OpenLegislation

Explanatory note

Original text. Later amendments are not shown.

(This note is not part of the Order)

This Order makes amendments to secondary legislation in consequence of the amendments made to section 66 (disciplinary powers) of the Financial Services and Markets Act 2000 (c. 8) (“FSMA”) and the insertion of new sections 66A (misconduct: action by the FCA) and 66B (misconduct: action by the PRA) in that Act by the Financial Services (Banking Reform) Act 2013 (c. 33).

The Financial Services (Banking Reform) Act 2013 (Commencement No. 9) Order 2015 (S.I. 2015/490) brings into force the relevant amendments to section 66 of, and the insertion of new sections 66A and 66B in, FSMA on 7th March 2016.

This Order will have no effect on the costs of business and voluntary sector independent of the provisions this Order brings into force. For that reason, no impact assessment has been produced for this instrument.