Financial Services and Markets Act 2000

s.100 Exercise of powers where UK is host member state

amended 2 times

s.101 Listing rules: general provisions.

s.102 Exemption from liability in damages.

amended 26 times (opens in a new tab)

s.102 Meaning of “securities” etc.

amended 1 time

s.102 Meaning of “offer of transferable securities to the public” etc.

amended 1 time

s.102 Meaning of “ home State ” in relation to transferable securities

amended 1 time

s.103 Interpretation of this Part

84 other sections in this Part — procedural and definitional

s.072 The competent authority.

s.073 General duty of the competent authority.

s.073 Part 6 Rules

s.074 The official list.

s.075 Applications for listing.

s.076 Decision on application.

s.077 Discontinuance and suspension of listing.

s.078 Discontinuance or suspension: procedure.

s.078 Discontinuance or suspension at the request of the issuer: procedure

s.079 Listing particulars and other documents.

s.082 Exemptions from disclosure.

s.083 Registration of listing particulars.

s.084 Matters which may be dealt with by prospectus rules

s.085 Contravention of prohibition relating to public offer of securities

s.086 Exempt offers to the public and admissions to trading

s.087 Election to have prospectus

s.087 Criteria for approval of prospectus by FCA

s.087 Exemptions from disclosure

s.087 Consideration of application for approval

s.087 Procedure for decision to refuse an application for approval

s.087 Transfer by FCA of application for approval

s.087 Transfer to FCA of application for approval

s.087 Final terms

s.087 Communication of final terms by FCA

s.087 Prospectus approved in another EEA State

s.087 Provision of information to host Member State

s.087 Requirements imposed as condition of approval

s.087 Power to suspend scrutiny of prospectus

s.087 Power to refuse approval of a prospectus

s.087 Power to suspend , restrict or prohibit offer to the public

s.087 Power to suspend , restrict or prohibit admission to trading on a regulated market

s.087 Power of FCA to suspend or prohibit trading on a trading facility

s.087 Public censure of issuer

s.087 Right to refer matters to the Tribunal

s.087 Procedure under sections 87JA, 87K, 87L and 87LA

s.087 Exercise of powers at request of competent authority of another EEA State

s.087 Right of investor to withdraw

s.087 Register of investors

s.088 Sponsors.

s.088 Disciplinary powers: contravention of s.88(3)(c) or (e)

s.088 Action under s.88A: procedure and right to refer to Tribunal

s.088 Action under s.88A: statement of policy

s.088 Statement of policy under s.88C: procedure

s.088 Powers exercisable to advance operational objectives

s.088 Action under s.88E: procedure

s.089 Public censure of sponsor.

s.089 Transparency rules

s.089 Provision of voteholder information

s.089 Notification of voting rights held by issuer

s.089 Notification of proposed amendment of issuer's constitution

s.089 Transparency rules: interpretation etc

s.089 Transparency rules: other supplementary provisions

s.089 FCA's power to call for information

s.089 Requirements in connection with call for information

s.089 Power to call for information: supplementary provisions

s.089 Public censure of issuer

s.089 Power to suspend or prohibit trading of securities

s.089 Procedure under section 89L

s.089 Right to refer matters to the Tribunal

s.089 Voting rights suspension orders

s.089 Corporate governance rules

s.089 Primary information providers

s.089 Disciplinary powers: contravention of s.89P(4)(b) or (d)

s.089 Action under s.89Q: procedure and right to refer to Tribunal

s.089 Action under s.89Q: statement of policy

s.089 Statement of policy under s.89S: procedure

s.089 Powers exercisable to advance operational objectives

s.090 Compensation for statements in listing particulars ...

s.090 Liability of issuers in connection with published information

s.090 Power to make further provision about liability for published information

s.090 Liability for key investor information

s.091 Penalties for breach of Part 6 rules

s.092 Procedure.

s.093 Statement of policy.

s.094 Statements of policy: procedure.

s.095 Competition scrutiny.

s.096 Obligations of issuers of listed securities.

s.096 Disclosure of information requirements

s.096 Disclosure rules: persons responsible for compliance

s.096 Suspension of trading

s.097 Appointment by FCA of persons to carry out investigations.

s.097 Reporting of infringements

s.098 Advertisements etc. in connection with listing applications.

s.099 Fees.

Part 7

Unilateral changes to pension schemes

0 of 9 sections shown

9 other sections in this Part — procedural and definitional

s.117 Pension schemes to which this Part applies

s.117 Unilateral changes

s.117 Effect of transfer of pension pot on membership of scheme etc

s.117 Best interests test

s.117 Certification by independent person

s.117 Unilateral change notice

s.117 Further duties to make FCA general rules

s.117 Treasury regulations

s.117 Interpretation of Part

Part 7

Control of Business Transfers

20 of 21 sections shown

s.103 Meaning of “the appropriate regulator”

amended 26 times

s.104 Control of business transfers.

amended 20 times (opens in a new tab)

s.105 Insurance business transfer schemes.

s.106 Banking business transfer schemes.

s.106 Reclaim fund business transfer scheme

amended 2 times

s.106 Ring-fencing transfer scheme

amended 2 times

s.107 Application for order sanctioning transfer scheme.

s.108 Requirements on applicants.

s.109 Scheme reports: insurance business transfer schemes

s.109 Scheme reports: ring-fencing transfer schemes Regulated

Submit an approved expert report for ring-fencing transfer schemesApplicant
Submit a scheme report with your ring-fencing transfer scheme applicationApplicant

amended 2 times

s.110 Right to participate in proceedings.

s.111 Sanction of the court for business transfer schemes.

s.112 Effect of order sanctioning business transfer scheme.

s.112 Rights to terminate etc.

amended 11 times

s.112 Duty of regulator to provide copy of order Regulated

Other duties (2) — Crown / regulator

FCA and PRA must share business transfer orders with each otherStatutory regulator
FCA and PRA must share copies of business transfer scheme orders without delayStatutory regulator

amended 11 times

s.113 Appointment of actuary in relation to reduction of benefits.

s.114 Rights of certain policyholders.

s.114 Notice of transfer of reinsurance contracts

amended 3 times

s.115 Certificates for purposes of insurance business transfers overseas.

amended 18 times (opens in a new tab)

s.116 Effect of insurance business transfers authorised in other EEA States.

1 other section in this Part — procedural and definitional

s.117 Power to modify this Part.

Part 8

Short selling

0 of 14 sections shown

14 other sections in this Part — procedural and definitional

s.131 Short selling rules

s.131 Short selling rules: definitions etc

s.131 Short selling rules: procedure in urgent cases

s.131 Power to require information

s.131 Power to require information: supplementary

s.131 Investigations in support of overseas regulator

s.131 Entry of premises under warrant

s.131 Retention of documents taken under section 131FB

s.131 Power to impose penalty or issue censure

s.131 Procedure and right to refer to Tribunal

s.131 Duty on publication of statement

s.131 Imposition of penalties under section 131G: statement of policy

s.131 Statement of policy: procedure

s.131 Offences

Part 8

Cash access services

1 of 16 sections shown

s.131 Procedure for directions Regulated

Other duties (2) — Crown / regulator

FCA must follow procedure when giving a direction to a designated personStatutory regulator
FCA must follow specific procedures when issuing directionsStatutory regulator

15 other sections in this Part — procedural and definitional

s.131 Overview

s.131 Cash access services and coordination arrangements

s.131 Current accounts and relevant current account providers

s.131 Cash access policy statement

s.131 Provision of reports to assist the Treasury

s.131 Designation

s.131 Designation criteria

s.131 Cancellation or variation of a designation notice

s.131 Purpose for which FCA must exercise functions under this Part

s.131 FCA rules

s.131 Power to direct designated persons

s.131 Information gathering and investigations

s.131 Disciplinary measures

s.131 Costs of supervision

s.131 Exclusion and modification of other FCA duties

Part 8

Provisions relating to market abuse

20 of 39 sections shown

s.118 Market abuse.

s.118 Supplementary provision about certain behaviour

amended 5 times

s.118 Insiders

amended 5 times

s.118 Inside information

amended 5 times

s.119 The code.

s.120 Provisions included in the FCA's code by reference to the City Code.

s.121 Codes: procedure.

s.123 Power to impose penalties or issue censure

s.123 Power to prohibit individuals from managing or dealing Regulated

Ensure FCA-prohibited individuals don't hold management positionsFinancial Services Firm

amended 5 times

s.123 Suspending permission to carry on regulated activities etc

amended 5 times

s.123 Exercise of administrative sanctions

amended 5 times

s.124 Statement of policy.

s.126 Warning notices.

s.127 Decision notices and right to refer to Tribunal.

s.127 Consultation with the PRA in relation to administrative sanctions

amended 6 times

s.128 Suspension of investigations.

s.129 Power of court to impose administrative sanctions in cases of market abuse

s.130 Guidance.

s.130 Interpretation and supplementary provision

amended 3 times

s.131 Reporting of infringements Regulated

Set up internal whistleblowing procedures for market abuse reportingEmployer

19 other sections in this Part — procedural and definitional

s.122 Effect of the code.

s.122 Power to require information from issuers

s.122 General power to require information

s.122 Power to require information: supplementary

s.122 Entry of premises under warrant

s.122 Retention of documents taken under section 122D

s.122 Offences

s.122 Publication of information and corrective statements by issuers

s.122 Publication of corrective statements generally

s.122 Publication of corrective statements relating to benchmarks

s.122 Power to suspend trading in financial instruments

s.122 Power to suspend auctioning of auctioned products on a recognised auction platform

s.125 Statement of policy: procedure.

s.131 Effect on transactions.

s.131 Protected Disclosures

s.131 Interpretation

s.131 Meaning of “persons closely associated” in the market abuse regulation

s.131 Individual liability in respect of legal persons under Articles 8 and 12 of the market abuse regulation

s.131 Liability for contraventions of Article 14 or 15 of the market abuse regulation

Part 9

Rules and Guidance

67 of 71 sections shown

s.137 The FCA's general rules

amended 4 times

s.137 The FCA's general rules: Gibraltar

amended 4 times

s.137 FCA general rules: clients' money, right to rescind etc.

amended 4 times

s.137 FCA general rules: cost of credit and duration of credit agreements

amended 4 times

s.137 FCA general rules: product intervention

amended 4 times

s.137 Orders under s.137D(1)(b)

amended 4 times

s.137 Rules requiring participation in benchmark

amended 4 times

s.137 FCA general rules: disclosure of information about pension scheme transaction costs etc

amended 4 times

s.137 FCA general rules: pensions dashboards Regulated

Provide pensions information through pensions dashboardsAny Person

Other duties (1) — Crown / regulator

FCA must create rules for pension dashboard data sharingStatutory regulator

amended 4 times

s.137 Pensions dashboards: further provision

amended 4 times

s.137 Sections 137FAA and 137FAB: supplementary

amended 4 times

s.137 FCA general rules: disclosure of information about the availability of pensions guidance

amended 4 times

s.137 FCA general rules: advice about transferring or otherwise dealing with annuity payments

amended 4 times

s.137 FCA general rules: early exit pension charges

amended 4 times

s.137 FCA general rules: regulation of consolidator pension schemes

amended 4 times

s.137 FCA rules: disclosure of information about the availability of financial guidance Regulated

Other duties (2) — Crown / regulator

FCA must create rules for disclosing financial guidance availabilityStatutory regulator
FCA must make rules requiring firms to disclose financial guidance availabilityStatutory regulator

amended 4 times

s.137 FCA general rules: charges for claims management services

amended 4 times

s.137 The PRA's general rules

amended 4 times

s.137 The PRA's general rules: Gibraltar

amended 4 times

s.137 General rules about remuneration

amended 4 times

s.137 Remuneration policies: Treasury direction to consider compliance

amended 4 times

s.137 Rules about recovery plans: duty to consult

amended 4 times

s.137 Rules about resolution packs: duty to consult

amended 4 times

s.137 Interpretation of sections 137J and 137K

amended 4 times

s.137 Special provision relating to adequacy of resolution plans

amended 4 times

s.137 Recovery plans and resolution packs : restriction on duty of confidence

amended 4 times

s.137 Threshold condition code

amended 4 times

s.137 Control of information rules

amended 4 times

s.137 Price stabilising rules

amended 4 times

s.137 Financial promotion rules

amended 4 times

s.137 Financial promotion rules: directions given by FCA

amended 4 times

s.137 Rules to recover expenses relating to the Money and Pensions Service

amended 4 times

s.137 Rules to recover debt advice expenses incurred by the devolved authorities Regulated

Other duties (2) — Crown / regulator

FCA must impose levies on financial firms to fund debt advice in Scotland, Wales and NIStatutory regulator
FCA must levy firms to recover devolved debt advice expensesStatutory regulator

amended 4 times

s.137 General supplementary powers

amended 4 times

s.138 Modification or waiver of rules

amended 29 times

s.138 Publication of directions under section 138A

amended 29 times

s.138 Disapplication or modification of rules in individual cases

amended 29 times

s.138 Evidential provisions

amended 29 times

s.138 Actions for damages

amended 29 times

s.138 Limits on effect of contravening rules

amended 29 times

s.138 Matters to consider when making rules

amended 29 times

s.138 Notification of rules

amended 29 times

s.138 Rule-making instruments

amended 29 times

s.138 Verification of rules

amended 29 times

s.138 Consultation by the FCA

amended 29 times

s.138 FCA Cost Benefit Analysis Panel

amended 29 times

s.138 Statement of policy in relation to cost benefit analyses

amended 29 times

s.138 Consultation by the PRA

amended 29 times

s.138 PRA Cost Benefit Analysis Panel

amended 29 times

s.138 Statement of policy in relation to cost benefit analyses

amended 29 times

s.138 Consultation: mutual societies Regulated

Other duties (1) — Crown / regulator

Regulators must assess and disclose impact of new rules on mutual societiesStatutory regulator

amended 29 times

s.138 Consultation: general exemptions

amended 29 times

s.138 Consultation: exemptions for temporary product intervention rules

amended 29 times

s.138 Temporary product intervention rules: statement of policy

amended 29 times

s.138 Statement of policy under section 138N: procedure

amended 29 times

s.138 Technical standards

amended 29 times

s.138 Standards instruments

amended 29 times

s.138 Treasury approval

amended 29 times

s.138 Application of Chapters 1 and 2

amended 29 times

s.140 Interpretation

amended 4 times

s.140 Advice about effect of regulating provision or practice

amended 4 times

s.140 Consultation with regulator Regulated

Other duties (2) — Crown / regulator

CMA must consult financial regulators before providing adviceStatutory regulator
CMA must consult relevant regulator before giving section 140B adviceStatutory regulator

amended 4 times

s.140 Investigation powers of CMA

amended 4 times

s.140 Publication by CMA of section 140B advice Regulated

Other duties (2) — Crown / regulator

CMA must publish section 140B advice as it sees fitStatutory regulator
CMA must publish advice given to financial regulatorsStatutory regulator

amended 4 times

s.140 Duty of CMA to send report to regulator

amended 4 times

s.140 Duty of regulator to publish response Regulated

Other duties (1) — Crown / regulator

Regulators must publish a response to CMA advice within 90 daysStatutory regulator

amended 4 times

s.140 Role of the Treasury

amended 4 times

4 other sections in this Part — procedural and definitional

s.139 Power of the FCA to give guidance

s.139 Notification of FCA guidance to the Treasury

s.141 Power to make consequential amendments of references to rules etc.

s.141 Power to consequentially amend enactments

Part 9

Ring-fencing

2 of 27 sections shown

s.142 Review of ring-fencing rules etc Regulated

Other duties (2) — Crown / regulator

PRA and FCA must conduct periodic reviews of ring-fencing rulesStatutory regulator
Regulators must review ring-fencing rules at least every 5 yearsStatutory regulator

s.142 Consultation etc. between regulators Regulated

Other duties (2) — Crown / regulator

Regulators must consult each other before directing ring-fencing changesStatutory regulator
Regulators must consult each other before issuing certain notices or varying directionsStatutory regulator

25 other sections in this Part — procedural and definitional

s.142 “Ring-fenced body”

s.142 Core activities

s.142 Core services

s.142 Excluded activities

s.142 Power of Treasury to impose prohibitions

s.142 Orders under section 142A, 142B, 142D or 142E

s.142 Ring-fenced bodies not to carry on excluded activities or contravene prohibitions

s.142 Ring-fencing rules

s.142 Powers of Treasury in relation to ring-fencing rules

s.142 Cases in which group restructuring powers become exercisable

s.142 Group restructuring powers

s.142 Procedure: preliminary notices

s.142 Procedure: warning notice and decision notice

s.142 References to Tribunal

s.142 Subsequent variation of requirement or direction

s.142 Relationship with regulators' powers under Parts 4A and 12A

s.142 Power to impose penalty or issue censure

s.142 Procedure and right to refer to Tribunal

s.142 Duty on publication of statement

s.142 Imposition of penalties under section 142S: statement of policy

s.142 Pension liabilities

s.142 Further interpretative provisions for section 142W

s.142 Power of Treasury in relation to loss-absorbency requirements

s.142 Affirmative procedure in relation to certain orders under Part 9B

s.142 Interpretation of Part 9B

Part 9

Prudential regulation of FCA investment firms

26 of 26 sections shown

s.143 FCA investment firms

amended 2 times

s.143 Other terms used in this Part

amended 2 times

s.143 Duty to make rules applying to FCA investment firms

amended 2 times

s.143 Duty to make rules applying to parent undertakings Regulated

Other duties (2) — Crown / regulator

FCA must create prudential and governance rules for parent companiesStatutory regulator
FCA must make prudential rules for parent undertakings of FCA investment firmsStatutory regulator

amended 2 times

s.143 Powers to make rules applying to parent undertakings

amended 2 times

s.143 Part 9C rules

amended 2 times

s.143 Matters to consider when making Part 9C rules

amended 2 times

s.143 Explanation to accompany consultation on rules Regulated

Other duties (2) — Crown / regulator

FCA must provide explanations when consulting on Part 9C rulesStatutory regulator
FCA must explain risk basis and policy considerations when consulting on Part 9C rulesStatutory regulator

amended 2 times

s.143 Exceptions from sections 143G and 143H

amended 2 times

s.143 Requirement to have UK parent undertaking

amended 2 times

s.143 Imposition of requirements on non-authorised parent undertakings

amended 2 times

s.143 Applications under section 143K

amended 2 times

s.143 Determination of applications under section 143K

amended 2 times

s.143 Refusal of applications under section 143K

amended 2 times

s.143 Exercise of own-initiative power under section 143K

amended 2 times

s.143 Right to refer matters to the Tribunal

amended 2 times

s.143 Assets requirements

amended 2 times

s.143 Managers of non-authorised parent undertakings Regulated

Ensure management body of your parent company is fit and properFinancial Services Firm
Ensure your parent company's management is fit and properFinancial Services Firm

amended 2 times

s.143 Part 9C prohibition orders

amended 2 times

s.143 Procedure for making a Part 9C prohibition order

amended 2 times

s.143 Varying and withdrawing a Part 9C prohibition order

amended 2 times

s.143 Offence of breaching a Part 9C prohibition order Prosecution

Breach a Part 9C financial services prohibition orderAny Person
Breach a Part 9C prohibition orderAny Person

Unlimited fine · amended 2 times

s.143 Disciplinary measures

amended 2 times

s.143 Procedure for disciplinary measures

amended 2 times

s.143 Statement of policy for penalties under section 143W

amended 2 times

s.143 Procedure for statement of policy

amended 2 times

Part 9

Prudential regulation of credit institutions etc

8 of 8 sections shown

s.144 CRR rules

amended 1 time

s.144 Terms used in this Part

amended 1 time

s.144 Matters to consider when making CRR rules

amended 1 time

s.144 Explanation to accompany consultation on CRR rules Regulated

Other duties (2) — Crown / regulator

PRA must explain how CRR rules consider statutory mattersStatutory regulator
PRA must explain how it considered specific factors when proposing CRR rulesStatutory regulator

amended 1 time

s.144 Exceptions from sections 144C and 144D etc

amended 1 time

s.144 Power to consequentially amend enactments

amended 1 time

s.144 Disapplication or modification of CRR rules in individual cases

amended 1 time

s.144 Relationship with the capital requirements regulation

amended 1 time

Part 9

Hearings and Appeals

5 of 7 sections shown

s.132 The Financial Services and Markets Tribunal.

amended 35 times (opens in a new tab)

s.133 Proceedings before Tribunal: general provision

s.133 Proceedings before Tribunal: decision and supervisory notices, etc.

amended 35 times

s.133 Offences

amended 35 times

s.136 Funding of the legal assistance scheme. Regulated

Pay levies to FCA for legal assistance scheme fundingAny Person

Other duties (1) — Crown / regulator

FCA must collect levies from authorised firms to fund legal assistanceStatutory regulator

amended 29 times (opens in a new tab)

2 other sections in this Part — procedural and definitional

s.134 Legal assistance scheme.

s.135 Provisions of the legal assistance scheme.

Part 10

Rules and Guidance

19 of 34 sections shown

s.138 General rule-making power.

s.140 Restriction on managers of certain collective investment schemes.

s.143 Endorsement of codes etc.

s.144 Price stabilising rules.

s.145 Financial promotion rules.

amended 35 times (opens in a new tab)

s.148 Modification or waiver of rules.

s.149 Evidential provisions.

s.150 Actions for damages.

s.152 Notification of rules to the Treasury.

s.154 Verification of rules.

amended 20 times (opens in a new tab)

s.155 Consultation.

s.156 General supplementary powers.

s.157 Guidance.

s.158 Notification of guidance to the Treasury.

s.158 Guidance on outsourcing by investment firms and credit institutions

amended 1 time

s.159 Interpretation.

s.160 Reports by OFT.

s.161 Power of OFT to request information.

s.162 Consideration by Competition Commission.

amended 59 times (opens in a new tab)

15 other sections in this Part — procedural and definitional

s.139 Miscellaneous ancillary matters.

s.139 General rules about remuneration

s.139 Rules about recovery plans

s.139 Rules about resolution plans

s.139 Sections 139B and 139C: interpretation

s.139 Rules about recovery and resolution plans: supplementary provision

s.139 Special provision in relation to resolution plans

s.141 Insurance business rules.

s.142 Insurance business: regulations supplementing Authority’s rules.

s.146 Money laundering rules.

s.147 Control of information rules.

s.151 Limits on effect of contravening rules.

s.153 Rule-making instruments.

s.163 Role of the Treasury.

s.164 The Competition Act 1998.

Part 11

Information Gathering and Investigations

20 of 20 sections shown

s.165 Regulators power to require information : authorised persons etc.

s.165 PRA's power to require information: financial stability

amended 59 times

s.165 Safeguards etc in relation to exercise of power under section 165A

amended 59 times

s.165 Orders under section 165A(2)(d)

amended 59 times

s.166 Reports by skilled persons.

amended 29 times (opens in a new tab)

s.166 Appointment of skilled person to collect and update information

amended 29 times

s.167 Appointment of persons to carry out general investigations.

amended 32 times (opens in a new tab)

s.168 Appointment of persons to carry out investigations in particular cases.

amended 67 times (opens in a new tab)

s.169 Investigations etc. in support of overseas regulator.

s.169 Support of overseas regulator with respect to financial stability

amended 16 times

s.170 Investigations: general.

s.171 Powers of persons appointed under section 167.

s.172 Additional power of persons appointed as a result of section 168(1) , (4) or (4B).

s.173 Powers of persons appointed as a result of section 168(2).

s.174 Admissibility of statements made to investigators.

s.175 Information and documents: supplemental provisions.

amended 30 times (opens in a new tab)

s.176 Entry of premises under warrant.

s.176 Retention of documents taken under section 176

amended 30 times

s.177 Offences.

s.177 Interpretation of Part 11

amended 28 times

Part 12

Powers exercisable in relation to parent undertakings

16 of 16 sections shown

s.192 Meaning of “qualifying authorised person”

amended 6 times

s.192 Meaning of “qualifying parent undertaking”

amended 6 times

s.192 Power to direct qualifying parent undertaking

amended 6 times

s.192 Requirements that may be imposed

amended 6 times

s.192 Direction: procedure

amended 6 times

s.192 Consultation between regulators

amended 6 times

s.192 References to Tribunal

amended 6 times

s.192 Statement of policy: directions under section 192C

amended 6 times

s.192 Statement of policy relating to directions: procedure

amended 6 times

s.192 Rules requiring provision of information by parent undertakings

amended 6 times

s.192 Rules applying to parent undertakings of ring-fenced bodies

amended 6 times

s.192 Rules requiring parent undertakings to facilitate resolution

amended 6 times

s.192 Power to impose penalty or issue censure

amended 6 times

s.192 Procedure and right to refer to Tribunal

amended 6 times

s.192 Duty on publication of statement

amended 6 times

s.192 Imposition of penalties under section 192K: statement of policy

amended 6 times

Part 12

Approval of certain holding companies

18 of 18 sections shown

s.192 Interpretation

amended 6 times

s.192 Requirement for approval Regulated

Obtain PRA approval before establishing as a parent financial holding companyTrader

amended 6 times

s.192 Application for approval or exemption

amended 6 times

s.192 Grant of approval

amended 6 times

s.192 Regulator’s duty to monitor Regulated

Notify the PRA of changes to group structure and other required informationTrader

amended 6 times

s.192 Measures Regulated

Other duties (1) — Crown / regulator

PRA must take corrective measures when a financial holding company fails conditionsStatutory regulator

amended 6 times

s.192 Directions: procedure Regulated

Other duties (2) — Crown / regulator

PRA must give written notice and follow fair procedure when issuing a directionStatutory regulator
PRA must provide notice and hearing rights before issuing directionsStatutory regulator

amended 6 times

s.192 Rules imposing consolidated or sub-consolidated requirements

amended 6 times

s.192 Consultation between regulators

amended 6 times

s.192 References to Tribunal

amended 6 times

s.192 Rules applying to holding companies

amended 6 times

s.192 Procedural provision

amended 6 times

s.192 Disapplication or modification of rules in individual cases

amended 6 times

s.192 Power to impose penalty or issue censure

amended 6 times

s.192 Procedure and right to refer to Tribunal

amended 6 times

s.192 Duty on publication of statement

amended 6 times

s.192 Directions and penalties: statement of policy

amended 6 times

s.192 Statement of policy relating to directions: procedure

amended 6 times

Part 12

Control Over Authorised Persons

25 of 26 sections shown

s.178 Obligation to notify the appropriate regulator: acquisitions of control Regulated

Notify the FCA or PRA before acquiring control of a financial firmAny Person

s.179 Requirements for section 178 notices Regulated

Submit section 178 notice in required form with required information and documentsAny Person

Other duties (1) — Crown / regulator

Regulators must publish and maintain requirements for section 178 noticesStatutory regulator

s.180 Acknowledgment of receipt Regulated

Other duties (2) — Crown / regulator

Regulator must acknowledge or flag errors in control notificationsStatutory regulator
Regulator must acknowledge your acquisition notice within 2 working daysStatutory regulator

s.182 Increasing control

s.183 Reducing or ceasing to have control

s.184 Disregarded holdings

s.185 Assessment: general

s.186 Assessment criteria

s.187 Approval with conditions

s.187 Assessment: consultation by PRA with FCA

amended 8 times

s.187 Assessment: consultation by FCA with PRA Regulated

Other duties (2) — Crown / regulator

FCA must consult with PRA before deciding on ownership changesStatutory regulator
FCA must consult PRA before approving certain acquisitionsStatutory regulator

amended 8 times

s.187 Variation etc of conditions

amended 8 times

s.188 Assessment: consultation with EC competent authorities

s.189 Assessment: Procedure

s.190 Requests for further information

s.190 Assessment and resolution Regulated

Comply with Bank of England direction to sell shares and voting suspensionAny Person

Other duties (1) — Crown / regulator

Bank of England must manage voting rights during bank resolution acquisitionsStatutory regulator

amended 13 times

s.191 Duration of approval

s.191 Objection by the appropriate regulator

amended 1 time

s.191 Restriction notices

amended 1 time

s.191 Orders for sale of shares

amended 1 time

s.191 Obligation to notify the appropriate regulator: dispositions of control

amended 1 time

s.191 Requirements for notices under section 191D

amended 1 time

s.191 Offences under this Part

amended 1 time

s.191 Interpretation

amended 1 time

s.192 Power to change definitions of control etc.

1 other section in this Part — procedural and definitional

s.181 Acquiring control

Part 13

Enhanced supervision of firms exercising rights under the Insurance Distribution Directive

4 of 4 sections shown

s.203 Insurance distribution directive: enhanced supervision of EEA firms by UK regulators

amended 12 times

s.203 Insurance distribution directive: enhanced supervision of UK firms by an EEA regulator

amended 12 times

s.203 Modification or waiver of rules where firm subject to enhanced supervision

amended 12 times

s.203 Publication of directions under section 203C

amended 12 times

Part 13

Incoming Firms: Intervention by FCA or PRA

20 of 20 sections shown

s.193 Interpretation of this Part.

s.194 General grounds on which power of intervention is exercisable.

s.194 Contravention by relevant EEA firm with UK branch of requirement under markets in financial instruments directive: appropriate regulator primarily responsible for securing compliance

amended 22 times

s.194 Contravention by relevant EEA firm of requirement in capital requirements directive or capital requirements regulation

amended 22 times

s.194 Contravention by relevant EEA firm with UK branch of requirement in mortgages directive: appropriate regulator primarily responsible for securing compliance

amended 22 times

s.194 Contravention by relevant EEA firm of requirement in insurance distribution directive: appropriate regulator primarily responsible for securing compliance

amended 22 times

s.195 Exercise of power in support of overseas regulator.

s.195 Contravention by relevant EEA firm , EEA UCITS or EEAAIFM of directive requirements: home state regulator primarily responsible for securing compliance

amended 9 times

s.195 Contravention by relevant EEA firm of requirement in mortgages directive: home state regulator primarily responsible for securing compliance

amended 9 times

s.195 Contravention by relevant EEA firm of requirement in insurance distribution directive: home state regulator primarily responsible for securing compliance

amended 9 times

s.196 The power of intervention.

s.197 Procedure on exercise of power of intervention.

s.198 Power to apply to court for injunction in respect of certain overseas insurance companies.

amended 29 times (opens in a new tab)

s.199 Additional procedure for EEA firms in certain cases.

s.199 Management companies: loss of authorisation

amended 29 times

s.200 Rescission and variation of requirements.

s.201 Effect of certain requirements on other persons

s.202 Contravention of requirement imposed under this Part.

s.203 Power to prohibit the carrying on of Consumer Credit Act business.

s.204 Power to restrict the carrying on of Consumer Credit Act business.

amended 20 times (opens in a new tab)

Part 14

Disciplinary Measures

11 of 11 sections shown

s.204 Meaning of “relevant requirement” and “appropriate regulator”

amended 5 times

s.205 Public censure.

s.206 Financial penalties.

s.206 Suspending permission to carry on regulated activities etc

amended 22 times

s.206 Prohibition or restriction on carrying on of relevant designated activities

amended 22 times

s.207 Proposal to take disciplinary measures.

s.208 Decision notice.

s.208 Applications under section 206B(4): procedure and right to refer to Tribunal

amended 27 times

s.209 Publication.

amended 43 times (opens in a new tab)

s.210 Statements of policy.

s.211 Statements of policy: procedure.

Part 15

Power to require FSCS manager to act in relation to other schemes

5 of 5 sections shown

s.224 Meaning of “relevant scheme” etc

amended 11 times

s.224 Power to require FSCS manager to act on behalf of manager of relevant scheme

amended 11 times

s.224 Cases where FSCS manager may decline to act

amended 11 times

s.224 Grounds for declining to act

amended 11 times

s.224 Rules about relevant schemes

amended 11 times

Part 15

The Financial Services Compensation Scheme

36 of 37 sections shown

s.212 The scheme manager.

amended 42 times (opens in a new tab)

s.213 The compensation scheme.

s.214 General.

s.214 Contingency funding

amended 7 times

s.214 Contribution to costs of special resolution regime

amended 7 times

s.214 Limit on amount of special resolution regime payments

amended 7 times

s.214 Contributions under section 214B: supplementary

amended 7 times

s.214 Recapitalisation payments

amended 7 times

s.214 Recapitalisation payment: report

amended 7 times

s.214 Notification to Parliamentary Committees Regulated

Other duties (1) — Crown / regulator

Bank of England must notify Parliament of recapitalisation paymentsStatutory regulator

amended 7 times

s.214 Reimbursement in respect of a recapitalisation payment

amended 7 times

s.215 Rights of the scheme in insolvency

s.215 Continuity etc. of funeral plan contracts

amended 27 times

s.215 Scheme manager’s power to require assistance from liquidator etc. in relation to funeral plan contracts

amended 27 times

s.217 Insurers in financial difficulties.

s.217 Co-operation Regulated

Other duties (1) — Crown / regulator

Regulators and scheme manager must co-operate and publish a memorandumStatutory regulator

amended 1 time

s.217 Annual plan

amended 1 time

s.217 Insurers subject to write-down orders Regulated

Other duties (2) — Crown / regulator

Scheme manager must safeguard policyholders of insurers under write-down ordersStatutory regulator
Compensation scheme must safeguard policyholders affected by write-down ordersStatutory regulator

amended 1 time

s.217 Recovery of financial assistance under section 217ZA

amended 1 time

s.218 Annual report.

s.218 Regulators' power to require information

amended 4 times

s.218 Treasury's power to require information from scheme manager

amended 4 times

s.218 Audit of accounts

amended 4 times

s.219 Scheme manager’s power to require information.

s.220 Scheme manager’s power to inspect information held by liquidator etc.

s.220 Power to inspect information held by write-down manager

amended 10 times

s.221 Powers of court where information required.

s.221 Delegation of functions

amended 5 times

s.222 Statutory immunity.

s.223 Management expenses.

s.223 Investing in National Loans Fund

amended 5 times

s.223 Borrowing from National Loans Fund

amended 5 times

s.223 Payments in error

amended 5 times

s.224 Scheme manager’s power to inspect documents held by Official Receiver etc.

s.224 Functions under the Banking Act 2009

amended 11 times

s.224 Discharge of functions

amended 11 times

1 other section in this Part — procedural and definitional

s.216 Continuity of long-term insurance policies.

Part 16

Consumer protection and competition

13 of 13 sections shown

s.234 Complaints by consumer bodies

amended 7 times

s.234 Reference by scheme operator or regulated person

amended 7 times

s.234 Response by FCA

amended 7 times

s.234 Section 234E: exceptions

amended 7 times

s.234 Guidance Regulated

Other duties (2) — Crown / regulator

FCA must provide guidance on making super-complaintsStatutory regulator
FCA must publish guidance on how to present complaints and referencesStatutory regulator

amended 7 times

s.234 Power of FCA to make request to Competition and Markets Authority

amended 7 times

s.234 The FCA's functions under Part 4 of the Enterprise Act 2002

amended 7 times

s.234 The FCA's functions under the Competition Act 1998

amended 7 times

s.234 Duty to consider exercise of powers under Competition Act 1998

amended 7 times

s.234 Provision of information and assistance to a CMA group Regulated

Other duties (1) — Crown / regulator

FCA must provide information and assistance to CMA competition investigationsStatutory regulator

amended 7 times

s.234 Function of keeping market under review

amended 7 times

s.234 Exclusion of general duties

amended 7 times

s.234 Supplementary provision

amended 7 times

Part 16

The Ombudsman Scheme

13 of 15 sections shown

s.226 Compulsory jurisdiction.

s.226 Consumer credit jurisdiction

amended 8 times

s.227 Voluntary jurisdiction.

amended 14 times (opens in a new tab)

s.228 Determination under the compulsory jurisdiction.

s.229 Awards.

amended 19 times (opens in a new tab)

s.230 Costs.

s.230 Reports of determinations Regulated

Other duties (2) — Crown / regulator

Financial Ombudsman Service must publish reports of its decisionsStatutory regulator
Publish financial ombudsman determinations and protect complainant privacyStatutory regulator

amended 10 times

s.231 Ombudsman’s power to require information.

s.232 Powers of court where information required.

s.232 Scheme operator's duty to provide information to FCA Regulated

Disclose useful information to the FCA when you identify itOperator

Other duties (1) — Crown / regulator

Scheme operator must provide information to the FCAStatutory regulator

amended 8 times

s.234 Industry funding.

s.234 Funding by consumer credit licensees etc.

amended 7 times

s.234 Transfers of liability

amended 7 times

2 other sections in this Part — procedural and definitional

s.225 The scheme and the scheme operator.

s.233 Data protection.

Part 17

Transformer Vehicles

1 of 1 section shown

s.284 Transformer vehicles

amended 2 times

Part 17

Collective Investment Schemes

66 of 113 sections shown

s.236 Open-ended investment companies.

s.236 Meaning of “UCITS”

amended 3 times

s.237 Other definitions.

s.238 Restrictions on promotion.

s.241 Actions for damages.

s.241 Bearer units no longer to be issued

amended 1 time

s.242 Applications for authorisation of unit trust schemes.

s.243 Authorisation orders : authorised unit trust schemes. Regulated

Ensure your unit trust scheme meets FCA authorisation requirementsTrustee
Ensure unit trust schemes meet strict UK structural and management requirementsTrustee

s.243 Authorisation orders: authorised money market funds

amended 12 times

s.244 Determination of applications. Regulated

Other duties (2) — Crown / regulator

FCA must determine authorisation applications within statutory time limitsStatutory regulator
FCA must determine unit trust and UCITS applications within set timelinesStatutory regulator

s.246 Certificates.

s.247 Trust scheme rules.

s.249 Disciplinary measures

s.250 Modification or waiver of rules.

s.251 Alteration of schemes and changes of manager or trustee. Regulated

Notify FCA of proposed scheme changes or trustee/manager replacementsTrustee

s.252 Procedure when refusing approval of a proposal under section 251.

s.252 Proposal to convert to a non-feeder UCITS Regulated

Notify FCA before converting feeder UCITS to non-feeder UCITSAny Person

amended 5 times

s.254 Revocation of authorisation order otherwise than by consent.

s.255 Procedure.

s.256 Requests for revocation of authorisation order.

s.257 Directions.

s.259 Procedure on giving directions under section 257 or 258A and varying them on FCA's own initiative.

s.261 Authorisation orders : authorised contractual schemes Regulated

Ensure your contractual scheme meets authorisation requirements and maintain operator/depositary eligibilityOperator

s.261 Alteration of contractual schemes and changes of operator or depositary Regulated

Notify FCA and await approval before altering a contractual scheme or changing operator/depositaryOperator
Notify FCA of changes to contractual schemes, operators, or depositariesOperator

s.261 Proposal to convert to a non-feeder UCITS Regulated

Notify FCA before converting a feeder UCITS to a non-feeder UCITSOperator

s.262 Open-ended investment companies.

s.263 Amendment of section 716 Companies Act 1985.

s.264 Schemes constituted in other EEA States.

s.265 Representations and references to the Tribunal.

s.266 Disapplication of rules.

s.267 Power of FCA to suspend promotion of scheme.

s.268 Procedure on giving directions under section 267 and varying them on FCA's own initiative.

s.269 Procedure on application for variation or revocation of direction.

s.270 Schemes authorised in designated countries or territories.

s.271 Procedure.

amended 15 times (opens in a new tab)

s.271 Schemes authorised in approved countries

amended 1 time

s.271 Approval of country: equivalent protection afforded to participants

amended 1 time

s.271 Approval of country: regulatory co-operation

amended 1 time

s.271 Report by the FCA in relation to approval Regulated

Other duties (2) — Crown / regulator

FCA must prepare report on overseas country for Treasury approvalStatutory regulator
FCA must provide reports on overseas investment scheme regulationsStatutory regulator

amended 1 time

s.271 Power to impose requirements on schemes Regulated

Comply with Treasury requirements for overseas investment schemesAny Person

amended 1 time

s.271 Application for recognition to the FCA

amended 1 time

s.271 Determination of applications

amended 1 time

s.271 Procedure when determining an application

amended 1 time

s.271 Obligations on operator of a section 271A scheme

amended 1 time

s.271 Provision of information to the FCA Regulated

Provide information about your investment scheme to the FCAOperator
Provide information to the FCA when directedOperator

amended 1 time

s.271 Rules as to scheme particulars

amended 1 time

s.271 Suspension of recognition

amended 1 time

s.271 Procedure when suspending recognition Regulated

Other duties (2) — Crown / regulator

FCA must follow due process when suspending recognition of investment schemesStatutory regulator
FCA must follow specific procedures when suspending a fund's recognitionStatutory regulator

amended 1 time

s.271 Revocation of recognition on the FCA's initiative

amended 1 time

s.271 Requests for revocation of recognition

amended 1 time

s.271 Obligations on operator where recognition is revoked or suspended

amended 1 time

s.271 Effect of variation or revocation of Treasury regulations

amended 1 time

s.271 Public censure

amended 1 time

s.271 Recognition of parts of schemes under section 271A

amended 1 time

s.272 Individually recognised overseas schemes.

s.274 Applications for recognition of individual schemes.

s.275 Determination of applications. Regulated

Other duties (2) — Crown / regulator

FCA must determine fund applications within set timeframesStatutory regulator
FCA must determine recognition applications within 6 months (completed) or 12 months (incomplete)Statutory regulator

s.277 Alteration of schemes and changes of operator, trustee or depositary. Regulated

Notify the FCA of changes to your investment schemeOperator
Notify the FCA of material changes to your recognised schemeOperator

s.277 Regular provision of information relating to compliance with requirements for recognition

amended 11 times

s.278 Rules as to scheme particulars.

s.279 Revocation of recognition.

s.280 Procedure.

s.281 Directions.

s.282 Procedure on giving directions under section 281 and varying them otherwise than as requested. Regulated

Other duties (2) — Crown / regulator

FCA must follow notice and representation procedure when issuing directionsStatutory regulator
FCA must follow specific procedures when giving or changing directionsStatutory regulator

s.282 Obligations on operator where recognition is revoked or suspended Regulated

Notify affected parties if scheme recognition is revoked or suspendedOperator
Notify investors and other persons if FCA revokes or suspends scheme recognitionOperator

s.284 Power to investigate.

47 other sections in this Part — procedural and definitional

s.235 Collective investment schemes.

s.235 Contractual schemes

s.239 Single property schemes.

s.240 Restriction on approval of promotion.

s.245 Procedure when refusing an application.

s.248 Scheme particulars rules.

s.253 Avoidance of exclusion clauses.

s.258 Applications to the court.

s.258 Winding up or merger of master UCITS

s.260 Procedure: refusal to revoke or vary direction.

s.261 Procedure: revocation of direction and grant of request for variation.

s.261 Information for home state regulator

s.261 Information for feeder UCITS

s.261 Applications for authorisation of contractual schemes

s.261 Authorised contractual schemes: holding of units

s.261 Authorisation orders: authorised money market funds

s.261 Determination of applications

s.261 Procedure when refusing an application

s.261 Certificates

s.261 Contractual scheme rules

s.261 Contractual scheme particulars rules

s.261 Disciplinary measures

s.261 Modification or waiver of rules

s.261 Contracts

s.261 Effect of becoming or ceasing to be a participant

s.261 Limited liability

s.261 Segregated liability in relation to umbrella co-ownership schemes

s.261 Procedure when refusing approval of a proposal under section 261Q

s.261 Avoidance of exclusion clauses

s.261 Revocation of authorisation order otherwise than by consent

s.261 Procedure for revoking authorisation order

s.261 Requests for revocation of authorisation order

s.261 Directions

s.261 Applications to the court

s.261 Procedure: revocation of direction and grant of request for variation

s.261 Procedure on giving directions under section 261X or 261Z and varying them on FCA’s own initiative

s.261 Procedure: refusal to revoke or vary direction

s.261 Information for home state regulator

s.261 Information for feeder UCITS

s.261 Power to make provision about unauthorised co-ownership AIFs

s.273 Matters that may be taken into account.

s.276 Procedure when refusing an application.

s.282 Public censure

s.282 Recognition of parts of schemes under section 272

s.283 Facilities and information in UK.

s.283 Master-feeder structures

s.283 Reports on derivative instruments

Part 18

SUSPENSION AND REMOVAL OF FINANCIAL INSTRUMENTS FROM TRADING

13 of 13 sections shown

s.313 FCA's power to require suspension or removal of financial instruments from trading

amended 36 times

s.313 Suspension or removal of financial instruments from trading: procedure

amended 36 times

s.313 Procedure following consideration of representations

amended 36 times

s.313 Revocation of requirements: applications by institutions

amended 36 times

s.313 Decisions on applications for revocation by institutions

amended 36 times

s.313 Revocation of requirements: applications by issuers

amended 36 times

s.313 Decisions on applications for revocation by issuers

amended 36 times

s.313 Notification in relation to suspension or removal of a financial instrument from trading

amended 36 times

s.313 Suspension or removal of financial instruments from trading: notification and trading on other venues Regulated

Other duties (1) — Crown / regulator

FCA must coordinate suspension of financial instruments across UK trading venues and publish decisionsStatutory regulator

amended 36 times

s.313 Suspension or removal of a financial instrument from a trading by a trading venue: FCA duties

amended 36 times

s.313 Significant damage to investors’ interests or orderly functioning of market

amended 36 times

s.313 Suspension or removal of a financial instrument from trading in another EEA state: FCA duties

amended 36 times

s.313 Interpretation of Part 18A

amended 36 times

Part 18

Recognised investment exchanges, clearing houses , CSDs and other parties

93 of 122 sections shown

s.285 Exemption for recognised bodies etc.

s.285 Powers exercisable in relation to recognised bodies etc

amended 16 times

s.286 Qualification for recognition.

s.287 Application by an investment exchange.

s.287 Application by an investment exchange: persons connected with an applicant

amended 7 times

s.288 Application by a clearing house.

s.288 Application by a central securities depository

amended 8 times

s.289 Applications: supplementary.

amended 24 times (opens in a new tab)

s.290 Recognition orders.

s.290 Refusal of recognition on ground of excessive regulatory provision

amended 24 times

s.290 Variation of central counterparty recognition order

amended 24 times

s.290 Variation of CSD recognition order

amended 24 times

s.291 Liability in relation to recognised body’s regulatory functions.

s.292 Overseas investment exchanges and overseas clearing houses.

s.292 Publication of information by recognised investment exchange Regulated

Publish ownership details and trading suspension/removal decisions as required by FCAFinancial Services Firm

amended 17 times

s.293 Notification requirements.

s.293 Information: compliance with specified requirements

amended 17 times

s.294 Modification or waiver of rules.

s.295 Notification: overseas investment exchanges and overseas clearing houses. Regulated

File annual report with regulator on key events and specified informationFinancial Services Firm
Overseas investment exchanges and clearing houses must submit annual reportsFinancial Services Firm

amended 26 times (opens in a new tab)

s.295 On-site inspection of United Kingdom branches of third country CSDs

amended 5 times

s.296 Appropriate regulator's power to give directions.

s.296 Additional power to direct recognised central counterparties

amended 26 times

s.297 Revoking recognition.

amended 24 times (opens in a new tab)

s.298 Directions and revocation: procedure.

amended 32 times (opens in a new tab)

s.299 Complaints about recognised bodies.

s.300 Extension of functions of Tribunal.

s.300 Power of appropriate regulator to disallow excessive regulatory provision

amended 4 times

s.300 Duty to notify proposal to make regulatory provision Regulated

Notify the FCA or PRA before making new regulatory rulesAny Person

amended 4 times

s.300 Restriction on making provision before appropriate regulator decides whether to act Regulated

Do not implement new regulatory provisions during the regulator's review periodAny Person
Do not make regulatory provision before the regulator’s decision period endsAny Person

amended 4 times

s.300 Consideration by appropriate regulator whether to disallow proposed provision Regulated

Do not implement new rules until the regulator confirms they are allowedAny Person

amended 4 times

s.300 Power to disallow excessive regulatory provision: supplementary

amended 4 times

s.300 Rules relating to central counterparties and central securities depositories

amended 4 times

s.300 Section 300F: rules in relation to overseas FMI entities

amended 4 times

s.300 Rules relating to investment exchanges and data reporting service providers

amended 4 times

s.300 Duty of Bank of England to review rules

amended 4 times

s.300 Statement of policy relating to review of rules

amended 4 times

s.300 Requirement to review specified rules

amended 4 times

s.300 Report on certain reviews

amended 4 times

s.300 Power of Treasury to require making of rules by regulations

amended 4 times

s.301 Supervision of certain contracts.

s.301 Obligation to notify the FCA : acquisitions of control Prosecution

Notify the FCA before acquiring or increasing control of a recognised investment exchangeFinancial Services Firm

Unlimited fine · amended 7 times

s.301 Requirements for section 301A notices

amended 7 times

s.301 Acknowledgment of receipt

amended 7 times

s.301 Acquiring and increasing control

amended 7 times

s.301 Disregarded holdings

amended 7 times

s.301 Assessment: general

amended 7 times

s.301 Assessment: Procedure

amended 7 times

s.301 Duration of approval

amended 7 times

s.301 Objections by the FCA

amended 7 times

s.301 Restriction notices

amended 7 times

s.301 Orders for sale of shares

amended 7 times

s.301 Offences under this Chapter Regulated

Breach of FCA acquisition control obligationsAny Person

amended 7 times

s.301 Interpretation

amended 7 times

s.302 Interpretation.

s.303 Initial report by OFT.

s.304 Further reports by OFT.

s.305 Investigations by OFT.

s.306 Consideration by Competition Commission.

s.307 Recognition orders: role of the Treasury.

s.309 Requirement for approval Regulated

Get FCA/PRA approval before appointing senior managersEmployer

s.309 Applications for approval Regulated

Apply for regulatory approval before a person takes up a senior management roleAny Person

s.309 Vetting by relevant recognised bodies Regulated

Vet senior management candidates before applying for approvalAny Person

s.309 Changes in responsibilities Regulated

Notify regulator of changes to senior manager responsibilitiesAny Person

s.309 Withdrawing approval Regulated

Recognised body must review and report approval groundsEmployer

s.309 Certification of employees by relevant recognised bodies Regulated

Ensure employees have valid certificates for specified functionsEmployer

s.310 Procedure on exercise of certain powers by the Treasury.

s.311 The Chapter I prohibition.

s.312 The Chapter II prohibition.

amended 36 times (opens in a new tab)

s.312 Exercise of passport rights by EEA market operator

amended 1 time

s.312 Removal of passport rights from EEA market operator

amended 1 time

s.312 Exercise of passport rights by recognised investment exchange

amended 1 time

s.312 Interpretation of Chapter 3A

amended 1 time

s.312 Public censure

amended 1 time

s.312 Financial penalties

amended 1 time

s.312 Central securities depositories: further disciplinary measures

amended 1 time

s.312 Proposal to take disciplinary measures

amended 1 time

s.312 Decision notice

amended 1 time

s.312 Publication Regulated

Other duties (1) — Crown / regulator

Regulator must send copies of disciplinary statements to affected partiesStatutory regulator

amended 1 time

s.312 Statement of policy Regulated

Other duties (1) — Crown / regulator

Regulators must publish and follow a policy on penalties and prohibitionsStatutory regulator

amended 1 time

s.312 Statement of policy: procedure

amended 1 time

s.312 Critical third parties

amended 1 time

s.312 Power to make rules

amended 1 time

s.312 Power of direction

amended 1 time

s.312 Directions: procedure

amended 1 time

s.312 Information gathering and investigations

amended 1 time

s.312 Power of censure

amended 1 time

s.312 Disciplinary measures

amended 1 time

s.312 Procedure and right to refer to Tribunal

amended 1 time

s.312 Statement of policy relating to disciplinary measures

amended 1 time

s.312 Duty to ensure co-ordinated exercise of functions etc

amended 1 time

s.312 Memorandum of understanding Regulated

Other duties (2) — Crown / regulator

Regulators must publish a memorandum on how they work togetherStatutory regulator
FCA, PRA and SRA must maintain a public memorandum of understandingStatutory regulator

amended 1 time

s.312 Application of provisions of this Act to this Chapter

amended 1 time

s.313 Interpretation of Part XVIII.

29 other sections in this Part — procedural and definitional

s.308 Directions by the Treasury.

s.309 Statements by the Treasury.

s.309 Recognised bodies to which this Chapter applies

s.309 Part 18 prohibition orders

s.309 Procedure for making Part 18 prohibition orders

s.309 Varying and withdrawing Part 18 prohibition orders

s.309 Offence of breaching prohibition

s.309 Duty in relation to prohibited individuals

s.309 Rules under section 309G(3): transitional provision

s.309 Determining applications: power to grant approval

s.309 Determining applications: period for approval

s.309 Determining applications: further procedure

s.309 Procedure for withdrawing approval

s.309 Varying approval at request of relevant recognised body

s.309 Varying approval on the appropriate regulator’s initiative

s.309 Statement of policy on approval

s.309 Breach of statutory duty by relevant recognised bodies

s.309 Power to impose penalties

s.309 Procedure for imposing penalties

s.309 Statement of policy on penalties

s.309 Procedure for statement of policy on penalties

s.309 Interpretation of Chapter 2A

s.309 Rules of conduct

s.309 Power to take disciplinary action for misconduct

s.309 Meaning of “misconduct”

s.309 Procedure for disciplinary action

s.309 Statement of policy about disciplinary action

s.309 Procedure for statement of policy about disciplinary action

s.309 Power to apply this Chapter to credit rating agencies

Part 19

Lloyd’s

10 of 12 sections shown

s.314 Regulators' general duty.

s.314 The PRA's objectives in relation to Lloyd's etc

amended 4 times

s.315 The Society: regulated activities

s.316 Direction by a regulator

s.317 The core provisions.

s.318 Exercise of powers through Council.

s.319 Consultation.

s.320 Former underwriting members.

s.321 Requirements imposed under section 320.

s.322 Rules applicable to former underwriting members.

2 other sections in this Part — procedural and definitional

s.323 Transfer schemes.

s.324 Interpretation of this Part.

Part 20

PENSIONS GUIDANCE

1 of 18 sections shown

s.333 Offence of falsely claiming to be giving pensions guidance under arrangements made with Secretary of State Regulated

Falsely claim to be giving authorised pensions guidanceAny Person

17 other sections in this Part — procedural and definitional

s.333 Introduction and definitions

s.333 Secretary of State’s role in relation to pensions guidance

s.333 Giving of pensions guidance

s.333 Financial assistance to bodies involved in giving pensions guidance

s.333 Designation of providers of pensions guidance

s.333 Co-operation and information sharing

s.333 Standards for giving of pensions guidance by designated guidance providers

s.333 Monitoring of compliance with standards by designated guidance providers

s.333 Failure by designated guidance providers to comply with standards: FCA recommendations

s.333 FCA policy on making recommendations under section 333J

s.333 FCA policy on making recommendations under section 333J: procedure

s.333 Failure by designated guidance providers to comply with standards: ... directions

s.333 Directions to designated guidance providers under section 333M: relationship with power to revoke a designation

s.333 FCA's duties

s.333 Power of the FCA to give guidance

s.333 Funding of FCA's pensions guidance costs

s.333 Funding of Secretary of State’s pensions guidance costs

Part 20

Illegal Money Lending

0 of 2 sections shown

2 other sections in this Part — procedural and definitional

s.333 Financial assistance for action against illegal money lending

s.333 Funding of action against illegal money lending

Part 20

Provision of Financial Services by Members of the Professions

8 of 9 sections shown

s.325 FCA's general duty.

s.326 Designation of professional bodies.

s.327 Exemption from the general prohibition.

s.328 Directions in relation to the general prohibition.

s.329 Orders in relation to the general prohibition.

s.330 Consultation.

s.331 Procedure on making or varying orders under section 329.

s.332 Rules in relation to persons to whom the general prohibition does not apply.

1 other section in this Part — procedural and definitional

s.333 False claims to be a person to whom the general prohibition does not apply.

Part 21

Mutual Societies

6 of 6 sections shown

s.334 The Friendly Societies Commission.

s.335 The Registry of Friendly Societies.

s.336 The Building Societies Commission.

s.337 The Building Societies Investor Protection Board.

s.338 Industrial and provident societies and credit unions.

s.339 Supplemental provisions.

Part 22

Auditors and Actuaries

14 of 15 sections shown

s.339 General duties of PRA in relation to auditors

amended 1 time

s.339 Duty to meet auditors of certain institutions Regulated

Other duties (2) — Crown / regulator

FCA and PRA must meet with auditors of major financial institutions annuallyStatutory regulator
FCA and PRA must hold annual meetings with auditors of certain firmsStatutory regulator

amended 1 time

s.339 PRA-authorised persons to which this section applies

amended 1 time

s.340 Appointment.

s.342 Information given by auditor or actuary to a regulator.

amended 19 times (opens in a new tab)

s.343 Information given by auditor or actuary to a regulator : persons with close links.

s.344 Duty of auditor or actuary resigning etc. to give notice. Regulated

Auditors and actuaries must notify regulators of resignation or removalAny Person
Notify FCA/PRA when you cease acting as auditor or actuary for a regulated firmAny Person

s.345 Disciplinary measures: FCA

amended 57 times (opens in a new tab)

s.345 Disciplinary measures: PRA

amended 5 times

s.345 Procedure and right to refer to Tribunal

amended 5 times

s.345 Duty on publication of statement Regulated

Other duties (2) — Crown / regulator

Regulator must send copy of published statement to auditor/actuary and decision notice recipientsStatutory regulator
Regulators must send copies of published disciplinary statements to affected partiesStatutory regulator

amended 5 times

s.345 Imposition of penalties on auditors or actuaries: statement of policy

amended 5 times

s.345 Statements of policy: procedure

amended 5 times

s.346 Provision of false or misleading information to auditor or actuary. Prosecution

Give false or misleading information to auditor or actuaryDirector or Officer

Unlimited fine

1 other section in this Part — procedural and definitional

s.341 Access to books etc.

Part 23

Public Record, Disclosure of Information and Co-operation

19 of 19 sections shown

s.347 The record of authorised persons etc.

s.347 Duty of PRA to disclose information relevant to the record

amended 57 times

s.348 Restrictions on disclosure of confidential information by FCA, PRA etc.

amended 58 times (opens in a new tab)

s.349 Exceptions from section 348.

amended 48 times (opens in a new tab)

s.350 Disclosure of information by the Inland Revenue.

s.351 Competition information.

s.351 Disclosure under the UCITS directive

amended 6 times

s.352 Offences. Prosecution

Disclose or use confidential information without authorisationAny Person
Unlawful disclosure or use of confidential informationAny Person

Unlimited fine · amended 36 times (opens in a new tab)

s.353 Removal of other restrictions on disclosure.

s.353 Information received from Bank of England

amended 9 times

s.354 Authority’s duty to co-operate with others.

s.354 FCA's duty to co-operate with others

amended 2 times

s.354 PRA's duty to co-operate with others Regulated

Other duties (2) — Crown / regulator

PRA must co-operate with other financial authorities and stability bodiesStatutory regulator
PRA must co-operate with other regulators and financial stability bodiesStatutory regulator

amended 2 times

s.354 PRA's duty to provide information to Bank of England

amended 2 times

s.354 Information under the markets in financial instruments directive

amended 2 times

s.354 Competent authorities under the markets in financial instruments directive: designation and co-operation

amended 2 times

s.354 Information under the transparency obligations directive

amended 2 times

s.354 Information under the UCITS directive

amended 2 times

s.354 Information under the Insurance Distribution Directive

amended 2 times

Part 24

Insolvency

38 of 41 sections shown

s.355 Interpretation of this Part.

s.355 Powers of FCA and PRA to participate in proceedings

amended 7 times

s.355 Enforcement of requirements imposed by section 355A

amended 7 times

s.356 Powers of FCA and PRA to participate in proceedings: company voluntary arrangements.

s.357 Powers of FCA and PRA to participate in proceedings: individual voluntary arrangements.

s.358 Powers of FCA and PRA to participate in proceedings: trust deeds for creditors in Scotland.

amended 19 times (opens in a new tab)

s.359 Administration order

s.360 Insurers.

s.361 Administrator’s duty to report to FCA and PRA

s.362 Powers of FCA and PRA to participate in proceedings.

s.362 Administrator appointed by company or directors

amended 27 times

s.363 Powers of FCA and PRA to participate in proceedings.

s.364 Receiver’s duty to report to FCA and PRA

s.365 Powers of FCA and PRA to participate in proceedings.

s.366 Insurers effecting or carrying out long-term contracts or insurance. Regulated

Get PRA consent before voluntarily winding up a long-term insurerFinancial Services Firm

amended 18 times (opens in a new tab)

s.367 Winding-up petitions.

s.368 Winding-up petitions: EEA and Treaty firms.

s.369 Insurers: service of petition etc. on FCA and PRA. Regulated

Notify regulators if you apply to wind up an insurance companyAny Person
Serve winding-up petition or provisional liquidator application on FCA/PRAAny Person

s.369 Reclaim funds: service of petition etc on FCA and PRA

amended 6 times

s.370 Liquidator's duty to report to FCA and PRA

s.371 Powers of FCA and PRA to participate in proceedings.

s.372 Petitions.

s.373 Insolvency practitioner’s duty to report to FCA and PRA. Regulated

Report unauthorised regulated activities by bankrupt individuals to FCA/PRADirector or Officer

s.374 Powers of FCA or PRA to participate in proceedings.

s.375 Right of FCA and PRA to apply for an order.

s.376 Continuation of contracts of long-term insurance where insurer in liquidation.

s.377 Reducing the value of contracts instead of winding up.

amended 44 times (opens in a new tab)

s.377 Write-down orders

amended 3 times

s.377 Excluded liabilities

amended 3 times

s.377 Application for a write-down order Regulated

Obtain PRA consent before applying for an insurer write-down orderFinancial Services Firm

amended 3 times

s.377 Powers of the FCA and PRA to participate in proceedings

amended 3 times

s.377 Powers of the court

amended 3 times

s.377 Duty to notify creditors Regulated

Notify regulators and creditors of a write-down orderFinancial Services Firm

amended 3 times

s.377 The manager

amended 3 times

s.377 Write-down order ceasing to have effect

amended 3 times

s.377 Variation or revocation of a write-down order

amended 3 times

s.377 Further provision about write-down orders

amended 3 times

s.377 Insurers in financial difficulties: enforcement of contracts

amended 3 times

3 other sections in this Part — procedural and definitional

s.378 Treatment of assets on winding up.

s.379 Winding-up rules.

s.379 Power to apply settlement finality regime to payment institutions

Part 25

Injunctions and Restitution

7 of 7 sections shown

s.380 Injunctions.

s.381 Injunctions in cases of market abuse.

amended 31 times (opens in a new tab)

s.382 Restitution orders.

s.383 Restitution orders in cases of market abuse.

amended 40 times (opens in a new tab)

s.384 Power of FCA or PRA to require restitution.

s.385 Warning notices.

s.386 Decision notices.

Part 26

Notices

16 of 16 sections shown

s.387 Warning notices. Regulated

Other duties (2) — Crown / regulator

Regulators must issue a formal warning notice before taking actionStatutory regulator
Regulators must issue warning notices with specific content and a minimum 14-day response periodStatutory regulator

amended 18 times (opens in a new tab)

s.388 Decision notices.

s.389 Notices of discontinuance.

amended 14 times (opens in a new tab)

s.390 Final notices. Regulated

Other duties (2) — Crown / regulator

Regulators must issue a Final Notice before taking enforcement actionStatutory regulator
Regulators must issue final notices with specified content after enforcement decisionsStatutory regulator

amended 34 times (opens in a new tab)

s.391 Publication.

amended 101 times (opens in a new tab)

s.391 Publication: special provisions relating to capital requirements

amended 101 times

s.391 Publication: special provisions relating to transparency obligations

amended 101 times

s.391 Publication: special provisions relating to UCITS Regulated

Other duties (2) — Crown / regulator

FCA must publish UCITS-related sanction notices and appeal outcomesStatutory regulator
FCA must publish details of sanctions and appeals regarding UCITSStatutory regulator

amended 101 times

s.391 Publication: special provisions relating to markets in financial instruments

amended 101 times

s.391 Publication: special provisions relating to insurance distribution

amended 101 times

s.391 Publication: special provisions relating to the prospectus regulation Regulated

Other duties (1) — Crown / regulator

FCA must publish prospectus sanctions on anonymous basis or defer if neededStatutory regulator

amended 101 times

s.392 Application of sections 393 and 394.

amended 51 times (opens in a new tab)

s.393 Third party rights.

amended 31 times (opens in a new tab)

s.394 Access to FCA or PRA material.

amended 26 times (opens in a new tab)

s.395 The FCA's and PRA's procedures.

amended 57 times (opens in a new tab)

s.396 Statements under section 395: consultation.

Part 27

Offences

7 of 7 sections shown

s.397 Misleading statements and practices.

s.398 Misleading FCA or PRA : residual cases. Prosecution

Providing false or misleading information to financial regulatorsAny Person

Unlimited fine · amended 63 times (opens in a new tab)

s.399 Misleading the CMA.

s.400 Offences by bodies corporate etc.

amended 36 times (opens in a new tab)

s.401 Proceedings for offences.

s.402 Power of FCA to institute proceedings for certain other offences. Regulated

Other duties (2) — Crown / regulator

FCA may prosecute for insider dealing and money laundering offencesStatutory regulator
FCA must comply with Treasury restrictions when prosecuting certain financial offencesStatutory regulator

amended 21 times (opens in a new tab)

s.403 Jurisdiction and procedure in respect of offences.

Part 28

Miscellaneous

27 of 32 sections shown

s.404 Consumer redress schemes

s.404 Rules under s.404: supplementary

amended 4 times

s.404 Complaints to the ombudsman scheme

amended 4 times

s.404 Enforcement

amended 4 times

s.404 Applications to Tribunal to quash rules or provision of rules

amended 4 times

s.404 Meaning of “consumers”

amended 4 times

s.404 Other definitions etc

amended 4 times

s.404 Power to widen the scope of consumer redress schemes

amended 4 times

s.405 Directions.

s.407 Consequences of a direction under section 405.

s.409 Gibraltar.

s.409 Consultation in relation to deference decisions

amended 12 times

s.409 Notification in relation to international trade obligations

amended 12 times

s.410 International obligations.

s.410 Fees to meet certain expenses of the Treasury

amended 7 times

s.410 Directions in pursuance of section 410A

amended 7 times

s.411 Tax treatment of levies and repayments.

s.412 Gaming contracts.

s.412 Approval and monitoring of trade-matching and reporting systems

amended 2 times

s.412 Procedure for approval and suspension or withdrawal of approval

amended 2 times

s.413 Protected items.

s.414 Service of notices.

s.415 Jurisdiction in civil proceedings.

amended 116 times (opens in a new tab)

s.415 Powers under the Act

amended 4 times

s.415 Application of powers to formerly authorised persons

amended 4 times

s.415 Consultation in relation to taking certain enforcement action

amended 4 times

s.415 Co-operation and consultation in relation to exercise of functions Regulated

Other duties (2) — Crown / regulator

FCA and other financial bodies must coordinate and report on cooperationStatutory regulator
FCA and other relevant organisations must cooperate, consult, publish compliance reports annuallyStatutory regulator

amended 4 times

5 other sections in this Part — procedural and definitional

s.406 Interpretation of section 405.

s.408 EFTA firms.

s.416 Provisions relating to industrial assurance and certain other enactments.

s.416 SDR policy statement

s.416 FCA and PRA rules etc

Part 29

Interpretation

12 of 19 sections shown

s.417 Definitions.

s.418 Carrying on regulated activities in the United Kingdom.

s.420 Parent and subsidiary undertaking.

s.421 Group.

s.421 Meaning of “participating interest”

amended 1 time

s.421 Immediate group

amended 1 time

s.422 Controller.

amended 24 times (opens in a new tab)

s.422 Disregarded holdings

amended 5 times

s.425 Expressions relating to authorisation ... in the single market.

s.425 Consumers: regulated activities etc carried on by authorised persons

amended 24 times

s.425 Consumers: regulated activities carried on by others

amended 24 times

s.425 “Qualifying provision”

amended 24 times

7 other sections in this Part — procedural and definitional

s.419 Carrying on regulated activities by way of business.

s.419 Claims management services

s.419 Carrying on claims management activity in Great Britain

s.423 Manager.

s.423 Mortgage agreements etc

s.424 Insurance.

s.424 Investment firm

Part 30

Supplemental

6 of 8 sections shown

s.426 Consequential and supplementary provision.

s.427 Transitional provisions.

s.428 Regulations and orders.

amended 59 times (opens in a new tab)

s.429 Parliamentary control of statutory instruments.

s.430 Extent.

s.431 Commencement.