Publication of information by recognised investment exchange
1198. 292APublication of information by recognised investment exchange
1199. Supervision
1200. 293Notification requirements.
1201. 293AInformation: compliance with specified requirements
1202. 294Modification or waiver of rules.
1203. 295Notification: overseas investment exchanges and overseas clearing houses.
1204. 295AOn-site inspection of United Kingdom branches of third country CSDs
1205. 296Appropriate regulator's power to give directions.
1206. 296AAdditional power to direct recognised central counterparties
1207. 297Revoking recognition.
1208. 298Directions and revocation: procedure.
1209. 299Complaints about recognised bodies.
1210. 300Extension of functions of Tribunal.
1211. Power to disallow excessive regulatory provision
1212. 300APower of appropriate regulator to disallow excessive regulatory provision
1213. 300BDuty to notify proposal to make regulatory provision
1214. 300CRestriction on making provision before appropriate regulator decides whether to act
1215. 300DConsideration by appropriate regulator whether to disallow proposed provision
1216. 300EPower to disallow excessive regulatory provision: supplementary
1217. General rule-making powers
1218. 300FRules relating to central counterparties and central securities depositories
1219. 300GSection 300F: rules in relation to overseas FMI entities
1220. 300HRules relating to investment exchanges and data reporting service providers
1221. Bank of England rules
1222. 300IDuty of Bank of England to review rules
1223. 300JStatement of policy relating to review of rules
1224. 300KRequirement to review specified rules
1225. 300LReport on certain reviews
1226. 300MPower of Treasury to require making of rules by regulations
1227. Other matters
1228. 301Supervision of certain contracts.
1229. Chapter 1A: CONTROL OVER RECOGNISED INVESTMENT EXCHANGE
1230. Notices of acquisitions of control over recognised investment exchanges
1231. 301AObligation to notify the FCA: acquisitions of control
1232. 301BRequirements for section 301A notices
1233. 301CAcknowledgment of receipt
1234. Acquiring and increasing control
1235. 301DAcquiring and increasing control
1236. 301EDisregarded holdings
1237. Assessment procedure
1238. 301FAssessment: general
1239. 301GAssessment: Procedure
1240. 301HDuration of approval
1241. Enforcement procedures
1242. 301IObjections by the FCA
1243. 301JRestriction notices
1244. 301KOrders for sale of shares
1245. Offences
1246. 301LOffences under this Chapter
1247. Interpretation
1248. 301MInterpretation
1249. Chapter II: Competition Scrutiny
1250. 302Interpretation. Repealed
1251. Role of Office of Fair Trading
1252. 303Initial report by OFT. Repealed
1253. 304Further reports by OFT. Repealed
1254. 305Investigations by OFT. Repealed
1255. Role of Competition Commission
1256. 306Consideration by Competition Commission. Repealed
1257. Role of the Treasury
1258. 307Recognition orders: role of the Treasury. Repealed
1259. 308Directions by the Treasury. Repealed
1260. 309Statements by the Treasury. Repealed
1261. 310Procedure on exercise of certain powers by the Treasury. Repealed
1262. Chapter 2A: Performance of functions of recognised bodies
1263. Relevant recognised bodies
1264. 309ARecognised bodies to which this Chapter applies
1265. Prohibition
1266. 309BPart 18 prohibition orders
1267. 309CProcedure for making Part 18 prohibition orders
1268. 309DVarying and withdrawing Part 18 prohibition orders
1269. 309EOffence of breaching prohibition
1270. 309FDuty in relation to prohibited individuals
1271. Approval
1272. 309GRequirement for approval
1273. 309HRules under section 309G(3): transitional provision
1274. 309IApplications for approval
1275. 309JVetting by relevant recognised bodies
1276. 309KDetermining applications: power to grant approval
1277. 309LDetermining applications: period for approval
1278. 309MDetermining applications: further procedure
1279. 309NChanges in responsibilities
1280. 309OWithdrawing approval
1281. 309PProcedure for withdrawing approval
1282. 309QVarying approval at request of relevant recognised body
1283. 309RVarying approval on the appropriate regulator’s initiative
1284. 309SStatement of policy on approval
1285. 309TBreach of statutory duty by relevant recognised bodies
1286. 309UPower to impose penalties
1287. 309VProcedure for imposing penalties
1288. 309WStatement of policy on penalties
1289. 309XProcedure for statement of policy on penalties
1290. Certification of employees
1291. 309YCertification of employees by relevant recognised bodies
1292. 309ZIssuing certificates
1293. Rules of conduct
1294. 309Z1Rules of conduct
1295. Disciplinary action by appropriate regulator
1296. 309Z2Power to take disciplinary action for misconduct
1297. 309Z3Meaning of “misconduct”
1298. 309Z4Procedure for disciplinary action
1299. 309Z5Statement of policy about disciplinary action
1300. 309Z6Procedure for statement of policy about disciplinary action
1301. Interpretation
1302. 309Z7Interpretation of Chapter 2A
1303. Application of this Chapter to credit rating agencies
1304. 309Z8Power to apply this Chapter to credit rating agencies
1305. Chapter III: Exclusion from the Competition Act 1998
1306. 311The Chapter I prohibition. Repealed
1307. 312The Chapter II prohibition. Repealed
1308. Chapter 3A: PASSPORT RIGHTS Repealed
1309. EEA market operators in United Kingdom Repealed
1310. 312AExercise of passport rights by EEA market operator Repealed
1311. 312BRemoval of passport rights from EEA market operator Repealed
1312. Recognised investment exchanges operating in EEA States (other than the United Kingdom) Repealed
1313. 312CExercise of passport rights by recognised investment exchange Repealed
1314. Interpretation Repealed
1315. 312DInterpretation of Chapter 3A Repealed
1316. Chapter 3B: Disciplinary measures in respect of recognised bodies
1317. 312EPublic censure
1318. 312FFinancial penalties
1319. 312FACentral securities depositories: further disciplinary measures
1320. 312GProposal to take disciplinary measures
1321. 312HDecision notice
1322. 312IPublication
1323. 312JStatement of policy
1324. 312KStatement of policy: procedure
1325. Chapter 3C: Critical third parties
1326. 312LCritical third parties
1327. 312MPower to make rules
1328. 312NPower of direction
1329. 312ODirections: procedure
1330. 312PInformation gathering and investigations
1331. 312QPower of censure
1332. 312RDisciplinary measures
1333. 312SProcedure and right to refer to Tribunal
1334. 312TStatement of policy relating to disciplinary measures
1335. 312UDuty to ensure co-ordinated exercise of functions etc
1336. 312VMemorandum of understanding
1337. 312WApplication of provisions of this Act to this Chapter
1338. Chapter IV
1339. Interpretation
1340. 313Interpretation of Part XVIII.
1341. Part 18A: SUSPENSION AND REMOVAL OF FINANCIAL INSTRUMENTS FROM TRADING
1342. 313AFCA's power to require suspension or removal of financial instruments from trading
1343. 313BSuspension or removal of financial instruments from trading: procedure
1344. 313BAProcedure following consideration of representations
1345. 313BBRevocation of requirements: applications by institutions
1346. 313BCDecisions on applications for revocation by institutions
1347. 313BDRevocation of requirements: applications by issuers
1348. 313BEDecisions on applications for revocation by issuers
1349. 313CNotification in relation to suspension or removal of a financial instrument from trading Repealed
1350. 313CASuspension or removal of financial instruments from trading: notification and trading on other venues
1351. 313CBSuspension or removal of a financial instrument from a trading by a trading venue: FCA duties
1352. 313CBASignificant damage to investors’ interests or orderly functioning of market
1353. 313CCSuspension or removal of a financial instrument from trading in another EEA state: FCA duties Repealed
1354. 313DInterpretation of Part 18A
1355. Part XIX: Lloyd’s
1356. General
1357. 314Regulators' general duty.
1358. 314AThe PRA's objectives in relation to Lloyd's etc
1359. The Society
1360. 315The Society: regulated activities
1361. Power to apply Act to Lloyd’s underwriting
1362. 316Direction by a regulator
1363. 317The core provisions.
1364. 318Exercise of powers through Council.
1365. 319Consultation.
1366. Former underwriting members
1367. 320Former underwriting members.
1368. 321Requirements imposed under section 320.
1369. 322Rules applicable to former underwriting members.
1370. Transfers of business done at Lloyd’s
1371. 323Transfer schemes.
1372. Supplemental
1373. 324Interpretation of this Part.
1374. Part XX: Provision of Financial Services by Members of the Professions
1375. 325FCA's general duty.
1376. 326Designation of professional bodies.
1377. 327Exemption from the general prohibition.
1378. 328Directions in relation to the general prohibition.
1379. 329Orders in relation to the general prohibition.
1380. 330Consultation.
1381. 331Procedure on making or varying orders under section 329.
1382. 332Rules in relation to persons to whom the general prohibition does not apply.
1383. 333False claims to be a person to whom the general prohibition does not apply.
1384. Part 20A: PENSIONS GUIDANCE Repealed
1385. 333AIntroduction and definitions Repealed
1386. Giving of pensions guidance Repealed
1387. 333BSecretary of State’s role in relation to pensions guidance Repealed
1388. 333CGiving of pensions guidance Repealed
1389. 333DFinancial assistance to bodies involved in giving pensions guidance Repealed
1390. Designation of guidance providers Repealed
1391. 333EDesignation of providers of pensions guidance Repealed
1392. Co-operation and information sharing Repealed
1393. 333FCo-operation and information sharing Repealed
1394. False claims when giving pensions guidance Repealed
1395. 333GOffence of falsely claiming to be giving pensions guidance under arrangements made with Secretary of State Repealed
1396. Standards for giving of pensions guidance by designated guidance providers Repealed
1397. 333HStandards for giving of pensions guidance by designated guidance providers Repealed
1398. 333IMonitoring of compliance with standards by designated guidance providers Repealed
1399. 333JFailure by designated guidance providers to comply with standards: FCA recommendations Repealed
1400. 333KFCA policy on making recommendations under section 333J Repealed
1401. 333LFCA policy on making recommendations under section 333J: procedure Repealed
1402. 333MFailure by designated guidance providers to comply with standards: ... directions Repealed
1403. 333NDirections to designated guidance providers under section 333M: relationship with power to revoke a designation Repealed
1404. FCA's duties and power to give guidance Repealed
1405. 333OFCA's duties Repealed
1406. 333PPower of the FCA to give guidance Repealed
1407. Funding of pensions guidance Repealed
1408. 333QFunding of FCA's pensions guidance costs Repealed
1409. 333RFunding of Secretary of State’s pensions guidance costs Repealed
1410. Part 20B: Illegal Money Lending
1411. 333SFinancial assistance for action against illegal money lending
1412. 333TFunding of action against illegal money lending
1413. Part XXI: Mutual Societies
1414. Friendly societies
1415. 334The Friendly Societies Commission.
1416. 335The Registry of Friendly Societies. Repealed
1417. Building societies
1418. 336The Building Societies Commission. Repealed
1419. 337The Building Societies Investor Protection Board. Repealed
1420. Industrial and provident societies and credit unions
1421. 338Industrial and provident societies and credit unions. Repealed
1422. Supplemental
1423. 339Supplemental provisions. Repealed
1424. Part XXII: Auditors and Actuaries
1425. General duties of regulator
1426. 339AGeneral duties of PRA in relation to auditors
1427. 339BDuty to meet auditors of certain institutions
1428. 339CPRA-authorised persons to which this section applies
1429. Appointment
1430. 340Appointment.
1431. Information
1432. 341Access to books etc.
1433. 342Information given by auditor or actuary to a regulator.
1434. 343Information given by auditor or actuary to a regulator: persons with close links.
1435. 344Duty of auditor or actuary resigning etc. to give notice.
1436. Disciplinary measures
1437. 345Disciplinary measures: FCA
1438. 345ADisciplinary measures: PRA
1439. 345BProcedure and right to refer to Tribunal
1440. 345CDuty on publication of statement
1441. 345DImposition of penalties on auditors or actuaries: statement of policy
1442. 345EStatements of policy: procedure
1443. Offence
1444. 346Provision of false or misleading information to auditor or actuary.
1445. Part XXIII: Public Record, Disclosure of Information and Co-operation
1446. The public record
1447. 347The record of authorised persons etc.
1448. 347ADuty of PRA to disclose information relevant to the record
1449. Disclosure of information
1450. 348Restrictions on disclosure of confidential information by FCA, PRA etc.
1451. 349Exceptions from section 348.
1452. 350Disclosure of information by the Inland Revenue.
1453. 351Competition information. Repealed
1454. 351ADisclosure under the UCITS directive
1455. 352Offences.
1456. 353Removal of other restrictions on disclosure.
1457. Information received from Bank of England
1458. 353AInformation received from Bank of England
1459. Co-operation
1460. 354Authority’s duty to co-operate with others. Repealed
1461. 354AFCA's duty to co-operate with others
1462. 354BPRA's duty to co-operate with others
1463. 354CPRA's duty to provide information to Bank of England Repealed
1464. Provision of information to ESMA, the Commission and other EEA States
1465. 354DInformation under the markets in financial instruments directive Repealed
1466. 354ECompetent authorities under the markets in financial instruments directive: designation and co-operation Repealed
1467. 354FInformation under the transparency obligations directive Repealed
1468. 354GInformation under the UCITS directive Repealed
1469. 354HInformation under the Insurance Distribution Directive Repealed
1470. Part XXIV: Insolvency
1471. Interpretation
1472. 355Interpretation of this Part.
1473. Arrangements and reconstructions: companies in financial difficulty
1474. 355APowers of FCA and PRA to participate in proceedings
1475. 355BEnforcement of requirements imposed by section 355A
1476. Voluntary arrangements
1477. 356Powers of FCA and PRA to participate in proceedings: company voluntary arrangements.
1478. 357Powers of FCA and PRA to participate in proceedings: individual voluntary arrangements.
1479. 358Powers of FCA and PRA to participate in proceedings: trust deeds for creditors in Scotland.
1480. Administration orders
1481. 359Administration order
1482. 360Insurers.
1483. 361Administrator’s duty to report to FCA and PRA
1484. 362Powers of FCA and PRA to participate in proceedings.
1485. 362AAdministrator appointed by company or directors
1486. Receivership
1487. 363Powers of FCA and PRA to participate in proceedings.
1488. 364Receiver’s duty to report to FCA and PRA
1489. Voluntary winding up
1490. 365Powers of FCA and PRA to participate in proceedings.
1491. 366Insurers effecting or carrying out long-term contracts or insurance.
1492. Winding up by the court
1493. 367Winding-up petitions.
1494. 368Winding-up petitions: EEA and Treaty firms. Repealed
1495. 369Insurers: service of petition etc. on FCA and PRA.
1496. 369AReclaim funds: service of petition etc on FCA and PRA
1497. 370Liquidator's duty to report to FCA and PRA
1498. 371Powers of FCA and PRA to participate in proceedings.
1499. Bankruptcy
1500. 372Petitions.
1501. 373Insolvency practitioner’s duty to report to FCA and PRA.
1502. 374Powers of FCA or PRA to participate in proceedings.
1503. Provisions against debt avoidance
1504. 375Right of FCA and PRA to apply for an order.
1505. Supplemental provisions concerning insurers
1506. 376Continuation of contracts of long-term insurance where insurer in liquidation.
1507. 377Reducing the value of contracts instead of winding up. Repealed
1508. 377AWrite-down orders
1509. 377BExcluded liabilities
1510. 377CApplication for a write-down order
1511. 377DPowers of the FCA and PRA to participate in proceedings
1512. 377EPowers of the court
1513. 377FDuty to notify creditors
1514. 377GThe manager
1515. 377HWrite-down order ceasing to have effect
1516. 377IVariation or revocation of a write-down order
1517. 377JFurther provision about write-down orders
1518. 377KInsurers in financial difficulties: enforcement of contracts
1519. 378Treatment of assets on winding up.
1520. 379Winding-up rules.
1521. Settlement finality
1522. 379APower to apply settlement finality regime to payment institutions
1523. Part XXV: Injunctions and Restitution
1524. Injunctions
1525. 380Injunctions.
1526. 381Injunctions in cases of market abuse.
1527. Restitution orders
1528. 382Restitution orders.
1529. 383Restitution orders in cases of market abuse.
1530. Restitution required by FCA or PRA
1531. 384Power of FCA or PRA to require restitution.
1532. 385Warning notices.
1533. 386Decision notices.
1534. Part XXVI: Notices
1535. Warning notices
1536. 387Warning notices.
1537. Decision notices
1538. 388Decision notices.
1539. Conclusion of proceedings
1540. 389Notices of discontinuance.
1541. 390Final notices.
1542. Publication
1543. 391Publication.
1544. 391APublication: special provisions relating to capital requirements
1545. 391BPublication: special provisions relating to transparency obligations
1546. 391CPublication: special provisions relating to UCITS
1547. 391DPublication: special provisions relating to markets in financial instruments
1548. 391EPublication: special provisions relating to insurance distribution
1549. 391FPublication: special provisions relating to the prospectus regulation Repealed
1550. Third party rights and access to evidence
1551. 392Application of sections 393 and 394.
1552. 393Third party rights.
1553. 394Access to FCA or PRA material.
1554. The FCA's and PRA's procedures
1555. 395The FCA's and PRA's procedures.
1556. 396Statements under section 395: consultation.
1557. Part XXVII: Offences
1558. Miscellaneous offences
1559. 397Misleading statements and practices. Repealed
1560. 398Misleading FCA or PRA: residual cases.
1561. 399Misleading the CMA.
1562. Bodies corporate and partnerships
1563. 400Offences by bodies corporate etc.
1564. Institution of proceedings
1565. 401Proceedings for offences.
1566. 402Power of FCA to institute proceedings for certain other offences.
1567. 403Jurisdiction and procedure in respect of offences.
1568. Part XXVIII: Miscellaneous
1569. Consumer redress schemes
1570. 404Consumer redress schemes
1571. 404ARules under s.404: supplementary
1572. 404BComplaints to the ombudsman scheme
1573. 404CEnforcement
1574. 404DApplications to Tribunal to quash rules or provision of rules
1575. 404EMeaning of “consumers”
1576. 404FOther definitions etc
1577. 404GPower to widen the scope of consumer redress schemes
1578. Third countries
1579. 405Directions. Repealed
1580. 406Interpretation of section 405. Repealed
1581. 407Consequences of a direction under section 405. Repealed
1582. 408EFTA firms. Repealed
1583. 409Gibraltar.
1584. International powers and obligations
1585. 409AConsultation in relation to deference decisions
1586. 409BNotification in relation to international trade obligations
1587. 410International obligations.
1588. Fees to meet Treasury expenses
1589. 410AFees to meet certain expenses of the Treasury
1590. 410BDirections in pursuance of section 410A
1591. Tax treatment of levies and repayments
1592. 411Tax treatment of levies and repayments.
1593. Gaming contracts
1594. 412Gaming contracts.
1595. Trade-matching and reporting systems
1596. 412AApproval and monitoring of trade-matching and reporting systems Repealed
1597. 412BProcedure for approval and suspension or withdrawal of approval Repealed
1598. Limitation on powers to require documents
1599. 413Protected items.
1600. Service of notices
1601. 414Service of notices.
1602. Jurisdiction
1603. 415Jurisdiction in civil proceedings.
1604. Powers under the Act
1605. 415APowers under the Act
1606. 415AAApplication of powers to formerly authorised persons
1607. Consultation and co-operation
1608. 415BConsultation in relation to taking certain enforcement action
1609. 415CCo-operation and consultation in relation to exercise of functions
1610. Removal of certain unnecessary provisions
1611. 416Provisions relating to industrial assurance and certain other enactments.
1612. Sustainability disclosure requirements
1613. 416ASDR policy statement
1614. 416BFCA and PRA rules etc
1615. Part XXIX: Interpretation
1616. 417Definitions.
1617. 418Carrying on regulated activities in the United Kingdom.
1618. 419Carrying on regulated activities by way of business.
1619. 419AClaims management services
1620. 419BCarrying on claims management activity in Great Britain
1621. 420Parent and subsidiary undertaking.
1622. 421Group.
1623. 421ZAImmediate group
1624. 421AMeaning of “participating interest”
1625. 422Controller.
1626. 422ADisregarded holdings
1627. 423Manager.
1628. 423AMortgage agreements etc
1629. 424Insurance.
1630. 424AInvestment firm
1631. 425Expressions relating to authorisation ... in the single market.
1632. 425AConsumers: regulated activities etc carried on by authorised persons
1633. 425BConsumers: regulated activities carried on by others
1634. 425C“Qualifying provision”
1635. Part XXX: Supplemental
1636. 426Consequential and supplementary provision.
1637. 427Transitional provisions.
1638. 428Regulations and orders.
1639. 429Parliamentary control of statutory instruments.
1640. 430Extent.
1641. 431Commencement.
1642. 432Minor and consequential amendments, transitional provisions and repeals.
1643. 433Short title.
1644. Schedule 1: The Financial Services Authority Repealed
1645. Part I: General Repealed
1646. Interpretation Repealed
1647. 1Paragraph 1 Repealed
1648. Constitution Repealed
1649. 2Paragraph 2 Repealed
1650. Non-executive members of the governing body Repealed
1651. 3Paragraph 3 Repealed
1652. Functions of the non-executive committee Repealed
1653. 4Paragraph 4 Repealed
1654. Arrangements for discharging functions Repealed
1655. 5Paragraph 5 Repealed
1656. Monitoring and enforcement Repealed
1657. 6Paragraph 6 Repealed
1658. Arrangements for the investigation of complaints Repealed
1659. 7Paragraph 7 Repealed
1660. Investigation of complaints Repealed
1661. 8Paragraph 8 Repealed
1662. Records Repealed
1663. 9Paragraph 9 Repealed
1664. Annual report Repealed
1665. 10Paragraph 10 Repealed
1666. Annual public meeting Repealed
1667. 11Paragraph 11 Repealed
1668. Report of annual meeting Repealed
1669. 12Paragraph 12 Repealed
1670. Part II: Status Repealed
1671. 13Paragraph 13 Repealed
1672. Exemption from requirement of “limited” in Authority’s name Repealed
1673. 14Paragraph 14 Repealed
1674. 15Paragraph 15 Repealed
1675. Part III: Penalties and Fees Repealed
1676. Penalties Repealed
1677. 16Paragraph 16 Repealed
1678. Fees Repealed
1679. 17Paragraph 17 Repealed
1680. Services for which fees may not be charged Repealed
1681. 18Paragraph 18 Repealed
1682. Part IV: Miscellaneous Repealed
1683. Exemption from liability in damages Repealed
1684. 19Paragraph 19 Repealed
1685. 19AParagraph 19A Repealed
1686. Amounts required by rules to be paid to the Authority Repealed
1687. 19BParagraph 19B Repealed
1688. Disqualification for membership of House of Commons Repealed
1689. 20Paragraph 20 Repealed
1690. Disqualification for membership of Northern Ireland Assembly Repealed
1691. 21Paragraph 21 Repealed
1692. Schedule 1ZA: The Financial Conduct Authority
1693. Part 1: General
1694. Interpretation
1695. 1Paragraph 1
1696. Constitution
1697. 2Paragraph 2
1698. 2AParagraph 2A
1699. 2BParagraph 2B
1700. 3Paragraph 3
1701. 4Paragraph 4
1702. 5Paragraph 5
1703. 6Paragraph 6
1704. 6AParagraph 6A
1705. Remuneration
1706. 7Paragraph 7
1707. Arrangements for discharging functions
1708. 8Paragraph 8
1709. Records
1710. 9Paragraph 9
1711. Publication of record of meetings of governing body
1712. 10Paragraph 10
1713. Annual report
1714. 11Paragraph 11
1715. Other reports
1716. 11AParagraph 11A
1717. Annual public meeting
1718. 12Paragraph 12
1719. Report of annual meeting
1720. 13Paragraph 13
1721. Accounts and audit
1722. 14Paragraph 14
1723. 15Paragraph 15
1724. Part 2: Status
1725. Status
1726. 16Paragraph 16
1727. Exemption from requirement for use of “limited” in name of FCA
1728. 17Paragraph 17
1729. 18Paragraph 18
1730. Part 3: Penalties and fees
1731. Penalties
1732. 19Paragraph 19
1733. 20Paragraph 20
1734. 21Paragraph 21
1735. 22Paragraph 22
1736. Fees
1737. 23Paragraph 23
1738. Services for which fees may not be charged
1739. 24Paragraph 24
1740. Part 4: Miscellaneous
1741. Exemption from liability in damages
1742. 25Paragraph 25
1743. Accredited financial investigators
1744. 26Paragraph 26
1745. Amounts required by rules to be paid to the FCA
1746. 27Paragraph 27
1747. Engagement with Parliamentary Committees
1748. 28Paragraph 28
1749. 29Paragraph 29
1750. Schedule 1ZB: The Prudential Regulation Authority
1751. Part 1: General
1752. Interpretation
1753. 1Paragraph 1
1754. Constitution
1755. 2Paragraph 2 Repealed
1756. 3Paragraph 3 Repealed
1757. 4Paragraph 4 Repealed
1758. 5Paragraph 5 Repealed
1759. Appointed members of governing body
1760. 6Paragraph 6 Repealed
1761. 7Paragraph 7 Repealed
1762. 8Paragraph 8 Repealed
1763. 9Paragraph 9 Repealed
1764. 10Paragraph 10 Repealed
1765. 11Paragraph 11 Repealed
1766. 12Paragraph 12 Repealed
1767. 13Paragraph 13 Repealed
1768. 14Paragraph 14 Repealed
1769. Terms of service
1770. 15Paragraph 15 Repealed
1771. Arrangements for discharging functions
1772. 16Paragraph 16 Repealed
1773. Records
1774. 17Paragraph 17
1775. Budget
1776. 18Paragraph 18 Repealed
1777. Annual report
1778. 19Paragraph 19
1779. Consultation about annual report
1780. 20Paragraph 20
1781. Report on consultation
1782. 21Paragraph 21
1783. Other reports
1784. 21AParagraph 21A
1785. Accounts and audit
1786. 22Paragraph 22 Repealed
1787. 23Paragraph 23 Repealed
1788. Part 2: Status
1789. Status
1790. 24Paragraph 24 Repealed
1791. Exemption from requirement for use of “limited” in name of PRA
1792. 25Paragraph 25 Repealed
1793. 26Paragraph 26 Repealed
1794. Part 3: Penalties and fees
1795. Penalties
1796. 27Paragraph 27
1797. 28Paragraph 28
1798. 29Paragraph 29
1799. 30Paragraph 30
1800. Fees
1801. 31Paragraph 31
1802. Services for which fees may not be charged
1803. 32Paragraph 32
1804. Part 4: Miscellaneous
1805. Exemption from liability in damages
1806. 33Paragraph 33
1807. Accredited financial investigators
1808. 34Paragraph 34
1809. Amounts required by rules to be paid to the PRA
1810. 35Paragraph 35
1811. Engagement with Parliamentary Committees
1812. 36Paragraph 36
1813. 37Paragraph 37
1814. Schedule 1A: Further provision about the consumer financial education body Repealed
1815. Part 1: General Repealed
1816. Ensuring exercise of consumer financial education function etc Repealed
1817. 1Paragraph 1 Repealed
1818. Constitution Repealed
1819. 2Paragraph 2 Repealed
1820. Status Repealed
1821. 3Paragraph 3 Repealed
1822. Discharge of function by others Repealed
1823. 4Paragraph 4 Repealed
1824. 5Paragraph 5 Repealed
1825. Discharge of functions: considerations Repealed
1826. 6Paragraph 6 Repealed
1827. Relationship with the FCA Repealed
1828. 6AParagraph 6A Repealed
1829. 6BParagraph 6B Repealed
1830. Budget Repealed
1831. 7Paragraph 7 Repealed
1832. Annual plan Repealed
1833. 8Paragraph 8 Repealed
1834. Annual reports Repealed
1835. 9Paragraph 9 Repealed
1836. Audit of accounts Repealed
1837. 9AParagraph 9A Repealed
1838. ... Repealed
1839. 10Paragraph 10 Repealed
1840. Part 2: Funding Repealed
1841. Meaning of “the relevant costs” Repealed
1842. 11Paragraph 11 Repealed
1843. Funding of the relevant costs by authorised persons , payment service providers or electronic money issuers Repealed
1844. 12Paragraph 12 Repealed
1845. Funding of the relevant costs by consumer credit licensees etc Repealed
1846. 13Paragraph 13 Repealed
1847. Funding by grants or loans etc made by Treasury or Secretary of State Repealed
1848. 14Paragraph 14 Repealed
1849. Part 3: Reviews Repealed
1850. Reviews of economy etc of the consumer financial education body Repealed
1851. 15Paragraph 15 Repealed
1852. Right to obtain documents and information Repealed
1853. 16Paragraph 16 Repealed
1854. Schedule 2: Regulated Activities
1855. Part I: Regulated activities: general
1856. General
1857. 1Paragraph 1
1858. Dealing in investments
1859. 2Paragraph 2
1860. Arranging deals in investments
1861. 3Paragraph 3
1862. Deposit taking
1863. 4Paragraph 4
1864. Safekeeping and administration of assets
1865. 5Paragraph 5
1866. Managing investments
1867. 6Paragraph 6
1868. Investment advice
1869. 7Paragraph 7
1870. Establishing collective investment schemes
1871. 8Paragraph 8
1872. Using computer-based systems for giving investment instructions
1873. 9Paragraph 9
1874. Part 1A: Regulated activities: reclaim funds
1875. 9AActivities of reclaim funds
1876. Part II: Investments
1877. General
1878. 10Paragraph 10
1879. Securities
1880. 11Paragraph 11
1881. Instruments creating or acknowledging indebtedness
1882. 12Paragraph 12
1883. Government and public securities
1884. 13Paragraph 13
1885. Instruments giving entitlement to investments
1886. 14Paragraph 14
1887. Certificates representing securities
1888. 15Paragraph 15
1889. Units in collective investment schemes
1890. 16Paragraph 16
1891. Options
1892. 17Paragraph 17
1893. Futures
1894. 18Paragraph 18
1895. Contracts for differences
1896. 19Paragraph 19
1897. Contracts of insurance
1898. 20Paragraph 20
1899. Participation in Lloyd’s syndicates
1900. 21Paragraph 21
1901. Deposits
1902. 22Paragraph 22
1903. Loans and other forms of credit
1904. 23Paragraph 23
1905. Other finance arrangements involving land
1906. 23AParagraph 23A
1907. Contracts for hire of goods
1908. 23BParagraph 23B
1909. Rights in investments
1910. 24Paragraph 24
1911. Part 2A: Regulated activities relating to information about persons' financial standing
1912. 24AGeneral
1913. 24BProviding credit reference services
1914. 24CProviding credit information services
1915. 24DProviding credit information services
1916. Part 2B: Regulated activities relating to the setting of benchmarks Repealed
1917. 24EGeneral Repealed
1918. 24FProviding information Repealed
1919. 24GAdministration Repealed
1920. 24HDetermining or publishing benchmark or publishing connected information Repealed
1921. Part III: Supplemental Provisions
1922. The order-making power
1923. 25Paragraph 25
1924. Parliamentary control
1925. 26Paragraph 26
1926. Interpretation
1927. 27Paragraph 27
1928. Schedule 2A: Gibraltar-based persons carrying on activities in the UK
1929. Part 1: Interpretation etc
1930. Gibraltar-based person
1931. 1Paragraph 1
1932. Regulators
1933. 2Paragraph 2
1934. Activities and branches
1935. 3Paragraph 3
1936. UK regulators' objectives
1937. 4Paragraph 4
1938. Part 2: Approved activities
1939. Approval of regulated activities
1940. 5Paragraph 5
1941. Corresponding activities regulated in Gibraltar
1942. 6Paragraph 6
1943. Objectives
1944. 7Paragraph 7
1945. Alignment of law and practice
1946. 8Paragraph 8
1947. Co-operation
1948. 9Paragraph 9
1949. Consultation
1950. 10Paragraph 10
1951. Withdrawal of approval
1952. 11Paragraph 11
1953. Part 3: Permission to carry on an approved activity
1954. Obtaining permission to carry on an approved activity
1955. 12Paragraph 12
1956. Schedule 2A permission
1957. 13Paragraph 13
1958. The appropriate UK regulator
1959. 14Paragraph 14
1960. Notifying the appropriate UK regulator
1961. 15Paragraph 15
1962. Considering a notification
1963. 16Paragraph 16
1964. Rejecting a notification
1965. 17Paragraph 17
1966. Duties to reject
1967. 18Paragraph 18
1968. Power to reject: prohibition order in respect of senior manager
1969. 19Paragraph 19
1970. Power to reject: loss of access right and serious threat to the UK
1971. 20Paragraph 20
1972. Part 4: Variation of permission
1973. Variation of permission
1974. 21Paragraph 21
1975. Gibraltar regulator's initiative: notification
1976. 22Paragraph 22
1977. Gibraltar regulator's initiative: the appropriate UK regulator
1978. 23Paragraph 23
1979. Gibraltar regulator's initiative: notifying the UK regulator
1980. 24Paragraph 24
1981. Gibraltar regulator's initiative: considering a notification
1982. 25Paragraph 25
1983. Gibraltar regulator's initiative: rejecting a notification
1984. 26Paragraph 26
1985. UK regulator's initiative
1986. 27Paragraph 27
1987. Own-initiative conditions
1988. 28Paragraph 28
1989. UK regulator's initiative: procedure
1990. 29Paragraph 29
1991. Right to refer matters to the Tribunal
1992. 30Paragraph 30
1993. Part 5: Cancellation of permission
1994. Cancellation of permission
1995. 31Paragraph 31
1996. Gibraltar regulator's initiative: notification
1997. 32Paragraph 32
1998. Gibraltar regulator's initiative: the appropriate UK regulator
1999. 33Paragraph 33
2000. Gibraltar regulator's initiative: notifying the UK regulator
2001. 34Paragraph 34
2002. Gibraltar regulator's initiative: considering a notification
2003. 35Paragraph 35
2004. Gibraltar regulator's initiative: rejecting a notification
2005. 36Paragraph 36
2006. UK regulator's initiative
2007. 37Paragraph 37
2008. UK regulator's initiative: procedure
2009. 38Paragraph 38
2010. Right to refer matters to the Tribunal
2011. 39Paragraph 39
2012. Part 6: Requirements
2013. Requirements
2014. 40Paragraph 40
2015. Imposing requirements in connection with Part 3 or 4 notification
2016. 41Paragraph 41
2017. Imposing requirements in connection with Part 3 or 4 notification: procedure
2018. 42Paragraph 42
2019. Right to refer matters to the Tribunal
2020. 43Paragraph 43
2021. Gibraltar regulator's initiative: notification
2022. 44Paragraph 44
2023. Gibraltar regulator's initiative: the appropriate UK regulator
2024. 45Paragraph 45
2025. Gibraltar regulator's initiative: notifying the UK regulator
2026. 46Paragraph 46
2027. Gibraltar regulator's initiative: considering a notification
2028. 47Paragraph 47
2029. Gibraltar regulator's initiative: rejecting a notification
2030. 48Paragraph 48
2031. UK regulator's initiative: imposing, varying and cancelling requirements
2032. 49Paragraph 49
2033. UK regulator's initiative: procedure for imposing or varying requirements
2034. 50Paragraph 50
2035. UK regulator's initiative: procedure for cancellation
2036. 51Paragraph 51
2037. Right to refer matters to the Tribunal
2038. 52Paragraph 52
2039. Assets requirements
2040. 53Paragraph 53
2041. Further provision about requirements
2042. 54Paragraph 54
2043. Contravention of requirement imposed under this Part
2044. 55Paragraph 55
2045. Part 7: Changes
2046. Duty to notify UK regulators of changes
2047. 56Paragraph 56
2048. Part 8: UK regulators' directions about information
2049. Directions about information to be included in notifications
2050. 57Paragraph 57
2051. Part 9: Transition on withdrawal of approval of regulated activity etc
2052. Transition on withdrawal of approval of regulated activity
2053. 58Paragraph 58
2054. Transition on Gibraltar activity ceasing to be corresponding activity
2055. 59Paragraph 59
2056. Restricting transitional permission
2057. 60Paragraph 60
2058. Directions about protected contracts
2059. 61Paragraph 61
2060. Right to refer matters to the Tribunal
2061. 62Paragraph 62
2062. Further powers
2063. 63Paragraph 63
2064. Part 10: Transition on cancellation of UK or Gibraltar permission
2065. Transition on cancellation of Schedule 2A permission
2066. 64Paragraph 64
2067. Transition on cancellation of Gibraltar permission
2068. 65Paragraph 65
2069. The appropriate UK regulator
2070. 66Paragraph 66
2071. Directions about protected contracts
2072. 67Paragraph 67
2073. End of transition
2074. 68Paragraph 68
2075. End of transition: procedure
2076. 69Paragraph 69
2077. Right to refer matters to the Tribunal
2078. 70Paragraph 70
2079. Part 11: Policy statements
2080. Policy statements
2081. 71Paragraph 71
2082. Policy statements: procedure
2083. 72Paragraph 72
2084. Part 12: Consultation etc by UK regulators
2085. FCA's duties to consult the PRA
2086. 73Paragraph 73
2087. FCA's duties to obtain consent from the PRA
2088. 74Paragraph 74
2089. FCA's duties to inform the PRA
2090. 75Paragraph 75
2091. PRA's duties to consult the FCA
2092. 76Paragraph 76
2093. PRA's duty to obtain consent from the FCA
2094. 77Paragraph 77
2095. PRA's duties to inform the FCA
2096. 78Paragraph 78
2097. UK regulators' duties to inform the Gibraltar regulator
2098. 79Paragraph 79
2099. Part 13: Co-operation and Assistance
2100. Duties to co-operate
2101. 80Paragraph 80
2102. Publication and review of arrangements for co-operation
2103. 81Paragraph 81
2104. Provision of reports to assist the Treasury
2105. 82Paragraph 82
2106. Part 14: Special cases
2107. Gibraltar-based individuals carrying on insurance distribution activities
2108. 83Paragraph 83
2109. Schedule 3: EEA Passport Rights
2110. Part I: Defined terms
2111. The single market directives
2112. 1Paragraph 1
2113. The banking co-ordination directives
2114. 2Paragraph 2 Repealed
2115. The Solvency 2 Directive
2116. 3Paragraph 3 Repealed
2117. The reinsurance directive
2118. 3AParagraph 3A Repealed
2119. The investment services directive
2120. 4Paragraph 4 Repealed
2121. The insurance distribution directive
2122. 4AParagraph 4A
2123. The UCITS directive
2124. 4BParagraph 4B
2125. The markets in financial instruments directive
2126. 4CParagraph 4C
2127. 4DThe emission allowance auctioning regulation
2128. The alternative investment fund managers directive
2129. 4EParagraph 4E
2130. The mortgages directive
2131. 4FParagraph 4F
2132. EEA firm
2133. 5Paragraph 5
2134. 5AParagraph 5A
2135. EEA authorisation
2136. 6Paragraph 6 Repealed
2137. EEA right
2138. 7Paragraph 7
2139. 7AParagraph 7A
2140. EEA State
2141. 8Paragraph 8
2142. Home state regulator
2143. 9Paragraph 9
2144. UK firm
2145. 10Paragraph 10
2146. 10AParagraph 10A
2147. UK investment firm
2148. 10BParagraph 10B
2149. Host state regulator
2150. 11Paragraph 11
2151. Tied agent
2152. 11AParagraph 11A
2153. Management company
2154. 11BParagraph 11B
2155. UCITS
2156. 11CParagraph 11C Repealed
2157. EEAAIFM
2158. 11DParagraph 11D Repealed
2159. Part II: Exercise of Passport Rights by EEA Firms Repealed
2160. Firms qualifying for authorisation Repealed
2161. 12Paragraph 12 Repealed
2162. Establishment Repealed
2163. 13Paragraph 13 Repealed
2164. Services Repealed
2165. 14Paragraph 14 Repealed
2166. Grant of permission Repealed
2167. 15Paragraph 15 Repealed
2168. 15ZAGrant of permission: bidding for emission allowances Repealed
2169. Power to restrict permission of management companies Repealed
2170. 15AApplication for approval to manage UCITS Repealed
2171. 15BRepresentations and references to the Tribunal Repealed
2172. 15CInformation to home state regulator Repealed
2173. Effect of carrying on regulated activity when not qualified for authorisation Repealed
2174. 16Paragraph 16 Repealed
2175. Continuing regulation of European Economic AreaEEA firms Repealed
2176. 17Paragraph 17 Repealed
2177. Giving up right to authorisation Repealed
2178. 18Paragraph 18 Repealed
2179. Part III: Exercise of Passport Rights by UK Firms Repealed
2180. Meaning of “the appropriate UK regulator” Repealed
2181. 18AParagraph 18A Repealed
2182. Establishment Repealed
2183. 19Paragraph 19 Repealed
2184. Services Repealed
2185. 20Paragraph 20 Repealed
2186. 20ZAInformation for host state regulator Repealed
2187. Tied agents Repealed
2188. 20AParagraph 20A Repealed
2189. 20BNotice of intention to market a UCITS Repealed
2190. Notice of intention to market an Alternative Investment FundAIF Repealed
2191. 20CParagraph 20C Repealed
2192. Offence relating to exercise of passport rights Repealed
2193. 21Paragraph 21 Repealed
2194. Continuing regulation of United KingdomUK firms Repealed
2195. 22Paragraph 22 Repealed
2196. 23Paragraph 23 Repealed
2197. 24Paragraph 24 Repealed
2198. Arrangements between FCA and PRA Repealed
2199. 24AParagraph 24A Repealed
2200. Information to be included in the public record Repealed
2201. 25Paragraph 25 Repealed
2202. 26UK management companies: delegation of functions Repealed
2203. 27UK management companies: withdrawal of authorisation Repealed
2204. 28Management companies: request for information Repealed
2205. Full-scope United KingdomUKAlternative Investment Fund ManagersAIFMs: notification of breach by host state regulator Repealed
2206. 29Paragraph 29 Repealed
2207. Schedule 4: Treaty Rights Repealed
2208. Definitions Repealed
2209. 1Paragraph 1 Repealed
2210. Firms qualifying for authorisation Repealed
2211. 2Paragraph 2 Repealed
2212. Exercise of Treaty rights Repealed
2213. 3Paragraph 3 Repealed
2214. Notification between UK regulators Repealed
2215. 3AParagraph 3A Repealed
2216. Permission Repealed
2217. 4Paragraph 4 Repealed
2218. Notice to United KingdomUK regulator Repealed
2219. 5Paragraph 5 Repealed
2220. Offences Repealed
2221. 6Paragraph 6 Repealed
2222. Schedule 5: Persons Concerned in Collective Investment Schemes
2223. Authorisation
2224. 1Paragraph 1
2225. Permission
2226. 2Paragraph 2
2227. Schedule 6: Threshold Conditions
2228. Part 1: Introduction
2229. 1AParagraph 1A
2230. Part 1B: Part 4A permission: authorised persons who are not PRA-authorised persons
2231. 2AIntroduction
2232. 2BLocation of offices
2233. 2CEffective supervision
2234. 2DAppropriate resources
2235. 2ESuitability
2236. 2FBusiness model
2237. 2GInterpretation
2238. Part 1C: Part 4A permission: conditions for which FCA is responsible in relation to PRA-authorised persons
2239. 3AIntroduction
2240. 3BEffective supervision
2241. 3CAppropriate non-financial resources
2242. 3DSuitability
2243. 3EBusiness model
2244. Part 1D: Part 4A permission: conditions for which the PRA is responsible in relation to insurers etc.
2245. 4AIntroduction
2246. 4BLegal status
2247. 4CLocation of offices
2248. 4DBusiness to be conducted in a prudent manner
2249. 4ESuitability
2250. 4FEffective supervision
2251. Part 1E: Part 4A permission: conditions for which the PRA is responsible in relation to other PRA-authorised persons
2252. 5AIntroduction
2253. 5BLegal status
2254. 5CLocation of offices
2255. 5DBusiness to be conducted in a prudent manner
2256. 5ESuitability
2257. 5FEffective supervision
2258. Part 1F: Authorisation under Schedule 3 Repealed
2259. 6AParagraph 6A Repealed
2260. Part 1G: Authorisation under Schedule 4 Repealed
2261. 7AParagraph 7A Repealed
2262. Part II: Authorisation
2263. Authorisation under Schedule 3
2264. ...Paragraph ... Repealed
2265. Part III: Additional Conditions
2266. 8Paragraph 8
2267. 9Paragraph 9 Repealed
2268. Schedule 6A: Variation or cancellation of Part 4A permission on initiative of FCA: additional power
2269. Additional power
2270. 1Paragraph 1
2271. Procedure etc
2272. 2Paragraph 2
2273. Notice of decision
2274. 3Paragraph 3
2275. Application for decision to be annulled
2276. 4Paragraph 4
2277. Annulment etc
2278. 5Paragraph 5
2279. Effect
2280. 6Paragraph 6
2281. Right to refer matter to Tribunal
2282. 7Paragraph 7
2283. Supplementary
2284. 8Paragraph 8
2285. Schedule 6B: Designated activities
2286. 1Introductory
2287. 2Derivatives
2288. 3Derivatives
2289. 4Short selling
2290. 5Securitisation
2291. 6Securitisation
2292. 7Financial markets
2293. 8Financial markets
2294. 9Using a benchmark
2295. 10Using a benchmark
2296. 11Using a benchmark
2297. 12Contributing to a benchmark
2298. 13Contributing to a benchmark
2299. Schedule 6C: LISTED DESIGNATED ACTIVITY REGULATIONS AND REQUIREMENTS FOR PURPOSES OF CERTAIN PROVISIONS
2300. 1PROVISIONS DESIGNATING RELEVANT DESIGNATED ACTIVITIES
2301. 2RELEVANT PART 5A REQUIREMENTS FOR PURPOSES OF SPECIFIED PROVISIONS
2302. 3RELEVANT PART 5A DIRECTIONS FOR PURPOSES OF CHAPTER 2 OF PART 5A
2303. Schedule 7
2304. Part The Authority as Competent Authority for Part VI Repealed
2305. General Repealed
2306. 1Paragraph 1 Repealed
2307. The Authority’s general functions Repealed
2308. 2Paragraph 2 Repealed
2309. Duty to consult Repealed
2310. 3Paragraph 3 Repealed
2311. Rules Repealed
2312. 4Paragraph 4 Repealed
2313. Statements of policy Repealed
2314. 5Paragraph 5 Repealed
2315. Penalties Repealed
2316. 6Paragraph 6 Repealed
2317. Fees Repealed
2318. 7Paragraph 7 Repealed
2319. Exemption from liability in damages Repealed
2320. 8Paragraph 8 Repealed
2321. Schedule 8
2322. Part Transfer of functions under Part VI Repealed
2323. The power to transfer Repealed
2324. 1Paragraph 1 Repealed
2325. Supplemental Repealed
2326. 2Paragraph 2 Repealed
2327. 3Paragraph 3 Repealed
2328. Schedule 9
2329. General application of Part VI
2330. 1Paragraph 1
2331. References to listing particulars
2332. 2Paragraph 2
2333. General duty of disclosure
2334. 3Paragraph 3
2335. Supplementary prospectuses
2336. 4Paragraph 4
2337. Exemption from liability for compensation
2338. 5Paragraph 5
2339. Advertisements
2340. 6Paragraph 6
2341. Fees
2342. 7Paragraph 7
2343. Schedule 10: Compensation: Exemptions
2344. Statements believed to be true
2345. 1Paragraph 1
2346. Statements by experts
2347. 2Paragraph 2
2348. Corrections of statements
2349. 3Paragraph 3
2350. Corrections of statements by experts
2351. 4Paragraph 4
2352. Official statements
2353. 5Paragraph 5
2354. False or misleading information known about
2355. 6Paragraph 6
2356. Belief that supplementary listing particulars not called for
2357. 7Paragraph 7
2358. Meaning of “expert”
2359. 8Paragraph 8
2360. Schedule 10A: LIABILITY OF ISSUERS IN CONNECTION WITH PUBLISHED INFORMATION
2361. Part 1: SCOPE OF THIS SCHEDULE
2362. 1Securities to which this Schedule applies
2363. 2Published information to which this Schedule applies
2364. Part 2: LIABILITY IN CONNECTION WITH PUBLISHED INFORMATION
2365. 3Liability of issuer for misleading statement or dishonest omission
2366. 4Paragraph 4
2367. 5Liability of issuer for dishonest delay in publishing information
2368. 6Meaning of dishonesty
2369. 7Exclusion of certain other liabilities
2370. Part 3: SUPPLEMENTARY PROVISIONS
2371. 8Interpretation
2372. Schedule 11
2373. The general rule
2374. 1Paragraph 1
2375. Exempt offers
2376. 2Paragraph 2
2377. Offers for business purposes
2378. 3Paragraph 3
2379. Offers to limited numbers
2380. 4Paragraph 4
2381. Clubs and associations
2382. 5Paragraph 5
2383. Restricted circles
2384. 6Paragraph 6
2385. Underwriting agreements
2386. 7Paragraph 7
2387. Offers to public authorities
2388. 8Paragraph 8
2389. Maximum consideration
2390. 9Paragraph 9
2391. Minimum consideration
2392. 10Paragraph 10
2393. Securities denominated in euros
2394. 11Paragraph 11
2395. Takeovers
2396. 12Paragraph 12
2397. Mergers
2398. 13Paragraph 13
2399. Free shares
2400. 14Paragraph 14
2401. Exchange of shares
2402. 15Paragraph 15
2403. Qualifying persons
2404. 16Paragraph 16
2405. Convertible securities
2406. 17Paragraph 17
2407. Charities
2408. 18Paragraph 18
2409. Building societies etc.
2410. 19Paragraph 19
2411. Euro-securities
2412. 20Paragraph 20
2413. Same class securities
2414. 21Paragraph 21
2415. Short date securities
2416. 22Paragraph 22
2417. Government and public securities
2418. 23Paragraph 23
2419. Non-transferable securities
2420. 24Paragraph 24
2421. 24AUnits in a collective investment scheme
2422. General definitions
2423. 25Paragraph 25
2424. Schedule 11A: TRANSFERABLE SECURITIES
2425. Part 1 Repealed
2426. 1Paragraph 1 Repealed
2427. 2Paragraph 2 Repealed
2428. 3Paragraph 3 Repealed
2429. 4Paragraph 4 Repealed
2430. 5Paragraph 5 Repealed
2431. 6Paragraph 6 Repealed
2432. Part 2
2433. 7Paragraph 7 Repealed
2434. 8Paragraph 8 Repealed
2435. 9Paragraph 9 Repealed
2436. Schedule 11B: CONNECTED PERSONS Repealed
2437. Part 1: MEANING OF “CONNECTED PERSON” Repealed
2438. 1Introduction Repealed
2439. 2Meaning of “connected person” Repealed
2440. 3Family members Repealed
2441. 4Associated bodies corporate Repealed
2442. 5Control of a body corporate Repealed
2443. 6Supplementary provisions Repealed
2444. Part 2: CONNECTED PERSONS: REFERENCES TO AN INTEREST IN SHARES OR DEBENTURES Repealed
2445. 7Introduction Repealed
2446. 8General provisions Repealed
2447. 9Rights to acquire shares Repealed
2448. 10Right to exercise or control exercise of rights Repealed
2449. 11Bodies corporate Repealed
2450. 12Trusts Repealed
2451. Schedule 12: Transfer schemes: certificates
2452. Part I: Insurance Business Transfer Schemes
2453. 1Paragraph 1
2454. Certificates as to margin of solvency
2455. 2Paragraph 2
2456. Certificates as to consultation
2457. 3Paragraph 3 Repealed
2458. Certificates as to long-term business
2459. 4Paragraph 4 Repealed
2460. Certificates as to general business
2461. 5Paragraph 5 Repealed
2462. Certificates as to legality and as to consent
2463. 5AParagraph 5A Repealed
2464. Interpretation of Part I
2465. 6Paragraph 6 Repealed
2466. Part II: Banking Business Transfer Schemes
2467. 7Paragraph 7
2468. Certificates as to financial resources
2469. 8Paragraph 8
2470. Certificates as to consent of home state regulator
2471. 9Paragraph 9 Repealed
2472. Part 2A: Reclaim fund business transfer schemes
2473. 9ACertificate as to financial resources
2474. Part 2B: Ring-fencing transfer schemes
2475. 9BAppropriate certificates
2476. 9CCertificate as to financial resources
2477. 9DCertificate as to consent of home state regulator Repealed
2478. Part III: Insurance business transfers effected outside the United Kingdom
2479. 10Paragraph 10
2480. Schedule 13
2481. Part I: General
2482. Interpretation
2483. 1Paragraph 1
2484. Part II: The Tribunal
2485. President
2486. 2Paragraph 2
2487. Panels
2488. 3Paragraph 3
2489. Terms of office etc
2490. 4Paragraph 4
2491. Remuneration and expenses
2492. 5Paragraph 5
2493. Staff
2494. 6Paragraph 6
2495. Part III: Constitution of Tribunal
2496. 7Paragraph 7
2497. Part IV: Tribunal Procedure
2498. 8Paragraph 8
2499. 9Paragraph 9
2500. Practice directions
2501. 10Paragraph 10
2502. Evidence
2503. 11Paragraph 11
2504. Decisions of Tribunal
2505. 12Paragraph 12
2506. Costs
2507. 13Paragraph 13
2508. Schedule 14: Role of the Competition Commission Repealed
2509. Provision of information by Treasury Repealed
2510. 1Paragraph 1 Repealed
2511. Consideration of matters arising on a report Repealed
2512. 2Paragraph 2 Repealed
2513. Repealed
2514. 2AParagraph 2A Repealed
2515. Repealed
2516. 2BParagraph 2B Repealed
2517. Repealed
2518. 2CParagraph 2C Repealed
2519. Applied provisions Repealed
2520. 3Paragraph 3 Repealed
2521. Publication of reports Repealed
2522. 4Paragraph 4 Repealed
2523. Schedule 15: Information and Investigations: Connected Persons
2524. Part I: Rules for Specific Bodies
2525. Corporate bodies
2526. 1Paragraph 1
2527. Partnerships
2528. 2Paragraph 2
2529. Unincorporated associations
2530. 3Paragraph 3
2531. Friendly societies
2532. 4Paragraph 4
2533. Building societies
2534. 5Paragraph 5
2535. Individuals
2536. 6Paragraph 6
2537. Application to sections 171 and 172
2538. 7Paragraph 7
2539. Part II: Additional Rules
2540. 8Paragraph 8
2541. Schedule 16: Prohibitions and Restrictions imposed by OFFICE OF FAIR TRADING
2542. Preliminary Repealed
2543. 1Paragraph 1 Repealed
2544. Notice of prohibition or restriction Repealed
2545. 2Paragraph 2 Repealed
2546. Application to revoke prohibition or restriction Repealed
2547. 3Paragraph 3 Repealed
2548. Representations to Office of Fair TradingOFT Repealed
2549. 4Paragraph 4 Repealed
2550. Appeals Repealed
2551. 5Paragraph 5 Repealed
2552. Schedule 17: The Ombudsman Scheme
2553. Part I: General
2554. Interpretation
2555. 1Paragraph 1
2556. Part II: The Scheme Operator
2557. Duty of FCA
2558. 2Paragraph 2
2559. Constitution
2560. 3Paragraph 3
2561. Relationship with FCA
2562. 3AParagraph 3A
2563. The panel of ombudsmen
2564. 4Paragraph 4
2565. The Chief Ombudsman
2566. 5Paragraph 5
2567. Status
2568. 6Paragraph 6
2569. Annual reports
2570. 7Paragraph 7
2571. Audit of accounts
2572. 7AParagraph 7A
2573. Information, advice and guidance
2574. 8Paragraph 8
2575. Budget
2576. 9Paragraph 9
2577. Annual plan
2578. 9AParagraph 9A
2579. Exemption from liability in damages
2580. 10Paragraph 10
2581. Privilege
2582. 11Paragraph 11
2583. Part III: The Compulsory Jurisdiction
2584. Introduction
2585. 12Paragraph 12
2586. FCA's ... rules
2587. 13Paragraph 13
2588. The scheme operator’s rules
2589. 14Paragraph 14
2590. Fees
2591. 15Paragraph 15
2592. Enforcement of money awards
2593. 16Paragraph 16
2594. Part 3A: The consumer credit jurisdiction
2595. Introduction Repealed
2596. 16AParagraph 16A Repealed
2597. Procedure for complaints etc. Repealed
2598. 16BParagraph 16B Repealed
2599. Fees Repealed
2600. 16CParagraph 16C Repealed
2601. Enforcement of money awards Repealed
2602. 16DParagraph 16D Repealed
2603. Procedure for consumer credit rules Repealed
2604. 16EParagraph 16E Repealed
2605. Verification of consumer credit rules Repealed
2606. 16FParagraph 16F Repealed
2607. Consultation Repealed
2608. 16GParagraph 16G Repealed
2609. Part IV: The Voluntary Jurisdiction
2610. Introduction
2611. 17Paragraph 17
2612. Terms of reference to the scheme
2613. 18Paragraph 18
2614. Delegation by and to other schemes
2615. 19Paragraph 19
2616. Voluntary jurisdiction rules: procedure
2617. 20Paragraph 20
2618. Verification of the rules
2619. 21Paragraph 21
2620. Consultation
2621. 22Paragraph 22
2622. Schedule 17A: Further provision in relation to exercise of Part 18 functions , or other FMI functions, by Bank of England
2623. Part 1: Co-operation between appropriate regulators
2624. Memorandum of understanding between appropriate regulators and PRA
2625. 1Paragraph 1
2626. 2Paragraph 2
2627. 3Paragraph 3
2628. 4Paragraph 4
2629. 5Paragraph 5
2630. 6Paragraph 6
2631. 6AParagraph 6A
2632. Notification by FCA of action in relation to recognised clearing houses
2633. 7Paragraph 7
2634. 8Paragraph 8
2635. Part 2: Application of provisions of this Act in relation to Bank of England
2636. Introduction
2637. 9Paragraph 9
2638. Public consultations
2639. 9AParagraph 9A
2640. Requirements
2641. 9BParagraph 9B
2642. Rules
2643. 10Paragraph 10
2644. 10AParagraph 10A
2645. Information gathering and investigations
2646. 11Paragraph 11
2647. 12Paragraph 12
2648. 12AParagraph 12A
2649. 13Paragraph 13
2650. 14Paragraph 14
2651. 15Paragraph 15
2652. 16Paragraph 16
2653. Powers in relation to parent undertakings
2654. 17Paragraph 17
2655. Auditors
2656. 18Paragraph 18
2657. 19Paragraph 19
2658. 20Paragraph 20
2659. 21Paragraph 21
2660. Public record and disclosure of information
2661. 22Paragraph 22
2662. 23Paragraph 23
2663. Co-operation
2664. 23AParagraph 23A
2665. Insolvency
2666. 24Paragraph 24
2667. 25Paragraph 25
2668. Injunctions and restitution
2669. 26Paragraph 26
2670. 27Paragraph 27
2671. 28Paragraph 28
2672. Notices
2673. 29Paragraph 29
2674. Offences
2675. 30Paragraph 30
2676. 31Paragraph 31
2677. International obligations
2678. 31AParagraph 31A
2679. Transitional provisions
2680. 31BParagraph 31B
2681. Records
2682. 32Paragraph 32
2683. Annual report
2684. 33Paragraph 33
2685. Other reports
2686. 33AParagraph 33A
2687. Engagement with Parliamentary Committees
2688. 33BParagraph 33B
2689. Part 3: Winding up, administration or insolvency of recognised clearing houses
2690. Notice to Bank of England of preliminary steps
2691. 34Paragraph 34
2692. Power to give directions to insolvency practitioner
2693. 35Paragraph 35
2694. Part 4: Fees
2695. 36Paragraph 36
2696. 37Paragraph 37
2697. Schedule 18: Mutuals
2698. Part I: Friendly Societies
2699. The Friendly Societies Act 1974 (c.46)
2700. 1Paragraph 1
2701. 2Paragraph 2
2702. 3Paragraph 3
2703. 4Paragraph 4
2704. The Friendly Societies Act 1992 (c.40)
2705. 5Paragraph 5
2706. 6Paragraph 6
2707. 7Paragraph 7
2708. 8Paragraph 8
2709. Part II: Friendly Societies: Subsidiaries and Controlled Bodies
2710. Interpretation
2711. 9Paragraph 9
2712. Qualifying bodies
2713. 10Paragraph 10
2714. Bodies controlled by societies
2715. 11Paragraph 11
2716. Joint control by societies
2717. 12Paragraph 12
2718. Acquisition of joint control
2719. 13Paragraph 13
2720. Amendment of Schedule 8 to the 1992 Act
2721. 14Paragraph 14
2722. Consequential amendments
2723. 15Paragraph 15
2724. References in other enactments
2725. 16Paragraph 16
2726. Part III: Building Societies
2727. The Building Societies Act 1986 (c.53)
2728. 17Paragraph 17
2729. 18Paragraph 18
2730. Part IV: Industrial and Provident Societies Repealed
2731. The Industrial and Provident Societies Act 1965 (c.12) Repealed
2732. 19Paragraph 19 Repealed
2733. 20Paragraph 20 Repealed
2734. Part V: Credit Unions
2735. The Credit Unions Act 1979 (c.34)
2736. 21Paragraph 21
2737. 22Paragraph 22
2738. 23Paragraph 23
2739. 24Paragraph 24
2740. 25Paragraph 25
2741. 26Paragraph 26
2742. Schedule 19
2743. Part I: Persons and functions for the purposes of section 351
2744. 1Paragraph 1
2745. Part II: The enactments
2746. 1Paragraph 1
2747. 2Paragraph 2
2748. 3Paragraph 3
2749. 4Paragraph 4
2750. 5Paragraph 5
2751. 6Paragraph 6
2752. 7Paragraph 7
2753. 8Paragraph 8
2754. 9Paragraph 9
2755. 10Paragraph 10
2756. 11Paragraph 11
2757. 12Paragraph 12
2758. 13Paragraph 13
2759. 14Paragraph 14
2760. 15Paragraph 15
2761. 16Paragraph 16
2762. 17Paragraph 17
2763. 18Paragraph 18
2764. 19Paragraph 19
2765. Schedule 19A: The manager of a write-down order
2766. 1Application of Schedule
2767. 2Status of the manager
2768. 3Monitoring the insurer’s affairs
2769. 4Application by manager to revoke or vary a write-down order
2770. 5Provision of information and assistance to the manager
2771. 6Application by manager for directions
2772. 7Challenges to the manager’s actions
2773. Schedule 19B: Further provision about write-down orders
2774. Part 1: Restrictions on enforcement
2775. 1Application of this Part of this Schedule
2776. 2Moratorium on proceedings
2777. 3Exceptions
2778. Part 2: Dealing with assets etc
2779. 4Application of this Part of this Schedule
2780. 5Dealing with assets
2781. 6Paying variable remuneration
2782. 7Distributions
2783. Part 3: Treatment of written-down liabilities for certain purposes
2784. 8Application of this Part of this Schedule
2785. 9Relevant insolvency provisions
2786. 10Reinsurance contracts
2787. Part 4: Interest
2788. 11Paragraph 11
2789. Schedule 19C: Insurers in financial difficulties: enforcement of contracts
2790. Part 1: Introductory
2791. 1Application of this Schedule
2792. 2“Financial difficulties”
2793. Part 2: Policyholder surrender rights
2794. 3Restriction on policyholder surrender rights
2795. 4Switching rights
2796. 5Consent to exceed surrender limit
2797. Part 3: Termination etc of relevant contracts
2798. 6Relevant contracts
2799. 7Restriction on termination etc
2800. 8Consent to terminate relevant contracts
2801. Part 4: Exclusions and disapplication of this Schedule
2802. 9Exclusions
2803. 10Disapplication of this Schedule by the court
2804. 11Procedure
2805. Part 5: Powers to amend this Schedule
2806. 12Paragraph 12
2807. Schedule 20: Minor and Consequential Amendments
2808. The House of Commons Disqualification Act 1975 (c. 24)
2809. 1Paragraph 1
2810. The Northern Ireland Assembly Disqualification Act 1975 (c. 25)
2811. 2Paragraph 2
2812. The Civil Jurisdiction and Judgments Act 1982 (c. 27)
2813. 3Paragraph 3
2814. The Income and Corporation Taxes Act 1988 (c. 1)
2815. 4Paragraph 4
2816. The Finance Act 1991 (c. 31)
2817. 5Paragraph 5
2818. The Tribunals and Inquiries Act 1992 (c. 53)
2819. 6Paragraph 6 Repealed
2820. The Judicial Pensions and Retirement Act 1993 (c. 8)
2821. 7Paragraph 7
2822. Schedule 21: Transitional Provisions and Savings
2823. Self-regulating organisations
2824. 1Paragraph 1
2825. Self-regulating organisations for friendly societies
2826. 2Paragraph 2
2827. Schedule 22Repeals