Financial Services and Markets Act 2000

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 Repealed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 The Authority’s general duties Repealed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 Repealed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 The regulatory objectives Repealed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 Repealed
7. 3AFinancial stability Repealed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 Repealed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 Repealed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 Repealed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 Enhancing public understanding of financial matters etc Repealed
12. 6AEnhancing public understanding of financial matters etc Repealed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 Corporate governance Repealed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 Repealed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 Arrangements for consulting practitioners and consumers Repealed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 Repealed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 Repealed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 Repealed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 Repealed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 Reviews Repealed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 Repealed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 Repealed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 Inquiries Repealed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 Repealed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 Repealed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 Repealed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 Repealed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 Repealed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. 137FDFCA general rules: charges for claims management services
605. 137GThe PRA's general rules
606. 137GAThe PRA's general rules: Gibraltar
607. 137HGeneral rules about remuneration
608. 137IRemuneration policies: Treasury direction to consider compliance
609. 137JRules about recovery plans: duty to consult
610. 137KRules about resolution packs: duty to consult
611. 137LInterpretation of sections 137J and 137K
612. 137MSpecial provision relating to adequacy of resolution plans Repealed
613. 137NRecovery plans and resolution packs: restriction on duty of confidence
614. Specific rule-making powers
615. 137OThreshold condition code
616. 137PControl of information rules
617. 137QPrice stabilising rules
618. 137RFinancial promotion rules
619. 137SFinancial promotion rules: directions given by FCA
620. 137SARules to recover expenses relating to the Money and Pensions Service
621. 137SBRules to recover debt advice expenses incurred by the devolved authorities
622. Supplementary powers
623. 137TGeneral supplementary powers
624. Chapter 2: Rules: modification, waiver, contravention and procedural provisions
625. Modification or waiver of rules
626. 138AModification or waiver of rules
627. 138BPublication of directions under section 138A
628. 138BADisapplication or modification of rules in individual cases
629. Contravention of rules
630. 138CEvidential provisions
631. 138DActions for damages
632. 138ELimits on effect of contravening rules
633. Procedural provisions
634. 138EAMatters to consider when making rules
635. 138FNotification of rules
636. 138GRule-making instruments
637. 138HVerification of rules
638. 138IConsultation by the FCA
639. 138IAFCA Cost Benefit Analysis Panel
640. 138IBStatement of policy in relation to cost benefit analyses
641. 138JConsultation by the PRA
642. 138JAPRA Cost Benefit Analysis Panel
643. 138JBStatement of policy in relation to cost benefit analyses
644. 138KConsultation: mutual societies
645. 138LConsultation: general exemptions
646. 138MConsultation: exemptions for temporary product intervention rules
647. 138NTemporary product intervention rules: statement of policy
648. 138OStatement of policy under section 138N: procedure
649. Chapter 2A: Technical Standards
650. 138PTechnical standards
651. 138QStandards instruments
652. 138RTreasury approval
653. 138SApplication of Chapters 1 and 2
654. Chapter 3: Guidance
655. 139APower of the FCA to give guidance
656. 139BNotification of FCA guidance to the Treasury
657. Chapter 4: Competition scrutiny
658. 140AInterpretation
659. 140BAdvice about effect of regulating provision or practice
660. 140CConsultation with regulator
661. 140DInvestigation powers of CMA
662. 140EPublication by CMA of section 140B advice
663. 140FDuty of CMA to send report to regulator
664. 140GDuty of regulator to publish response
665. 140HRole of the Treasury
666. Chapter 5: Power to make consequential amendments
667. 141APower to make consequential amendments of references to rules etc.
668. 141BPower to consequentially amend enactments
669. Part 9B: Ring-fencing
670. Introductory
671. 142A“Ring-fenced body”
672. 142BCore activities
673. 142CCore services
674. 142DExcluded activities
675. 142EPower of Treasury to impose prohibitions
676. 142FOrders under section 142A, 142B, 142D or 142E
677. Ring-fenced bodies not to carry on excluded activities or contravene prohibitions
678. 142GRing-fenced bodies not to carry on excluded activities or contravene prohibitions
679. Ring-fencing rules
680. 142HRing-fencing rules
681. 142IPowers of Treasury in relation to ring-fencing rules
682. 142JReview of ring-fencing rules etc
683. Group restructuring powers
684. 142KCases in which group restructuring powers become exercisable
685. 142LGroup restructuring powers
686. 142MProcedure: preliminary notices
687. 142NProcedure: warning notice and decision notice
688. 142OReferences to Tribunal
689. 142PSubsequent variation of requirement or direction
690. 142QConsultation etc. between regulators
691. 142RRelationship with regulators' powers under Parts 4A and 12A
692. Failure of parent undertaking to comply with direction
693. 142SPower to impose penalty or issue censure
694. 142TProcedure and right to refer to Tribunal
695. 142UDuty on publication of statement
696. 142VImposition of penalties under section 142S: statement of policy
697. Pension liabilities
698. 142WPension liabilities
699. 142XFurther interpretative provisions for section 142W
700. Loss-absorbency requirements
701. 142YPower of Treasury in relation to loss-absorbency requirements
702. General
703. 142ZAffirmative procedure in relation to certain orders under Part 9B
704. 142Z1Interpretation of Part 9B
705. Part 9C: Prudential regulation of FCA investment firms
706. Interpretation
707. 143AFCA investment firms
708. 143BOther terms used in this Part
709. Rules
710. 143CDuty to make rules applying to FCA investment firms
711. 143DDuty to make rules applying to parent undertakings
712. 143EPowers to make rules applying to parent undertakings
713. 143FPart 9C rules
714. 143GMatters to consider when making Part 9C rules
715. 143HExplanation to accompany consultation on rules
716. 143IExceptions from sections 143G and 143H
717. Requirement to have UK parent undertaking
718. 143JRequirement to have UK parent undertaking
719. Imposition of requirements on non-authorised parent undertakings
720. 143KImposition of requirements on non-authorised parent undertakings
721. 143LApplications under section 143K
722. 143MDetermination of applications under section 143K
723. 143NRefusal of applications under section 143K
724. 143OExercise of own-initiative power under section 143K
725. 143PRight to refer matters to the Tribunal
726. 143QAssets requirements
727. Control of managers etc of non-authorised parent undertakings
728. 143RManagers of non-authorised parent undertakings
729. 143SPart 9C prohibition orders
730. 143TProcedure for making a Part 9C prohibition order
731. 143UVarying and withdrawing a Part 9C prohibition order
732. 143VOffence of breaching a Part 9C prohibition order
733. Disciplinary measures for non-authorised parent undertakings
734. 143WDisciplinary measures
735. 143XProcedure for disciplinary measures
736. 143YStatement of policy for penalties under section 143W
737. 143ZProcedure for statement of policy
738. Part 9D: Prudential regulation of credit institutions etc
739. Interpretation
740. 144ACRR rules
741. 144BTerms used in this Part
742. Making CRR rules
743. 144CMatters to consider when making CRR rules
744. 144DExplanation to accompany consultation on CRR rules
745. 144EExceptions from sections 144C and 144D etc
746. 144FPower to consequentially amend enactments Repealed
747. Content of CRR rules
748. 144GDisapplication or modification of CRR rules in individual cases
749. 144HRelationship with the capital requirements regulation
750. Part X: Rules and Guidance
751. Chapter I: Rule-making Powers Repealed
752. 138General rule-making power. Repealed
753. 139Miscellaneous ancillary matters. Repealed
754. 139AGeneral rules about remuneration Repealed
755. 139BRules about recovery plans Repealed
756. 139CRules about resolution plans Repealed
757. 139DSections 139B and 139C: interpretation Repealed
758. 139ERules about recovery and resolution plans: supplementary provision Repealed
759. 139FSpecial provision in relation to resolution plans Repealed
760. 140Restriction on managers of certain collective investment schemes. Repealed
761. 141Insurance business rules. Repealed
762. 142Insurance business: regulations supplementing Authority’s rules. Repealed
763. 143Endorsement of codes etc. Repealed
764. Specific rules Repealed
765. 144Price stabilising rules. Repealed
766. 145Financial promotion rules. Repealed
767. 146Money laundering rules. Repealed
768. 147Control of information rules. Repealed
769. Modification or waiver Repealed
770. 148Modification or waiver of rules. Repealed
771. Contravention of rules Repealed
772. 149Evidential provisions. Repealed
773. 150Actions for damages. Repealed
774. 151Limits on effect of contravening rules. Repealed
775. Procedural provisions Repealed
776. 152Notification of rules to the Treasury. Repealed
777. 153Rule-making instruments. Repealed
778. 154Verification of rules. Repealed
779. 155Consultation. Repealed
780. 156General supplementary powers. Repealed
781. Chapter II: Guidance Repealed
782. 157Guidance. Repealed
783. 158Notification of guidance to the Treasury. Repealed
784. 158AGuidance on outsourcing by investment firms and credit institutions Repealed
785. Chapter III: Competition Scrutiny Repealed
786. 159Interpretation. Repealed
787. 160Reports by OFT. Repealed
788. 161Power of OFT to request information. Repealed
789. 162Consideration by Competition Commission. Repealed
790. 163Role of the Treasury. Repealed
791. 164The Competition Act 1998. Repealed
792. Part XI: Information Gathering and Investigations
793. Powers to gather information
794. 165Regulators power to require information : authorised persons etc.
795. 165APRA's power to require information: financial stability
796. 165BSafeguards etc in relation to exercise of power under section 165A
797. 165COrders under section 165A(2)(d)
798. 166Reports by skilled persons.
799. 166AAppointment of skilled person to collect and update information
800. Appointment of investigators
801. 167Appointment of persons to carry out general investigations.
802. 168Appointment of persons to carry out investigations in particular cases.
803. Assistance to overseas regulators
804. 169Investigations etc. in support of overseas regulator.
805. 169ASupport of overseas regulator with respect to financial stability
806. Conduct of investigations
807. 170Investigations: general.
808. 171Powers of persons appointed under section 167.
809. 172Additional power of persons appointed as a result of section 168(1) , (4) or (4B).
810. 173Powers of persons appointed as a result of section 168(2).
811. 174Admissibility of statements made to investigators.
812. 175Information and documents: supplemental provisions.
813. 176Entry of premises under warrant.
814. 176ARetention of documents taken under section 176
815. Offences
816. 177Offences.
817. Interpretation
818. 177AInterpretation of Part 11
819. Part XII: Control Over Authorised Persons
820. Notices of acquisitions of control over UK authorised persons
821. 178Obligation to notify the appropriate regulator: acquisitions of control
822. 179Requirements for section 178 notices
823. 180Acknowledgment of receipt
824. Acquiring control and other changes of holding
825. 181Acquiring control
826. 182Increasing control
827. 183Reducing or ceasing to have control
828. 184Disregarded holdings
829. Assessment procedure
830. 185Assessment: general
831. 186Assessment criteria
832. 187Approval with conditions
833. 187AAssessment: consultation by PRA with FCA
834. 187BAssessment: consultation by FCA with PRA
835. 187CVariation etc of conditions
836. 188Assessment: consultation with EC competent authorities Repealed
837. 189Assessment: Procedure
838. 190Requests for further information
839. 190AAssessment and resolution
840. 191Duration of approval
841. Enforcement procedures
842. 191AObjection by the appropriate regulator
843. 191BRestriction notices
844. 191COrders for sale of shares
845. Notice of reductions of control of UK authorised persons
846. 191DObligation to notify the appropriate regulator: dispositions of control
847. 191ERequirements for notices under section 191D
848. Offences
849. 191FOffences under this Part
850. Interpretation
851. 191GInterpretation
852. Miscellaneous
853. 192Power to change definitions of control etc.
854. Part 12A: Powers exercisable in relation to parent undertakings
855. Introductory
856. 192AMeaning of “qualifying authorised person”
857. 192BMeaning of “qualifying parent undertaking”
858. Power of direction
859. 192CPower to direct qualifying parent undertaking
860. 192DRequirements that may be imposed
861. 192EDirection: procedure
862. 192FConsultation between regulators
863. 192GReferences to Tribunal
864. 192HStatement of policy: directions under section 192C
865. 192IStatement of policy relating to directions: procedure
866. Rules requiring provision of information by parent undertakings
867. 192JRules requiring provision of information by parent undertakings
868. Rules applying to parent undertakings of ring-fenced bodies
869. 192JARules applying to parent undertakings of ring-fenced bodies
870. Rules requiring parent undertakings to facilitate resolution
871. 192JBRules requiring parent undertakings to facilitate resolution
872. Failure to comply with direction or breach of rules
873. 192KPower to impose penalty or issue censure
874. 192LProcedure and right to refer to Tribunal
875. 192MDuty on publication of statement
876. 192NImposition of penalties under section 192K: statement of policy
877. Part 12B: Approval of certain holding companies
878. Interpretation
879. 192OInterpretation
880. Approval
881. 192PRequirement for approval
882. 192QApplication for approval or exemption
883. 192RGrant of approval
884. 192SRegulator’s duty to monitor
885. 192TMeasures
886. 192UDirections: procedure
887. 192VRules imposing consolidated or sub-consolidated requirements Repealed
888. 192WConsultation between regulators
889. 192XReferences to Tribunal
890. Rules
891. 192XARules applying to holding companies
892. 192XBProcedural provision
893. 192XCDisapplication or modification of rules in individual cases
894. 192YPower to impose penalty or issue censure
895. 192ZProcedure and right to refer to Tribunal
896. 192Z1Duty on publication of statement
897. 192Z2Directions and penalties: statement of policy
898. 192Z3Statement of policy relating to directions: procedure
899. Part XIII: Incoming Firms: Intervention by FCA or PRA
900. Interpretation
901. 193Interpretation of this Part. Repealed
902. 194General grounds on which power of intervention is exercisable. Repealed
903. 194AContravention by relevant EEA firm with UK branch of requirement under markets in financial instruments directive: appropriate regulator primarily responsible for securing compliance Repealed
904. 194BContravention by relevant EEA firm of requirement in capital requirements directive or capital requirements regulation Repealed
905. 194CContravention by relevant EEA firm with UK branch of requirement in mortgages directive: appropriate regulator primarily responsible for securing compliance Repealed
906. 194DContravention by relevant EEA firm of requirement in insurance distribution directive: appropriate regulator primarily responsible for securing compliance Repealed
907. 195Exercise of power in support of overseas regulator.
908. 195AContravention by relevant EEA firm , EEAUCITS or EEAAIFM of directive requirements: home state regulator primarily responsible for securing compliance Repealed
909. 195BContravention by relevant EEA firm of requirement in mortgages directive: home state regulator primarily responsible for securing compliance Repealed
910. 195CContravention by relevant EEA firm of requirement in insurance distribution directive: home state regulator primarily responsible for securing compliance Repealed
911. 196The power of intervention. Repealed
912. Exercise of power of intervention
913. 197Procedure on exercise of power of intervention. Repealed
914. 198Power to apply to court for injunction in respect of certain overseas insurance companies. Repealed
915. 199Additional procedure for EEA firms in certain cases. Repealed
916. 199AManagement companies: loss of authorisation Repealed
917. Supplemental
918. 200Rescission and variation of requirements. Repealed
919. 201Effect of certain requirements on other persons Repealed
920. 202Contravention of requirement imposed under this Part. Repealed
921. Powers of Office of Fair Trading
922. 203Power to prohibit the carrying on of Consumer Credit Act business. Repealed
923. 204Power to restrict the carrying on of Consumer Credit Act business. Repealed
924. Part 13A: Enhanced supervision of firms exercising rights under the Insurance Distribution Directive Repealed
925. 203AInsurance distribution directive: enhanced supervision of EEA firms by UK regulators Repealed
926. 203BInsurance distribution directive: enhanced supervision of UK firms by an EEA regulator Repealed
927. 203CModification or waiver of rules where firm subject to enhanced supervision Repealed
928. 203DPublication of directions under section 203C Repealed
929. Part XIV: Disciplinary Measures
930. 204AMeaning of “relevant requirement” and “appropriate regulator”
931. 205Public censure.
932. 206Financial penalties.
933. 206ASuspending permission to carry on regulated activities etc
934. 206BProhibition or restriction on carrying on of relevant designated activities
935. 207Proposal to take disciplinary measures.
936. 208Decision notice.
937. 208AApplications under section 206B(4): procedure and right to refer to Tribunal
938. 209Publication.
939. 210Statements of policy.
940. 211Statements of policy: procedure.
941. Part XV: The Financial Services Compensation Scheme
942. The scheme manager
943. 212The scheme manager.
944. The scheme
945. 213The compensation scheme.
946. Provisions of the scheme
947. 214General.
948. 214AContingency funding Not yet in force
949. 214BContribution to costs of special resolution regime
950. 214CLimit on amount of special resolution regime payments
951. 214DContributions under section 214B: supplementary
952. 214ERecapitalisation payments
953. 214FRecapitalisation payment: report
954. 214GNotification to Parliamentary Committees
955. 214HReimbursement in respect of a recapitalisation payment
956. 215Rights of the scheme in insolvency
957. 215AContinuity etc. of funeral plan contracts
958. 215BScheme manager’s power to require assistance from liquidator etc. in relation to funeral plan contracts
959. 216Continuity of long-term insurance policies.
960. 217Insurers in financial difficulties.
961. 217ZAInsurers subject to write-down orders
962. 217ZBRecovery of financial assistance under section 217ZA
963. Relationship with the regulators
964. 217ACo-operation
965. Annual plan and report
966. 217BAnnual plan
967. 218Annual report.
968. 218ZAAudit of accounts
969. Information and documents
970. 218ARegulators' power to require information
971. 218BTreasury's power to require information from scheme manager Repealed
972. 219Scheme manager’s power to require information.
973. 220Scheme manager’s power to inspect information held by liquidator etc.
974. 220APower to inspect information held by write-down manager
975. 221Powers of court where information required.
976. Miscellaneous
977. 221ADelegation of functions
978. 222Statutory immunity.
979. 223Management expenses.
980. 223AInvesting in National Loans Fund Not yet in force
981. 223BBorrowing from National Loans Fund
982. 223CPayments in error
983. 224Scheme manager’s power to inspect documents held by Official Receiver etc.
984. 224ZADischarge of functions
985. 224AFunctions under the Banking Act 2009
986. Part 15A: Power to require FSCS manager to act in relation to other schemes
987. Introduction
988. 224BMeaning of “relevant scheme” etc
989. Power to require FSCS manager to act
990. 224CPower to require FSCS manager to act on behalf of manager of relevant scheme
991. 224DCases where FSCS manager may decline to act
992. 224EGrounds for declining to act
993. Rules
994. 224FRules about relevant schemes
995. Part XVI: The Ombudsman Scheme
996. The scheme
997. 225The scheme and the scheme operator.
998. 226Compulsory jurisdiction.
999. 226AConsumer credit jurisdiction Repealed
1000. 227Voluntary jurisdiction.
1001. Determination of complaints
1002. 228Determination under the compulsory jurisdiction.
1003. 229Awards.
1004. 230Costs.
1005. 230AReports of determinations
1006. Information
1007. 231Ombudsman’s power to require information.
1008. 232Powers of court where information required.
1009. 232AScheme operator's duty to provide information to FCA
1010. 233Data protection.
1011. Funding
1012. 234Industry funding.
1013. 234AFunding by consumer credit licensees etc. Repealed
1014. Successors to businesses
1015. 234BTransfers of liability
1016. Part 16A: Consumer protection and competition
1017. Super-complaints and references to FCA
1018. 234CComplaints by consumer bodies
1019. 234DReference by scheme operator or regulated person
1020. 234EResponse by FCA
1021. 234FSection 234E: exceptions
1022. 234GGuidance
1023. Competition
1024. 234HPower of FCA to make request to Competition and Markets Authority Repealed
1025. 234IThe FCA's functions under Part 4 of the Enterprise Act 2002
1026. 234JThe FCA's functions under the Competition Act 1998
1027. 234KDuty to consider exercise of powers under Competition Act 1998
1028. 234LProvision of information and assistance to a CMA group
1029. 234MFunction of keeping market under review
1030. 234NExclusion of general duties
1031. 234OSupplementary provision
1032. Part XVII: Collective Investment Schemes
1033. Chapter I: Interpretation
1034. 235Collective investment schemes.
1035. 235AContractual schemes
1036. 236Open-ended investment companies.
1037. 236AMeaning of “UCITS”
1038. 237Other definitions.
1039. Chapter II: Restrictions on Promotion
1040. 238Restrictions on promotion.
1041. 239Single property schemes.
1042. 240Restriction on approval of promotion.
1043. 241Actions for damages.
1044. Chapter 2A: PROHIBITION ON ISSUE OF BEARER UNITS
1045. 241ABearer units no longer to be issued
1046. Chapter III: Authorised Unit Trust Schemes
1047. Applications for authorisation
1048. 242Applications for authorisation of unit trust schemes.
1049. 243Authorisation orders : authorised unit trust schemes.
1050. 243AAuthorisation orders: authorised money market funds
1051. 244Determination of applications.
1052. Applications refused
1053. 245Procedure when refusing an application.
1054. Certificates
1055. 246Certificates.
1056. Rules
1057. 247Trust scheme rules.
1058. 248Scheme particulars rules.
1059. 249Disciplinary measures
1060. 250Modification or waiver of rules.
1061. Alterations
1062. 251Alteration of schemes and changes of manager or trustee.
1063. 252Procedure when refusing approval of a proposal under section 251.
1064. 252AProposal to convert to a non-feeder UCITS
1065. Exclusion clauses
1066. 253Avoidance of exclusion clauses.
1067. Ending of authorisation
1068. 254Revocation of authorisation order otherwise than by consent.
1069. 255Procedure.
1070. 256Requests for revocation of authorisation order.
1071. Powers of intervention
1072. 257Directions.
1073. 258Applications to the court.
1074. 258AWinding up or merger of master UCITS
1075. 259Procedure on giving directions under section 257 or 258A and varying them on FCA's own initiative.
1076. 260Procedure: refusal to revoke or vary direction.
1077. 261Procedure: revocation of direction and grant of request for variation.
1078. 261AInformation for home state regulator Repealed
1079. 261BInformation for feeder UCITS
1080. Chapter 3A: AUTHORISED CONTRACTUAL SCHEMES
1081. Applications for authorisation
1082. 261CApplications for authorisation of contractual schemes
1083. 261DAuthorisation orders : authorised contractual schemes
1084. 261EAuthorised contractual schemes: holding of units
1085. 261EAAuthorisation orders: authorised money market funds
1086. 261FDetermination of applications
1087. Applications refused
1088. 261GProcedure when refusing an application
1089. Certificates
1090. 261HCertificates
1091. Rules
1092. 261IContractual scheme rules
1093. 261JContractual scheme particulars rules
1094. 261KDisciplinary measures
1095. 261LModification or waiver of rules
1096. Co-ownership schemes: rights and liabilities of participants
1097. 261MContracts
1098. 261NEffect of becoming or ceasing to be a participant
1099. 261OLimited liability
1100. 261PSegregated liability in relation to umbrella co-ownership schemes
1101. Alterations
1102. 261QAlteration of contractual schemes and changes of operator or depositary
1103. 261RProcedure when refusing approval of a proposal under section 261Q
1104. 261SProposal to convert to a non-feeder UCITS
1105. Exclusion clauses
1106. 261TAvoidance of exclusion clauses
1107. Ending of authorisation
1108. 261URevocation of authorisation order otherwise than by consent
1109. 261VProcedure for revoking authorisation order
1110. 261WRequests for revocation of authorisation order
1111. Powers of intervention
1112. 261XDirections
1113. 261YApplications to the court
1114. 261ZWinding up or merger of master UCITS
1115. 261Z1Procedure on giving directions under section 261X or 261Z and varying them on FCA’s own initiative
1116. 261Z2Procedure: refusal to revoke or vary direction
1117. 261Z3Procedure: revocation of direction and grant of request for variation
1118. 261Z4Information for home state regulator Repealed
1119. 261Z5Information for feeder UCITS
1120. Chapter 3B: Unauthorised co-ownership AIFs
1121. 261Z6Power to make provision about unauthorised co-ownership AIFs
1122. Chapter IV: Open-ended Investment Companies
1123. 262Open-ended investment companies.
1124. 263Amendment of section 716 Companies Act 1985.
1125. Chapter V: Recognised Overseas Schemes
1126. Schemes constituted in other EEA States
1127. 264Schemes constituted in other EEA States. Repealed
1128. 265Representations and references to the Tribunal. Repealed
1129. 266Disapplication of rules. Repealed
1130. 267Power of FCA to suspend promotion of scheme. Repealed
1131. 268Procedure on giving directions under section 267 and varying them on FCA's own initiative. Repealed
1132. 269Procedure on application for variation or revocation of direction. Repealed
1133. ...
1134. 270Schemes authorised in designated countries or territories. Repealed
1135. 271Procedure. Repealed
1136. Schemes authorised in approved countries
1137. 271ASchemes authorised in approved countries
1138. 271BApproval of country: equivalent protection afforded to participants
1139. 271CApproval of country: regulatory co-operation
1140. 271DReport by the FCA in relation to approval
1141. 271EPower to impose requirements on schemes
1142. 271FApplication for recognition to the FCA
1143. 271GDetermination of applications
1144. 271HProcedure when determining an application
1145. 271IObligations on operator of a section 271A scheme
1146. 271JProvision of information to the FCA
1147. 271KRules as to scheme particulars
1148. 271LSuspension of recognition
1149. 271MProcedure when suspending recognition
1150. 271NRevocation of recognition on the FCA's initiative
1151. 271ORequests for revocation of recognition
1152. 271PObligations on operator where recognition is revoked or suspended
1153. 271QEffect of variation or revocation of Treasury regulations
1154. 271RPublic censure
1155. 271SRecognition of parts of schemes under section 271A
1156. Individually recognised overseas schemes
1157. 272Individually recognised overseas schemes.
1158. 273Matters that may be taken into account.
1159. 274Applications for recognition of individual schemes.
1160. 275Determination of applications.
1161. 276Procedure when refusing an application.
1162. 277Alteration of schemes and changes of operator, trustee or depositary.
1163. 277ARegular provision of information relating to compliance with requirements for recognition
1164. ...
1165. 278Rules as to scheme particulars.
1166. 279Revocation of recognition.
1167. 280Procedure.
1168. 281Directions.
1169. 282Procedure on giving directions under section 281 and varying them otherwise than as requested.
1170. 282AObligations on operator where recognition is revoked or suspended
1171. 282BPublic censure
1172. 282CRecognition of parts of schemes under section 272
1173. Facilities and information in UK
1174. 283Facilities and information in UK.
1175. Chapter 5A: MASTER-FEEDER STRUCTURES
1176. 283AMaster-feeder structures
1177. 283BReports on derivative instruments
1178. Chapter VI: Investigations
1179. 284Power to investigate.
1180. Part 17A: Transformer Vehicles
1181. 284ATransformer vehicles
1182. Part XVIII: Recognised investment exchanges, clearing houses , CSDs and other parties
1183. Chapter I: Exemption
1184. General
1185. 285Exemption for recognised bodies etc.
1186. 285APowers exercisable in relation to recognised bodies etc
1187. 286Qualification for recognition.
1188. Applications for recognition
1189. 287Application by an investment exchange.
1190. 287AApplication by an investment exchange: persons connected with an applicant Repealed
1191. 288Application by a clearing house.
1192. 288AApplication by a central securities depository
1193. 289Applications: supplementary.
1194. 290Recognition orders.
1195. 290ZAVariation of central counterparty recognition order
1196. 290ZBVariation of CSD recognition order
1197. 290ARefusal of recognition on ground of excessive regulatory provision
1198. 291Liability in relation to recognised body’s regulatory functions.
1199. 292Overseas investment exchanges and overseas clearing houses.
1200. Publication of information by recognised investment exchange
1201. 292APublication of information by recognised investment exchange
1202. Supervision
1203. 293Notification requirements.
1204. 293AInformation: compliance with specified requirements
1205. 294Modification or waiver of rules.
1206. 295Notification: overseas investment exchanges and overseas clearing houses.
1207. 295AOn-site inspection of United Kingdom branches of third country CSDs
1208. 296Appropriate regulator's power to give directions.
1209. 296AAdditional power to direct recognised central counterparties
1210. 297Revoking recognition.
1211. 298Directions and revocation: procedure.
1212. 299Complaints about recognised bodies.
1213. 300Extension of functions of Tribunal.
1214. Power to disallow excessive regulatory provision
1215. 300APower of appropriate regulator to disallow excessive regulatory provision
1216. 300BDuty to notify proposal to make regulatory provision
1217. 300CRestriction on making provision before appropriate regulator decides whether to act
1218. 300DConsideration by appropriate regulator whether to disallow proposed provision
1219. 300EPower to disallow excessive regulatory provision: supplementary
1220. General rule-making powers
1221. 300FRules relating to central counterparties and central securities depositories
1222. 300GSection 300F: rules in relation to overseas FMI entities
1223. 300HRules relating to investment exchanges and data reporting service providers
1224. Bank of England rules
1225. 300IDuty of Bank of England to review rules
1226. 300JStatement of policy relating to review of rules
1227. 300KRequirement to review specified rules
1228. 300LReport on certain reviews
1229. 300MPower of Treasury to require making of rules by regulations
1230. Other matters
1231. 301Supervision of certain contracts.
1232. Chapter 1A: CONTROL OVER RECOGNISED INVESTMENT EXCHANGE
1233. Notices of acquisitions of control over recognised investment exchanges
1234. 301AObligation to notify the FCA: acquisitions of control
1235. 301BRequirements for section 301A notices
1236. 301CAcknowledgment of receipt
1237. Acquiring and increasing control
1238. 301DAcquiring and increasing control
1239. 301EDisregarded holdings
1240. Assessment procedure
1241. 301FAssessment: general
1242. 301GAssessment: Procedure
1243. 301HDuration of approval
1244. Enforcement procedures
1245. 301IObjections by the FCA
1246. 301JRestriction notices
1247. 301KOrders for sale of shares
1248. Offences
1249. 301LOffences under this Chapter
1250. Interpretation
1251. 301MInterpretation
1252. Chapter II: Competition Scrutiny
1253. 302Interpretation. Repealed
1254. Role of Office of Fair Trading
1255. 303Initial report by OFT. Repealed
1256. 304Further reports by OFT. Repealed
1257. 305Investigations by OFT. Repealed
1258. Role of Competition Commission
1259. 306Consideration by Competition Commission. Repealed
1260. Role of the Treasury
1261. 307Recognition orders: role of the Treasury. Repealed
1262. 308Directions by the Treasury. Repealed
1263. 309Statements by the Treasury. Repealed
1264. 310Procedure on exercise of certain powers by the Treasury. Repealed
1265. Chapter 2A: Performance of functions of recognised bodies
1266. Relevant recognised bodies
1267. 309ARecognised bodies to which this Chapter applies
1268. Prohibition
1269. 309BPart 18 prohibition orders
1270. 309CProcedure for making Part 18 prohibition orders
1271. 309DVarying and withdrawing Part 18 prohibition orders
1272. 309EOffence of breaching prohibition
1273. 309FDuty in relation to prohibited individuals
1274. Approval
1275. 309GRequirement for approval
1276. 309HRules under section 309G(3): transitional provision
1277. 309IApplications for approval
1278. 309JVetting by relevant recognised bodies
1279. 309KDetermining applications: power to grant approval
1280. 309LDetermining applications: period for approval
1281. 309MDetermining applications: further procedure
1282. 309NChanges in responsibilities
1283. 309OWithdrawing approval
1284. 309PProcedure for withdrawing approval
1285. 309QVarying approval at request of relevant recognised body
1286. 309RVarying approval on the appropriate regulator’s initiative
1287. 309SStatement of policy on approval
1288. 309TBreach of statutory duty by relevant recognised bodies
1289. 309UPower to impose penalties
1290. 309VProcedure for imposing penalties
1291. 309WStatement of policy on penalties
1292. 309XProcedure for statement of policy on penalties
1293. Certification of employees
1294. 309YCertification of employees by relevant recognised bodies
1295. 309ZIssuing certificates
1296. Rules of conduct
1297. 309Z1Rules of conduct
1298. Disciplinary action by appropriate regulator
1299. 309Z2Power to take disciplinary action for misconduct
1300. 309Z3Meaning of “misconduct”
1301. 309Z4Procedure for disciplinary action
1302. 309Z5Statement of policy about disciplinary action
1303. 309Z6Procedure for statement of policy about disciplinary action
1304. Interpretation
1305. 309Z7Interpretation of Chapter 2A
1306. Application of this Chapter to credit rating agencies
1307. 309Z8Power to apply this Chapter to credit rating agencies
1308. Chapter III: Exclusion from the Competition Act 1998
1309. 311The Chapter I prohibition. Repealed
1310. 312The Chapter II prohibition. Repealed
1311. Chapter 3A: PASSPORT RIGHTS Repealed
1312. EEA market operators in United Kingdom Repealed
1313. 312AExercise of passport rights by EEA market operator Repealed
1314. 312BRemoval of passport rights from EEA market operator Repealed
1315. Recognised investment exchanges operating in EEA States (other than the United Kingdom) Repealed
1316. 312CExercise of passport rights by recognised investment exchange Repealed
1317. Interpretation Repealed
1318. 312DInterpretation of Chapter 3A Repealed
1319. Chapter 3B: Disciplinary measures in respect of recognised bodies
1320. 312EPublic censure
1321. 312FFinancial penalties
1322. 312FACentral securities depositories: further disciplinary measures
1323. 312GProposal to take disciplinary measures
1324. 312HDecision notice
1325. 312IPublication
1326. 312JStatement of policy
1327. 312KStatement of policy: procedure
1328. Chapter 3C: Critical third parties
1329. 312LCritical third parties
1330. 312MPower to make rules
1331. 312NPower of direction
1332. 312ODirections: procedure
1333. 312PInformation gathering and investigations
1334. 312QPower of censure
1335. 312RDisciplinary measures
1336. 312SProcedure and right to refer to Tribunal
1337. 312TStatement of policy relating to disciplinary measures
1338. 312UDuty to ensure co-ordinated exercise of functions etc
1339. 312VMemorandum of understanding
1340. 312WApplication of provisions of this Act to this Chapter
1341. Chapter IV
1342. Interpretation
1343. 313Interpretation of Part XVIII.
1344. Part 18A: SUSPENSION AND REMOVAL OF FINANCIAL INSTRUMENTS FROM TRADING
1345. 313AFCA's power to require suspension or removal of financial instruments from trading
1346. 313BSuspension or removal of financial instruments from trading: procedure
1347. 313BAProcedure following consideration of representations
1348. 313BBRevocation of requirements: applications by institutions
1349. 313BCDecisions on applications for revocation by institutions
1350. 313BDRevocation of requirements: applications by issuers
1351. 313BEDecisions on applications for revocation by issuers
1352. 313CNotification in relation to suspension or removal of a financial instrument from trading Repealed
1353. 313CASuspension or removal of financial instruments from trading: notification and trading on other venues
1354. 313CBSuspension or removal of a financial instrument from a trading by a trading venue: FCA duties
1355. 313CBASignificant damage to investors’ interests or orderly functioning of market
1356. 313CCSuspension or removal of a financial instrument from trading in another EEA state: FCA duties Repealed
1357. 313DInterpretation of Part 18A
1358. Part XIX: Lloyd’s
1359. General
1360. 314Regulators' general duty.
1361. 314AThe PRA's objectives in relation to Lloyd's etc
1362. The Society
1363. 315The Society: regulated activities
1364. Power to apply Act to Lloyd’s underwriting
1365. 316Direction by a regulator
1366. 317The core provisions.
1367. 318Exercise of powers through Council.
1368. 319Consultation.
1369. Former underwriting members
1370. 320Former underwriting members.
1371. 321Requirements imposed under section 320.
1372. 322Rules applicable to former underwriting members.
1373. Transfers of business done at Lloyd’s
1374. 323Transfer schemes.
1375. Supplemental
1376. 324Interpretation of this Part.
1377. Part XX: Provision of Financial Services by Members of the Professions
1378. 325FCA's general duty.
1379. 326Designation of professional bodies.
1380. 327Exemption from the general prohibition.
1381. 328Directions in relation to the general prohibition.
1382. 329Orders in relation to the general prohibition.
1383. 330Consultation.
1384. 331Procedure on making or varying orders under section 329.
1385. 332Rules in relation to persons to whom the general prohibition does not apply.
1386. 333False claims to be a person to whom the general prohibition does not apply.
1387. Part 20A: PENSIONS GUIDANCE Repealed
1388. 333AIntroduction and definitions Repealed
1389. Giving of pensions guidance Repealed
1390. 333BSecretary of State’s role in relation to pensions guidance Repealed
1391. 333CGiving of pensions guidance Repealed
1392. 333DFinancial assistance to bodies involved in giving pensions guidance Repealed
1393. Designation of guidance providers Repealed
1394. 333EDesignation of providers of pensions guidance Repealed
1395. Co-operation and information sharing Repealed
1396. 333FCo-operation and information sharing Repealed
1397. False claims when giving pensions guidance Repealed
1398. 333GOffence of falsely claiming to be giving pensions guidance under arrangements made with Secretary of State Repealed
1399. Standards for giving of pensions guidance by designated guidance providers Repealed
1400. 333HStandards for giving of pensions guidance by designated guidance providers Repealed
1401. 333IMonitoring of compliance with standards by designated guidance providers Repealed
1402. 333JFailure by designated guidance providers to comply with standards: FCA recommendations Repealed
1403. 333KFCA policy on making recommendations under section 333J Repealed
1404. 333LFCA policy on making recommendations under section 333J: procedure Repealed
1405. 333MFailure by designated guidance providers to comply with standards: ... directions Repealed
1406. 333NDirections to designated guidance providers under section 333M: relationship with power to revoke a designation Repealed
1407. FCA's duties and power to give guidance Repealed
1408. 333OFCA's duties Repealed
1409. 333PPower of the FCA to give guidance Repealed
1410. Funding of pensions guidance Repealed
1411. 333QFunding of FCA's pensions guidance costs Repealed
1412. 333RFunding of Secretary of State’s pensions guidance costs Repealed
1413. Part 20B: Illegal Money Lending
1414. 333SFinancial assistance for action against illegal money lending
1415. 333TFunding of action against illegal money lending
1416. Part XXI: Mutual Societies
1417. Friendly societies
1418. 334The Friendly Societies Commission.
1419. 335The Registry of Friendly Societies. Repealed
1420. Building societies
1421. 336The Building Societies Commission. Repealed
1422. 337The Building Societies Investor Protection Board. Repealed
1423. Industrial and provident societies and credit unions
1424. 338Industrial and provident societies and credit unions. Repealed
1425. Supplemental
1426. 339Supplemental provisions. Repealed
1427. Part XXII: Auditors and Actuaries
1428. General duties of regulator
1429. 339AGeneral duties of PRA in relation to auditors
1430. 339BDuty to meet auditors of certain institutions
1431. 339CPRA-authorised persons to which this section applies
1432. Appointment
1433. 340Appointment.
1434. Information
1435. 341Access to books etc.
1436. 342Information given by auditor or actuary to a regulator.
1437. 343Information given by auditor or actuary to a regulator: persons with close links.
1438. 344Duty of auditor or actuary resigning etc. to give notice.
1439. Disciplinary measures
1440. 345Disciplinary measures: FCA
1441. 345ADisciplinary measures: PRA
1442. 345BProcedure and right to refer to Tribunal
1443. 345CDuty on publication of statement
1444. 345DImposition of penalties on auditors or actuaries: statement of policy
1445. 345EStatements of policy: procedure
1446. Offence
1447. 346Provision of false or misleading information to auditor or actuary.
1448. Part XXIII: Public Record, Disclosure of Information and Co-operation
1449. The public record
1450. 347The record of authorised persons etc.
1451. 347ADuty of PRA to disclose information relevant to the record
1452. Disclosure of information
1453. 348Restrictions on disclosure of confidential information by FCA, PRA etc.
1454. 349Exceptions from section 348.
1455. 350Disclosure of information by the Inland Revenue.
1456. 351Competition information. Repealed
1457. 351ADisclosure under the UCITS directive
1458. 352Offences.
1459. 353Removal of other restrictions on disclosure.
1460. Information received from Bank of England
1461. 353AInformation received from Bank of England
1462. Co-operation
1463. 354Authority’s duty to co-operate with others. Repealed
1464. 354AFCA's duty to co-operate with others
1465. 354BPRA's duty to co-operate with others
1466. 354CPRA's duty to provide information to Bank of England Repealed
1467. Provision of information to ESMA, the Commission and other EEA States
1468. 354DInformation under the markets in financial instruments directive Repealed
1469. 354ECompetent authorities under the markets in financial instruments directive: designation and co-operation Repealed
1470. 354FInformation under the transparency obligations directive Repealed
1471. 354GInformation under the UCITS directive Repealed
1472. 354HInformation under the Insurance Distribution Directive Repealed
1473. Part XXIV: Insolvency
1474. Interpretation
1475. 355Interpretation of this Part.
1476. Arrangements and reconstructions: companies in financial difficulty
1477. 355APowers of FCA and PRA to participate in proceedings
1478. 355BEnforcement of requirements imposed by section 355A
1479. Voluntary arrangements
1480. 356Powers of FCA and PRA to participate in proceedings: company voluntary arrangements.
1481. 357Powers of FCA and PRA to participate in proceedings: individual voluntary arrangements.
1482. 358Powers of FCA and PRA to participate in proceedings: trust deeds for creditors in Scotland.
1483. Administration orders
1484. 359Administration order
1485. 360Insurers.
1486. 361Administrator’s duty to report to FCA and PRA
1487. 362Powers of FCA and PRA to participate in proceedings.
1488. 362AAdministrator appointed by company or directors
1489. Receivership
1490. 363Powers of FCA and PRA to participate in proceedings.
1491. 364Receiver’s duty to report to FCA and PRA
1492. Voluntary winding up
1493. 365Powers of FCA and PRA to participate in proceedings.
1494. 366Insurers effecting or carrying out long-term contracts or insurance.
1495. Winding up by the court
1496. 367Winding-up petitions.
1497. 368Winding-up petitions: EEA and Treaty firms. Repealed
1498. 369Insurers: service of petition etc. on FCA and PRA.
1499. 369AReclaim funds: service of petition etc on FCA and PRA
1500. 370Liquidator's duty to report to FCA and PRA
1501. 371Powers of FCA and PRA to participate in proceedings.
1502. Bankruptcy
1503. 372Petitions.
1504. 373Insolvency practitioner’s duty to report to FCA and PRA.
1505. 374Powers of FCA or PRA to participate in proceedings.
1506. Provisions against debt avoidance
1507. 375Right of FCA and PRA to apply for an order.
1508. Supplemental provisions concerning insurers
1509. 376Continuation of contracts of long-term insurance where insurer in liquidation.
1510. 377Reducing the value of contracts instead of winding up. Repealed
1511. 377AWrite-down orders
1512. 377BExcluded liabilities
1513. 377CApplication for a write-down order
1514. 377DPowers of the FCA and PRA to participate in proceedings
1515. 377EPowers of the court
1516. 377FDuty to notify creditors
1517. 377GThe manager
1518. 377HWrite-down order ceasing to have effect
1519. 377IVariation or revocation of a write-down order
1520. 377JFurther provision about write-down orders
1521. 377KInsurers in financial difficulties: enforcement of contracts
1522. 378Treatment of assets on winding up.
1523. 379Winding-up rules.
1524. Settlement finality
1525. 379APower to apply settlement finality regime to payment institutions
1526. Part XXV: Injunctions and Restitution
1527. Injunctions
1528. 380Injunctions.
1529. 381Injunctions in cases of market abuse.
1530. Restitution orders
1531. 382Restitution orders.
1532. 383Restitution orders in cases of market abuse.
1533. Restitution required by FCA or PRA
1534. 384Power of FCA or PRA to require restitution.
1535. 385Warning notices.
1536. 386Decision notices.
1537. Part XXVI: Notices
1538. Warning notices
1539. 387Warning notices.
1540. Decision notices
1541. 388Decision notices.
1542. Conclusion of proceedings
1543. 389Notices of discontinuance.
1544. 390Final notices.
1545. Publication
1546. 391Publication.
1547. 391APublication: special provisions relating to capital requirements
1548. 391BPublication: special provisions relating to transparency obligations
1549. 391CPublication: special provisions relating to UCITS
1550. 391DPublication: special provisions relating to markets in financial instruments
1551. 391EPublication: special provisions relating to insurance distribution
1552. 391FPublication: special provisions relating to the prospectus regulation Repealed
1553. Third party rights and access to evidence
1554. 392Application of sections 393 and 394.
1555. 393Third party rights.
1556. 394Access to FCA or PRA material.
1557. The FCA's and PRA's procedures
1558. 395The FCA's and PRA's procedures.
1559. 396Statements under section 395: consultation.
1560. Part XXVII: Offences
1561. Miscellaneous offences
1562. 397Misleading statements and practices. Repealed
1563. 398Misleading FCA or PRA: residual cases.
1564. 399Misleading the CMA.
1565. Bodies corporate and partnerships
1566. 400Offences by bodies corporate etc.
1567. Institution of proceedings
1568. 401Proceedings for offences.
1569. 402Power of FCA to institute proceedings for certain other offences.
1570. 403Jurisdiction and procedure in respect of offences.
1571. Part XXVIII: Miscellaneous
1572. Consumer redress schemes
1573. 404Consumer redress schemes
1574. 404ARules under s.404: supplementary
1575. 404BComplaints to the ombudsman scheme
1576. 404CEnforcement
1577. 404DApplications to Tribunal to quash rules or provision of rules
1578. 404EMeaning of “consumers”
1579. 404FOther definitions etc
1580. 404GPower to widen the scope of consumer redress schemes
1581. Third countries
1582. 405Directions. Repealed
1583. 406Interpretation of section 405. Repealed
1584. 407Consequences of a direction under section 405. Repealed
1585. 408EFTA firms. Repealed
1586. 409Gibraltar.
1587. International powers and obligations
1588. 409AConsultation in relation to deference decisions
1589. 409BNotification in relation to international trade obligations
1590. 410International obligations.
1591. Fees to meet Treasury expenses
1592. 410AFees to meet certain expenses of the Treasury
1593. 410BDirections in pursuance of section 410A
1594. Tax treatment of levies and repayments
1595. 411Tax treatment of levies and repayments.
1596. Gaming contracts
1597. 412Gaming contracts.
1598. Trade-matching and reporting systems
1599. 412AApproval and monitoring of trade-matching and reporting systems Repealed
1600. 412BProcedure for approval and suspension or withdrawal of approval Repealed
1601. Limitation on powers to require documents
1602. 413Protected items.
1603. Service of notices
1604. 414Service of notices.
1605. Jurisdiction
1606. 415Jurisdiction in civil proceedings.
1607. Powers under the Act
1608. 415APowers under the Act
1609. 415AAApplication of powers to formerly authorised persons
1610. Consultation and co-operation
1611. 415BConsultation in relation to taking certain enforcement action
1612. 415CCo-operation and consultation in relation to exercise of functions
1613. Removal of certain unnecessary provisions
1614. 416Provisions relating to industrial assurance and certain other enactments.
1615. Sustainability disclosure requirements
1616. 416ASDR policy statement
1617. 416BFCA and PRA rules etc
1618. Part XXIX: Interpretation
1619. 417Definitions.
1620. 418Carrying on regulated activities in the United Kingdom.
1621. 419Carrying on regulated activities by way of business.
1622. 419AClaims management services
1623. 419BCarrying on claims management activity in Great Britain
1624. 420Parent and subsidiary undertaking.
1625. 421Group.
1626. 421ZAImmediate group
1627. 421AMeaning of “participating interest”
1628. 422Controller.
1629. 422ADisregarded holdings
1630. 423Manager.
1631. 423AMortgage agreements etc
1632. 424Insurance.
1633. 424AInvestment firm
1634. 425Expressions relating to authorisation ... in the single market.
1635. 425AConsumers: regulated activities etc carried on by authorised persons
1636. 425BConsumers: regulated activities carried on by others
1637. 425C“Qualifying provision”
1638. Part XXX: Supplemental
1639. 426Consequential and supplementary provision.
1640. 427Transitional provisions.
1641. 428Regulations and orders.
1642. 429Parliamentary control of statutory instruments.
1643. 430Extent.
1644. 431Commencement.
1645. 432Minor and consequential amendments, transitional provisions and repeals.
1646. 433Short title.
1647. Schedule 1: The Financial Services Authority Repealed
1648. Part I: General Repealed
1649. Interpretation Repealed
1650. 1Paragraph 1 Repealed
1651. Constitution Repealed
1652. 2Paragraph 2 Repealed
1653. Non-executive members of the governing body Repealed
1654. 3Paragraph 3 Repealed
1655. Functions of the non-executive committee Repealed
1656. 4Paragraph 4 Repealed
1657. Arrangements for discharging functions Repealed
1658. 5Paragraph 5 Repealed
1659. Monitoring and enforcement Repealed
1660. 6Paragraph 6 Repealed
1661. Arrangements for the investigation of complaints Repealed
1662. 7Paragraph 7 Repealed
1663. Investigation of complaints Repealed
1664. 8Paragraph 8 Repealed
1665. Records Repealed
1666. 9Paragraph 9 Repealed
1667. Annual report Repealed
1668. 10Paragraph 10 Repealed
1669. Annual public meeting Repealed
1670. 11Paragraph 11 Repealed
1671. Report of annual meeting Repealed
1672. 12Paragraph 12 Repealed
1673. Part II: Status Repealed
1674. 13Paragraph 13 Repealed
1675. Exemption from requirement of “limited” in Authority’s name Repealed
1676. 14Paragraph 14 Repealed
1677. 15Paragraph 15 Repealed
1678. Part III: Penalties and Fees Repealed
1679. Penalties Repealed
1680. 16Paragraph 16 Repealed
1681. Fees Repealed
1682. 17Paragraph 17 Repealed
1683. Services for which fees may not be charged Repealed
1684. 18Paragraph 18 Repealed
1685. Part IV: Miscellaneous Repealed
1686. Exemption from liability in damages Repealed
1687. 19Paragraph 19 Repealed
1688. 19AParagraph 19A Repealed
1689. Amounts required by rules to be paid to the Authority Repealed
1690. 19BParagraph 19B Repealed
1691. Disqualification for membership of House of Commons Repealed
1692. 20Paragraph 20 Repealed
1693. Disqualification for membership of Northern Ireland Assembly Repealed
1694. 21Paragraph 21 Repealed
1695. Schedule 1ZA: The Financial Conduct Authority
1696. Part 1: General
1697. Interpretation
1698. 1Paragraph 1
1699. Constitution
1700. 2Paragraph 2
1701. 2AParagraph 2A
1702. 2BParagraph 2B
1703. 3Paragraph 3
1704. 4Paragraph 4
1705. 5Paragraph 5
1706. 6Paragraph 6
1707. 6AParagraph 6A
1708. Remuneration
1709. 7Paragraph 7
1710. Arrangements for discharging functions
1711. 8Paragraph 8
1712. Records
1713. 9Paragraph 9
1714. Publication of record of meetings of governing body
1715. 10Paragraph 10
1716. Annual report
1717. 11Paragraph 11
1718. Other reports
1719. 11AParagraph 11A
1720. Annual public meeting
1721. 12Paragraph 12
1722. Report of annual meeting
1723. 13Paragraph 13
1724. Accounts and audit
1725. 14Paragraph 14
1726. 15Paragraph 15
1727. Part 2: Status
1728. Status
1729. 16Paragraph 16
1730. Exemption from requirement for use of “limited” in name of FCA
1731. 17Paragraph 17
1732. 18Paragraph 18
1733. Part 3: Penalties and fees
1734. Penalties
1735. 19Paragraph 19
1736. 20Paragraph 20
1737. 21Paragraph 21
1738. 22Paragraph 22
1739. Fees
1740. 23Paragraph 23
1741. Services for which fees may not be charged
1742. 24Paragraph 24
1743. Part 4: Miscellaneous
1744. Exemption from liability in damages
1745. 25Paragraph 25
1746. Accredited financial investigators
1747. 26Paragraph 26
1748. Amounts required by rules to be paid to the FCA
1749. 27Paragraph 27
1750. Engagement with Parliamentary Committees
1751. 28Paragraph 28
1752. 29Paragraph 29
1753. Schedule 1ZB: The Prudential Regulation Authority
1754. Part 1: General
1755. Interpretation
1756. 1Paragraph 1
1757. Constitution
1758. 2Paragraph 2 Repealed
1759. 3Paragraph 3 Repealed
1760. 4Paragraph 4 Repealed
1761. 5Paragraph 5 Repealed
1762. Appointed members of governing body
1763. 6Paragraph 6 Repealed
1764. 7Paragraph 7 Repealed
1765. 8Paragraph 8 Repealed
1766. 9Paragraph 9 Repealed
1767. 10Paragraph 10 Repealed
1768. 11Paragraph 11 Repealed
1769. 12Paragraph 12 Repealed
1770. 13Paragraph 13 Repealed
1771. 14Paragraph 14 Repealed
1772. Terms of service
1773. 15Paragraph 15 Repealed
1774. Arrangements for discharging functions
1775. 16Paragraph 16 Repealed
1776. Records
1777. 17Paragraph 17
1778. Budget
1779. 18Paragraph 18 Repealed
1780. Annual report
1781. 19Paragraph 19
1782. Consultation about annual report
1783. 20Paragraph 20
1784. Report on consultation
1785. 21Paragraph 21
1786. Other reports
1787. 21AParagraph 21A
1788. Accounts and audit
1789. 22Paragraph 22 Repealed
1790. 23Paragraph 23 Repealed
1791. Part 2: Status
1792. Status
1793. 24Paragraph 24 Repealed
1794. Exemption from requirement for use of “limited” in name of PRA
1795. 25Paragraph 25 Repealed
1796. 26Paragraph 26 Repealed
1797. Part 3: Penalties and fees
1798. Penalties
1799. 27Paragraph 27
1800. 28Paragraph 28
1801. 29Paragraph 29
1802. 30Paragraph 30
1803. Fees
1804. 31Paragraph 31
1805. Services for which fees may not be charged
1806. 32Paragraph 32
1807. Part 4: Miscellaneous
1808. Exemption from liability in damages
1809. 33Paragraph 33
1810. Accredited financial investigators
1811. 34Paragraph 34
1812. Amounts required by rules to be paid to the PRA
1813. 35Paragraph 35
1814. Engagement with Parliamentary Committees
1815. 36Paragraph 36
1816. 37Paragraph 37
1817. Schedule 1A: Further provision about the consumer financial education body Repealed
1818. Part 1: General Repealed
1819. Ensuring exercise of consumer financial education function etc Repealed
1820. 1Paragraph 1 Repealed
1821. Constitution Repealed
1822. 2Paragraph 2 Repealed
1823. Status Repealed
1824. 3Paragraph 3 Repealed
1825. Discharge of function by others Repealed
1826. 4Paragraph 4 Repealed
1827. 5Paragraph 5 Repealed
1828. Discharge of functions: considerations Repealed
1829. 6Paragraph 6 Repealed
1830. Relationship with the FCA Repealed
1831. 6AParagraph 6A Repealed
1832. 6BParagraph 6B Repealed
1833. Budget Repealed
1834. 7Paragraph 7 Repealed
1835. Annual plan Repealed
1836. 8Paragraph 8 Repealed
1837. Annual reports Repealed
1838. 9Paragraph 9 Repealed
1839. Audit of accounts Repealed
1840. 9AParagraph 9A Repealed
1841. ... Repealed
1842. 10Paragraph 10 Repealed
1843. Part 2: Funding Repealed
1844. Meaning of “the relevant costs” Repealed
1845. 11Paragraph 11 Repealed
1846. Funding of the relevant costs by authorised persons , payment service providers or electronic money issuers Repealed
1847. 12Paragraph 12 Repealed
1848. Funding of the relevant costs by consumer credit licensees etc Repealed
1849. 13Paragraph 13 Repealed
1850. Funding by grants or loans etc made by Treasury or Secretary of State Repealed
1851. 14Paragraph 14 Repealed
1852. Part 3: Reviews Repealed
1853. Reviews of economy etc of the consumer financial education body Repealed
1854. 15Paragraph 15 Repealed
1855. Right to obtain documents and information Repealed
1856. 16Paragraph 16 Repealed
1857. Schedule 2: Regulated Activities
1858. Part I: Regulated activities: general
1859. General
1860. 1Paragraph 1
1861. Dealing in investments
1862. 2Paragraph 2
1863. Arranging deals in investments
1864. 3Paragraph 3
1865. Deposit taking
1866. 4Paragraph 4
1867. Safekeeping and administration of assets
1868. 5Paragraph 5
1869. Managing investments
1870. 6Paragraph 6
1871. Investment advice
1872. 7Paragraph 7
1873. Establishing collective investment schemes
1874. 8Paragraph 8
1875. Using computer-based systems for giving investment instructions
1876. 9Paragraph 9
1877. Part 1A: Regulated activities: reclaim funds
1878. 9AActivities of reclaim funds
1879. Part II: Investments
1880. General
1881. 10Paragraph 10
1882. Securities
1883. 11Paragraph 11
1884. Instruments creating or acknowledging indebtedness
1885. 12Paragraph 12
1886. Government and public securities
1887. 13Paragraph 13
1888. Instruments giving entitlement to investments
1889. 14Paragraph 14
1890. Certificates representing securities
1891. 15Paragraph 15
1892. Units in collective investment schemes
1893. 16Paragraph 16
1894. Options
1895. 17Paragraph 17
1896. Futures
1897. 18Paragraph 18
1898. Contracts for differences
1899. 19Paragraph 19
1900. Contracts of insurance
1901. 20Paragraph 20
1902. Participation in Lloyd’s syndicates
1903. 21Paragraph 21
1904. Deposits
1905. 22Paragraph 22
1906. Loans and other forms of credit
1907. 23Paragraph 23
1908. Other finance arrangements involving land
1909. 23AParagraph 23A
1910. Contracts for hire of goods
1911. 23BParagraph 23B
1912. Rights in investments
1913. 24Paragraph 24
1914. Part 2A: Regulated activities relating to information about persons' financial standing
1915. 24AGeneral
1916. 24BProviding credit reference services
1917. 24CProviding credit information services
1918. 24DProviding credit information services
1919. Part 2B: Regulated activities relating to the setting of benchmarks Repealed
1920. 24EGeneral Repealed
1921. 24FProviding information Repealed
1922. 24GAdministration Repealed
1923. 24HDetermining or publishing benchmark or publishing connected information Repealed
1924. Part III: Supplemental Provisions
1925. The order-making power
1926. 25Paragraph 25
1927. Parliamentary control
1928. 26Paragraph 26
1929. Interpretation
1930. 27Paragraph 27
1931. Schedule 2A: Gibraltar-based persons carrying on activities in the UK
1932. Part 1: Interpretation etc
1933. Gibraltar-based person
1934. 1Paragraph 1
1935. Regulators
1936. 2Paragraph 2
1937. Activities and branches
1938. 3Paragraph 3
1939. UK regulators' objectives
1940. 4Paragraph 4
1941. Part 2: Approved activities
1942. Approval of regulated activities
1943. 5Paragraph 5
1944. Corresponding activities regulated in Gibraltar
1945. 6Paragraph 6
1946. Objectives
1947. 7Paragraph 7
1948. Alignment of law and practice
1949. 8Paragraph 8
1950. Co-operation
1951. 9Paragraph 9
1952. Consultation
1953. 10Paragraph 10
1954. Withdrawal of approval
1955. 11Paragraph 11
1956. Part 3: Permission to carry on an approved activity
1957. Obtaining permission to carry on an approved activity
1958. 12Paragraph 12
1959. Schedule 2A permission
1960. 13Paragraph 13
1961. The appropriate UK regulator
1962. 14Paragraph 14
1963. Notifying the appropriate UK regulator
1964. 15Paragraph 15
1965. Considering a notification
1966. 16Paragraph 16
1967. Rejecting a notification
1968. 17Paragraph 17
1969. Duties to reject
1970. 18Paragraph 18
1971. Power to reject: prohibition order in respect of senior manager
1972. 19Paragraph 19
1973. Power to reject: loss of access right and serious threat to the UK
1974. 20Paragraph 20
1975. Part 4: Variation of permission
1976. Variation of permission
1977. 21Paragraph 21
1978. Gibraltar regulator's initiative: notification
1979. 22Paragraph 22
1980. Gibraltar regulator's initiative: the appropriate UK regulator
1981. 23Paragraph 23
1982. Gibraltar regulator's initiative: notifying the UK regulator
1983. 24Paragraph 24
1984. Gibraltar regulator's initiative: considering a notification
1985. 25Paragraph 25
1986. Gibraltar regulator's initiative: rejecting a notification
1987. 26Paragraph 26
1988. UK regulator's initiative
1989. 27Paragraph 27
1990. Own-initiative conditions
1991. 28Paragraph 28
1992. UK regulator's initiative: procedure
1993. 29Paragraph 29
1994. Right to refer matters to the Tribunal
1995. 30Paragraph 30
1996. Part 5: Cancellation of permission
1997. Cancellation of permission
1998. 31Paragraph 31
1999. Gibraltar regulator's initiative: notification
2000. 32Paragraph 32
2001. Gibraltar regulator's initiative: the appropriate UK regulator
2002. 33Paragraph 33
2003. Gibraltar regulator's initiative: notifying the UK regulator
2004. 34Paragraph 34
2005. Gibraltar regulator's initiative: considering a notification
2006. 35Paragraph 35
2007. Gibraltar regulator's initiative: rejecting a notification
2008. 36Paragraph 36
2009. UK regulator's initiative
2010. 37Paragraph 37
2011. UK regulator's initiative: procedure
2012. 38Paragraph 38
2013. Right to refer matters to the Tribunal
2014. 39Paragraph 39
2015. Part 6: Requirements
2016. Requirements
2017. 40Paragraph 40
2018. Imposing requirements in connection with Part 3 or 4 notification
2019. 41Paragraph 41
2020. Imposing requirements in connection with Part 3 or 4 notification: procedure
2021. 42Paragraph 42
2022. Right to refer matters to the Tribunal
2023. 43Paragraph 43
2024. Gibraltar regulator's initiative: notification
2025. 44Paragraph 44
2026. Gibraltar regulator's initiative: the appropriate UK regulator
2027. 45Paragraph 45
2028. Gibraltar regulator's initiative: notifying the UK regulator
2029. 46Paragraph 46
2030. Gibraltar regulator's initiative: considering a notification
2031. 47Paragraph 47
2032. Gibraltar regulator's initiative: rejecting a notification
2033. 48Paragraph 48
2034. UK regulator's initiative: imposing, varying and cancelling requirements
2035. 49Paragraph 49
2036. UK regulator's initiative: procedure for imposing or varying requirements
2037. 50Paragraph 50
2038. UK regulator's initiative: procedure for cancellation
2039. 51Paragraph 51
2040. Right to refer matters to the Tribunal
2041. 52Paragraph 52
2042. Assets requirements
2043. 53Paragraph 53
2044. Further provision about requirements
2045. 54Paragraph 54
2046. Contravention of requirement imposed under this Part
2047. 55Paragraph 55
2048. Part 7: Changes
2049. Duty to notify UK regulators of changes
2050. 56Paragraph 56
2051. Part 8: UK regulators' directions about information
2052. Directions about information to be included in notifications
2053. 57Paragraph 57
2054. Part 9: Transition on withdrawal of approval of regulated activity etc
2055. Transition on withdrawal of approval of regulated activity
2056. 58Paragraph 58
2057. Transition on Gibraltar activity ceasing to be corresponding activity
2058. 59Paragraph 59
2059. Restricting transitional permission
2060. 60Paragraph 60
2061. Directions about protected contracts
2062. 61Paragraph 61
2063. Right to refer matters to the Tribunal
2064. 62Paragraph 62
2065. Further powers
2066. 63Paragraph 63
2067. Part 10: Transition on cancellation of UK or Gibraltar permission
2068. Transition on cancellation of Schedule 2A permission
2069. 64Paragraph 64
2070. Transition on cancellation of Gibraltar permission
2071. 65Paragraph 65
2072. The appropriate UK regulator
2073. 66Paragraph 66
2074. Directions about protected contracts
2075. 67Paragraph 67
2076. End of transition
2077. 68Paragraph 68
2078. End of transition: procedure
2079. 69Paragraph 69
2080. Right to refer matters to the Tribunal
2081. 70Paragraph 70
2082. Part 11: Policy statements
2083. Policy statements
2084. 71Paragraph 71
2085. Policy statements: procedure
2086. 72Paragraph 72
2087. Part 12: Consultation etc by UK regulators
2088. FCA's duties to consult the PRA
2089. 73Paragraph 73
2090. FCA's duties to obtain consent from the PRA
2091. 74Paragraph 74
2092. FCA's duties to inform the PRA
2093. 75Paragraph 75
2094. PRA's duties to consult the FCA
2095. 76Paragraph 76
2096. PRA's duty to obtain consent from the FCA
2097. 77Paragraph 77
2098. PRA's duties to inform the FCA
2099. 78Paragraph 78
2100. UK regulators' duties to inform the Gibraltar regulator
2101. 79Paragraph 79
2102. Part 13: Co-operation and Assistance
2103. Duties to co-operate
2104. 80Paragraph 80
2105. Publication and review of arrangements for co-operation
2106. 81Paragraph 81
2107. Provision of reports to assist the Treasury
2108. 82Paragraph 82
2109. Part 14: Special cases
2110. Gibraltar-based individuals carrying on insurance distribution activities
2111. 83Paragraph 83
2112. Schedule 3: EEA Passport Rights
2113. Part I: Defined terms
2114. The single market directives
2115. 1Paragraph 1
2116. The banking co-ordination directives
2117. 2Paragraph 2 Repealed
2118. The Solvency 2 Directive
2119. 3Paragraph 3 Repealed
2120. The reinsurance directive
2121. 3AParagraph 3A Repealed
2122. The investment services directive
2123. 4Paragraph 4 Repealed
2124. The insurance distribution directive
2125. 4AParagraph 4A
2126. The UCITS directive
2127. 4BParagraph 4B
2128. The markets in financial instruments directive
2129. 4CParagraph 4C
2130. 4DThe emission allowance auctioning regulation
2131. The alternative investment fund managers directive
2132. 4EParagraph 4E
2133. The mortgages directive
2134. 4FParagraph 4F
2135. EEA firm
2136. 5Paragraph 5
2137. 5AParagraph 5A
2138. EEA authorisation
2139. 6Paragraph 6 Repealed
2140. EEA right
2141. 7Paragraph 7
2142. 7AParagraph 7A
2143. EEA State
2144. 8Paragraph 8
2145. Home state regulator
2146. 9Paragraph 9
2147. UK firm
2148. 10Paragraph 10
2149. 10AParagraph 10A
2150. UK investment firm
2151. 10BParagraph 10B
2152. Host state regulator
2153. 11Paragraph 11
2154. Tied agent
2155. 11AParagraph 11A
2156. Management company
2157. 11BParagraph 11B
2158. UCITS
2159. 11CParagraph 11C Repealed
2160. EEAAIFM
2161. 11DParagraph 11D Repealed
2162. Part II: Exercise of Passport Rights by EEA Firms Repealed
2163. Firms qualifying for authorisation Repealed
2164. 12Paragraph 12 Repealed
2165. Establishment Repealed
2166. 13Paragraph 13 Repealed
2167. Services Repealed
2168. 14Paragraph 14 Repealed
2169. Grant of permission Repealed
2170. 15Paragraph 15 Repealed
2171. 15ZAGrant of permission: bidding for emission allowances Repealed
2172. Power to restrict permission of management companies Repealed
2173. 15AApplication for approval to manage UCITS Repealed
2174. 15BRepresentations and references to the Tribunal Repealed
2175. 15CInformation to home state regulator Repealed
2176. Effect of carrying on regulated activity when not qualified for authorisation Repealed
2177. 16Paragraph 16 Repealed
2178. Continuing regulation of European Economic AreaEEA firms Repealed
2179. 17Paragraph 17 Repealed
2180. Giving up right to authorisation Repealed
2181. 18Paragraph 18 Repealed
2182. Part III: Exercise of Passport Rights by UK Firms Repealed
2183. Meaning of “the appropriate UK regulator” Repealed
2184. 18AParagraph 18A Repealed
2185. Establishment Repealed
2186. 19Paragraph 19 Repealed
2187. Services Repealed
2188. 20Paragraph 20 Repealed
2189. 20ZAInformation for host state regulator Repealed
2190. Tied agents Repealed
2191. 20AParagraph 20A Repealed
2192. 20BNotice of intention to market a UCITS Repealed
2193. Notice of intention to market an Alternative Investment FundAIF Repealed
2194. 20CParagraph 20C Repealed
2195. Offence relating to exercise of passport rights Repealed
2196. 21Paragraph 21 Repealed
2197. Continuing regulation of United KingdomUK firms Repealed
2198. 22Paragraph 22 Repealed
2199. 23Paragraph 23 Repealed
2200. 24Paragraph 24 Repealed
2201. Arrangements between FCA and PRA Repealed
2202. 24AParagraph 24A Repealed
2203. Information to be included in the public record Repealed
2204. 25Paragraph 25 Repealed
2205. 26UK management companies: delegation of functions Repealed
2206. 27UK management companies: withdrawal of authorisation Repealed
2207. 28Management companies: request for information Repealed
2208. Full-scope United KingdomUKAlternative Investment Fund ManagersAIFMs: notification of breach by host state regulator Repealed
2209. 29Paragraph 29 Repealed
2210. Schedule 4: Treaty Rights Repealed
2211. Definitions Repealed
2212. 1Paragraph 1 Repealed
2213. Firms qualifying for authorisation Repealed
2214. 2Paragraph 2 Repealed
2215. Exercise of Treaty rights Repealed
2216. 3Paragraph 3 Repealed
2217. Notification between UK regulators Repealed
2218. 3AParagraph 3A Repealed
2219. Permission Repealed
2220. 4Paragraph 4 Repealed
2221. Notice to United KingdomUK regulator Repealed
2222. 5Paragraph 5 Repealed
2223. Offences Repealed
2224. 6Paragraph 6 Repealed
2225. Schedule 5: Persons Concerned in Collective Investment Schemes
2226. Authorisation
2227. 1Paragraph 1
2228. Permission
2229. 2Paragraph 2
2230. Schedule 6: Threshold Conditions
2231. Part 1: Introduction
2232. 1AParagraph 1A
2233. Part 1B: Part 4A permission: authorised persons who are not PRA-authorised persons
2234. 2AIntroduction
2235. 2BLocation of offices
2236. 2CEffective supervision
2237. 2DAppropriate resources
2238. 2ESuitability
2239. 2FBusiness model
2240. 2GInterpretation
2241. Part 1C: Part 4A permission: conditions for which FCA is responsible in relation to PRA-authorised persons
2242. 3AIntroduction
2243. 3BEffective supervision
2244. 3CAppropriate non-financial resources
2245. 3DSuitability
2246. 3EBusiness model
2247. Part 1D: Part 4A permission: conditions for which the PRA is responsible in relation to insurers etc.
2248. 4AIntroduction
2249. 4BLegal status
2250. 4CLocation of offices
2251. 4DBusiness to be conducted in a prudent manner
2252. 4ESuitability
2253. 4FEffective supervision
2254. Part 1E: Part 4A permission: conditions for which the PRA is responsible in relation to other PRA-authorised persons
2255. 5AIntroduction
2256. 5BLegal status
2257. 5CLocation of offices
2258. 5DBusiness to be conducted in a prudent manner
2259. 5ESuitability
2260. 5FEffective supervision
2261. Part 1F: Authorisation under Schedule 3 Repealed
2262. 6AParagraph 6A Repealed
2263. Part 1G: Authorisation under Schedule 4 Repealed
2264. 7AParagraph 7A Repealed
2265. Part II: Authorisation
2266. Authorisation under Schedule 3
2267. ...Paragraph ... Repealed
2268. Part III: Additional Conditions
2269. 8Paragraph 8
2270. 9Paragraph 9 Repealed
2271. Schedule 6A: Variation or cancellation of Part 4A permission on initiative of FCA: additional power
2272. Additional power
2273. 1Paragraph 1
2274. Procedure etc
2275. 2Paragraph 2
2276. Notice of decision
2277. 3Paragraph 3
2278. Application for decision to be annulled
2279. 4Paragraph 4
2280. Annulment etc
2281. 5Paragraph 5
2282. Effect
2283. 6Paragraph 6
2284. Right to refer matter to Tribunal
2285. 7Paragraph 7
2286. Supplementary
2287. 8Paragraph 8
2288. Schedule 6B: Designated activities
2289. 1Introductory
2290. 2Derivatives
2291. 3Derivatives
2292. 4Short selling
2293. 5Securitisation
2294. 6Securitisation
2295. 7Financial markets
2296. 8Financial markets
2297. 9Using a benchmark
2298. 10Using a benchmark
2299. 11Using a benchmark
2300. 12Contributing to a benchmark
2301. 13Contributing to a benchmark
2302. Schedule 6C: LISTED DESIGNATED ACTIVITY REGULATIONS AND REQUIREMENTS FOR PURPOSES OF CERTAIN PROVISIONS
2303. 1PROVISIONS DESIGNATING RELEVANT DESIGNATED ACTIVITIES
2304. 2RELEVANT PART 5A REQUIREMENTS FOR PURPOSES OF SPECIFIED PROVISIONS
2305. 3RELEVANT PART 5A DIRECTIONS FOR PURPOSES OF CHAPTER 2 OF PART 5A
2306. Schedule 7
2307. Part The Authority as Competent Authority for Part VI Repealed
2308. General Repealed
2309. 1Paragraph 1 Repealed
2310. The Authority’s general functions Repealed
2311. 2Paragraph 2 Repealed
2312. Duty to consult Repealed
2313. 3Paragraph 3 Repealed
2314. Rules Repealed
2315. 4Paragraph 4 Repealed
2316. Statements of policy Repealed
2317. 5Paragraph 5 Repealed
2318. Penalties Repealed
2319. 6Paragraph 6 Repealed
2320. Fees Repealed
2321. 7Paragraph 7 Repealed
2322. Exemption from liability in damages Repealed
2323. 8Paragraph 8 Repealed
2324. Schedule 8
2325. Part Transfer of functions under Part VI Repealed
2326. The power to transfer Repealed
2327. 1Paragraph 1 Repealed
2328. Supplemental Repealed
2329. 2Paragraph 2 Repealed
2330. 3Paragraph 3 Repealed
2331. Schedule 9
2332. General application of Part VI
2333. 1Paragraph 1
2334. References to listing particulars
2335. 2Paragraph 2
2336. General duty of disclosure
2337. 3Paragraph 3
2338. Supplementary prospectuses
2339. 4Paragraph 4
2340. Exemption from liability for compensation
2341. 5Paragraph 5
2342. Advertisements
2343. 6Paragraph 6
2344. Fees
2345. 7Paragraph 7
2346. Schedule 10: Compensation: Exemptions
2347. Statements believed to be true
2348. 1Paragraph 1
2349. Statements by experts
2350. 2Paragraph 2
2351. Corrections of statements
2352. 3Paragraph 3
2353. Corrections of statements by experts
2354. 4Paragraph 4
2355. Official statements
2356. 5Paragraph 5
2357. False or misleading information known about
2358. 6Paragraph 6
2359. Belief that supplementary listing particulars not called for
2360. 7Paragraph 7
2361. Meaning of “expert”
2362. 8Paragraph 8
2363. Schedule 10A: LIABILITY OF ISSUERS IN CONNECTION WITH PUBLISHED INFORMATION
2364. Part 1: SCOPE OF THIS SCHEDULE
2365. 1Securities to which this Schedule applies
2366. 2Published information to which this Schedule applies
2367. Part 2: LIABILITY IN CONNECTION WITH PUBLISHED INFORMATION
2368. 3Liability of issuer for misleading statement or dishonest omission
2369. 4Paragraph 4
2370. 5Liability of issuer for dishonest delay in publishing information
2371. 6Meaning of dishonesty
2372. 7Exclusion of certain other liabilities
2373. Part 3: SUPPLEMENTARY PROVISIONS
2374. 8Interpretation
2375. Schedule 11
2376. The general rule
2377. 1Paragraph 1
2378. Exempt offers
2379. 2Paragraph 2
2380. Offers for business purposes
2381. 3Paragraph 3
2382. Offers to limited numbers
2383. 4Paragraph 4
2384. Clubs and associations
2385. 5Paragraph 5
2386. Restricted circles
2387. 6Paragraph 6
2388. Underwriting agreements
2389. 7Paragraph 7
2390. Offers to public authorities
2391. 8Paragraph 8
2392. Maximum consideration
2393. 9Paragraph 9
2394. Minimum consideration
2395. 10Paragraph 10
2396. Securities denominated in euros
2397. 11Paragraph 11
2398. Takeovers
2399. 12Paragraph 12
2400. Mergers
2401. 13Paragraph 13
2402. Free shares
2403. 14Paragraph 14
2404. Exchange of shares
2405. 15Paragraph 15
2406. Qualifying persons
2407. 16Paragraph 16
2408. Convertible securities
2409. 17Paragraph 17
2410. Charities
2411. 18Paragraph 18
2412. Building societies etc.
2413. 19Paragraph 19
2414. Euro-securities
2415. 20Paragraph 20
2416. Same class securities
2417. 21Paragraph 21
2418. Short date securities
2419. 22Paragraph 22
2420. Government and public securities
2421. 23Paragraph 23
2422. Non-transferable securities
2423. 24Paragraph 24
2424. 24AUnits in a collective investment scheme
2425. General definitions
2426. 25Paragraph 25
2427. Schedule 11A: TRANSFERABLE SECURITIES
2428. Part 1 Repealed
2429. 1Paragraph 1 Repealed
2430. 2Paragraph 2 Repealed
2431. 3Paragraph 3 Repealed
2432. 4Paragraph 4 Repealed
2433. 5Paragraph 5 Repealed
2434. 6Paragraph 6 Repealed
2435. Part 2
2436. 7Paragraph 7 Repealed
2437. 8Paragraph 8 Repealed
2438. 9Paragraph 9 Repealed
2439. Schedule 11B: CONNECTED PERSONS Repealed
2440. Part 1: MEANING OF “CONNECTED PERSON” Repealed
2441. 1Introduction Repealed
2442. 2Meaning of “connected person” Repealed
2443. 3Family members Repealed
2444. 4Associated bodies corporate Repealed
2445. 5Control of a body corporate Repealed
2446. 6Supplementary provisions Repealed
2447. Part 2: CONNECTED PERSONS: REFERENCES TO AN INTEREST IN SHARES OR DEBENTURES Repealed
2448. 7Introduction Repealed
2449. 8General provisions Repealed
2450. 9Rights to acquire shares Repealed
2451. 10Right to exercise or control exercise of rights Repealed
2452. 11Bodies corporate Repealed
2453. 12Trusts Repealed
2454. Schedule 12: Transfer schemes: certificates
2455. Part I: Insurance Business Transfer Schemes
2456. 1Paragraph 1
2457. Certificates as to margin of solvency
2458. 2Paragraph 2
2459. Certificates as to consultation
2460. 3Paragraph 3 Repealed
2461. Certificates as to consent
2462. 3AParagraph 3A Repealed
2463. Certificates as to long-term business
2464. 4Paragraph 4 Repealed
2465. Certificates as to general business
2466. 5Paragraph 5 Repealed
2467. Certificates as to legality and as to consent
2468. 5AParagraph 5A Repealed
2469. Interpretation of Part I
2470. 6Paragraph 6 Repealed
2471. Part II: Banking Business Transfer Schemes
2472. 7Paragraph 7
2473. Certificates as to financial resources
2474. 8Paragraph 8
2475. Certificates as to consent of home state regulator
2476. 9Paragraph 9 Repealed
2477. Part 2A: Reclaim fund business transfer schemes
2478. 9ACertificate as to financial resources
2479. Part 2B: Ring-fencing transfer schemes
2480. 9BAppropriate certificates
2481. 9CCertificate as to financial resources
2482. 9DCertificate as to consent of home state regulator Repealed
2483. Part III: Insurance business transfers effected outside the United Kingdom
2484. 10Paragraph 10
2485. Schedule 13
2486. Part I: General
2487. Interpretation
2488. 1Paragraph 1
2489. Part II: The Tribunal
2490. President
2491. 2Paragraph 2
2492. Panels
2493. 3Paragraph 3
2494. Terms of office etc
2495. 4Paragraph 4
2496. Remuneration and expenses
2497. 5Paragraph 5
2498. Staff
2499. 6Paragraph 6
2500. Part III: Constitution of Tribunal
2501. 7Paragraph 7
2502. Part IV: Tribunal Procedure
2503. 8Paragraph 8
2504. 9Paragraph 9
2505. Practice directions
2506. 10Paragraph 10
2507. Evidence
2508. 11Paragraph 11
2509. Decisions of Tribunal
2510. 12Paragraph 12
2511. Costs
2512. 13Paragraph 13
2513. Schedule 14: Role of the Competition Commission Repealed
2514. Provision of information by Treasury Repealed
2515. 1Paragraph 1 Repealed
2516. Consideration of matters arising on a report Repealed
2517. 2Paragraph 2 Repealed
2518. Repealed
2519. 2AParagraph 2A Repealed
2520. Repealed
2521. 2BParagraph 2B Repealed
2522. Repealed
2523. 2CParagraph 2C Repealed
2524. Applied provisions Repealed
2525. 3Paragraph 3 Repealed
2526. Publication of reports Repealed
2527. 4Paragraph 4 Repealed
2528. Schedule 15: Information and Investigations: Connected Persons
2529. Part I: Rules for Specific Bodies
2530. Corporate bodies
2531. 1Paragraph 1
2532. Partnerships
2533. 2Paragraph 2
2534. Unincorporated associations
2535. 3Paragraph 3
2536. Friendly societies
2537. 4Paragraph 4
2538. Building societies
2539. 5Paragraph 5
2540. Individuals
2541. 6Paragraph 6
2542. Application to sections 171 and 172
2543. 7Paragraph 7
2544. Part II: Additional Rules
2545. 8Paragraph 8
2546. Schedule 16: Prohibitions and Restrictions imposed by OFFICE OF FAIR TRADING
2547. Preliminary Repealed
2548. 1Paragraph 1 Repealed
2549. Notice of prohibition or restriction Repealed
2550. 2Paragraph 2 Repealed
2551. Application to revoke prohibition or restriction Repealed
2552. 3Paragraph 3 Repealed
2553. Representations to Office of Fair TradingOFT Repealed
2554. 4Paragraph 4 Repealed
2555. Appeals Repealed
2556. 5Paragraph 5 Repealed
2557. Schedule 17: The Ombudsman Scheme
2558. Part I: General
2559. Interpretation
2560. 1Paragraph 1
2561. Part II: The Scheme Operator
2562. Duty of FCA
2563. 2Paragraph 2
2564. Constitution
2565. 3Paragraph 3
2566. Relationship with FCA
2567. 3AParagraph 3A
2568. The panel of ombudsmen
2569. 4Paragraph 4
2570. The Chief Ombudsman
2571. 5Paragraph 5
2572. Status
2573. 6Paragraph 6
2574. Annual reports
2575. 7Paragraph 7
2576. Audit of accounts
2577. 7AParagraph 7A
2578. Information, advice and guidance
2579. 8Paragraph 8
2580. Budget
2581. 9Paragraph 9
2582. Annual plan
2583. 9AParagraph 9A
2584. Exemption from liability in damages
2585. 10Paragraph 10
2586. Privilege
2587. 11Paragraph 11
2588. Part III: The Compulsory Jurisdiction
2589. Introduction
2590. 12Paragraph 12
2591. FCA's ... rules
2592. 13Paragraph 13
2593. The scheme operator’s rules
2594. 14Paragraph 14
2595. Fees
2596. 15Paragraph 15
2597. Enforcement of money awards
2598. 16Paragraph 16
2599. Part 3A: The consumer credit jurisdiction
2600. Introduction Repealed
2601. 16AParagraph 16A Repealed
2602. Procedure for complaints etc. Repealed
2603. 16BParagraph 16B Repealed
2604. Fees Repealed
2605. 16CParagraph 16C Repealed
2606. Enforcement of money awards Repealed
2607. 16DParagraph 16D Repealed
2608. Procedure for consumer credit rules Repealed
2609. 16EParagraph 16E Repealed
2610. Verification of consumer credit rules Repealed
2611. 16FParagraph 16F Repealed
2612. Consultation Repealed
2613. 16GParagraph 16G Repealed
2614. Part IV: The Voluntary Jurisdiction
2615. Introduction
2616. 17Paragraph 17
2617. Terms of reference to the scheme
2618. 18Paragraph 18
2619. Delegation by and to other schemes
2620. 19Paragraph 19
2621. Voluntary jurisdiction rules: procedure
2622. 20Paragraph 20
2623. Verification of the rules
2624. 21Paragraph 21
2625. Consultation
2626. 22Paragraph 22
2627. Schedule 17A: Further provision in relation to exercise of Part 18 functions , or other FMI functions, by Bank of England
2628. Part 1: Co-operation between appropriate regulators
2629. Memorandum of understanding between appropriate regulators and PRA
2630. 1Paragraph 1
2631. 2Paragraph 2
2632. 3Paragraph 3
2633. 4Paragraph 4
2634. 5Paragraph 5
2635. 6Paragraph 6
2636. 6AParagraph 6A
2637. Notification by FCA of action in relation to recognised clearing houses
2638. 7Paragraph 7
2639. 8Paragraph 8
2640. Part 2: Application of provisions of this Act in relation to Bank of England
2641. Introduction
2642. 9Paragraph 9
2643. Public consultations
2644. 9AParagraph 9A
2645. Requirements
2646. 9BParagraph 9B
2647. Rules
2648. 10Paragraph 10
2649. 10AParagraph 10A
2650. Information gathering and investigations
2651. 11Paragraph 11
2652. 12Paragraph 12
2653. 12AParagraph 12A
2654. 13Paragraph 13
2655. 14Paragraph 14
2656. 15Paragraph 15
2657. 16Paragraph 16
2658. Powers in relation to parent undertakings
2659. 17Paragraph 17
2660. Auditors
2661. 18Paragraph 18
2662. 19Paragraph 19
2663. 20Paragraph 20
2664. 21Paragraph 21
2665. Public record and disclosure of information
2666. 22Paragraph 22
2667. 23Paragraph 23
2668. Co-operation
2669. 23AParagraph 23A
2670. Insolvency
2671. 24Paragraph 24
2672. 25Paragraph 25
2673. Injunctions and restitution
2674. 26Paragraph 26
2675. 27Paragraph 27
2676. 28Paragraph 28
2677. Notices
2678. 29Paragraph 29
2679. Offences
2680. 30Paragraph 30
2681. 31Paragraph 31
2682. International obligations
2683. 31AParagraph 31A
2684. Transitional provisions
2685. 31BParagraph 31B
2686. Records
2687. 32Paragraph 32
2688. Annual report
2689. 33Paragraph 33
2690. Other reports
2691. 33AParagraph 33A
2692. Engagement with Parliamentary Committees
2693. 33BParagraph 33B
2694. Part 3: Winding up, administration or insolvency of recognised clearing houses
2695. Notice to Bank of England of preliminary steps
2696. 34Paragraph 34
2697. Power to give directions to insolvency practitioner
2698. 35Paragraph 35
2699. Part 4: Fees
2700. 36Paragraph 36
2701. 37Paragraph 37
2702. Schedule 18: Mutuals
2703. Part I: Friendly Societies
2704. The Friendly Societies Act 1974 (c.46)
2705. 1Paragraph 1
2706. 2Paragraph 2
2707. 3Paragraph 3
2708. 4Paragraph 4
2709. The Friendly Societies Act 1992 (c.40)
2710. 5Paragraph 5
2711. 6Paragraph 6
2712. 7Paragraph 7
2713. 8Paragraph 8
2714. Part II: Friendly Societies: Subsidiaries and Controlled Bodies
2715. Interpretation
2716. 9Paragraph 9
2717. Qualifying bodies
2718. 10Paragraph 10
2719. Bodies controlled by societies
2720. 11Paragraph 11
2721. Joint control by societies
2722. 12Paragraph 12
2723. Acquisition of joint control
2724. 13Paragraph 13
2725. Amendment of Schedule 8 to the 1992 Act
2726. 14Paragraph 14
2727. Consequential amendments
2728. 15Paragraph 15
2729. References in other enactments
2730. 16Paragraph 16
2731. Part III: Building Societies
2732. The Building Societies Act 1986 (c.53)
2733. 17Paragraph 17
2734. 18Paragraph 18
2735. Part IV: Industrial and Provident Societies Repealed
2736. The Industrial and Provident Societies Act 1965 (c.12) Repealed
2737. 19Paragraph 19 Repealed
2738. 20Paragraph 20 Repealed
2739. Part V: Credit Unions
2740. The Credit Unions Act 1979 (c.34)
2741. 21Paragraph 21
2742. 22Paragraph 22
2743. 23Paragraph 23
2744. 24Paragraph 24
2745. 25Paragraph 25
2746. 26Paragraph 26
2747. Schedule 19
2748. Part I: Persons and functions for the purposes of section 351
2749. 1Paragraph 1
2750. Part II: The enactments
2751. 1Paragraph 1
2752. 2Paragraph 2
2753. 3Paragraph 3
2754. 4Paragraph 4
2755. 5Paragraph 5
2756. 6Paragraph 6
2757. 7Paragraph 7
2758. 8Paragraph 8
2759. 9Paragraph 9
2760. 10Paragraph 10
2761. 11Paragraph 11
2762. 12Paragraph 12
2763. 13Paragraph 13
2764. 14Paragraph 14
2765. 15Paragraph 15
2766. 16Paragraph 16
2767. 17Paragraph 17
2768. 18Paragraph 18
2769. 19Paragraph 19
2770. Schedule 19A: The manager of a write-down order
2771. 1Application of Schedule
2772. 2Status of the manager
2773. 3Monitoring the insurer’s affairs
2774. 4Application by manager to revoke or vary a write-down order
2775. 5Provision of information and assistance to the manager
2776. 6Application by manager for directions
2777. 7Challenges to the manager’s actions
2778. Schedule 19B: Further provision about write-down orders
2779. Part 1: Restrictions on enforcement
2780. 1Application of this Part of this Schedule
2781. 2Moratorium on proceedings
2782. 3Exceptions
2783. Part 2: Dealing with assets etc
2784. 4Application of this Part of this Schedule
2785. 5Dealing with assets
2786. 6Paying variable remuneration
2787. 7Distributions
2788. Part 3: Treatment of written-down liabilities for certain purposes
2789. 8Application of this Part of this Schedule
2790. 9Relevant insolvency provisions
2791. 10Reinsurance contracts
2792. Part 4: Interest
2793. 11Paragraph 11
2794. Schedule 19C: Insurers in financial difficulties: enforcement of contracts
2795. Part 1: Introductory
2796. 1Application of this Schedule
2797. 2“Financial difficulties”
2798. Part 2: Policyholder surrender rights
2799. 3Restriction on policyholder surrender rights
2800. 4Switching rights
2801. 5Consent to exceed surrender limit
2802. Part 3: Termination etc of relevant contracts
2803. 6Relevant contracts
2804. 7Restriction on termination etc
2805. 8Consent to terminate relevant contracts
2806. Part 4: Exclusions and disapplication of this Schedule
2807. 9Exclusions
2808. 10Disapplication of this Schedule by the court
2809. 11Procedure
2810. Part 5: Powers to amend this Schedule
2811. 12Paragraph 12
2812. Schedule 20: Minor and Consequential Amendments
2813. The House of Commons Disqualification Act 1975 (c. 24)
2814. 1Paragraph 1
2815. The Northern Ireland Assembly Disqualification Act 1975 (c. 25)
2816. 2Paragraph 2
2817. The Civil Jurisdiction and Judgments Act 1982 (c. 27)
2818. 3Paragraph 3
2819. The Income and Corporation Taxes Act 1988 (c. 1)
2820. 4Paragraph 4
2821. The Finance Act 1991 (c. 31)
2822. 5Paragraph 5
2823. The Tribunals and Inquiries Act 1992 (c. 53)
2824. 6Paragraph 6 Repealed
2825. The Judicial Pensions and Retirement Act 1993 (c. 8)
2826. 7Paragraph 7
2827. Schedule 21: Transitional Provisions and Savings
2828. Self-regulating organisations
2829. 1Paragraph 1
2830. Self-regulating organisations for friendly societies
2831. 2Paragraph 2
2832. Schedule 22: Repeals