UK Act of Parliament 2000 United Kingdom

Financial Services and Markets Act 2000

View on legislation.gov.uk (opens in a new tab) Ask Guv about this Act

At a glance

Enforced by

FCA, Takeover Panel, SRA, PRA, PSR

What's here

92 compliance obligations, 73 practical guides across 7 topics · 31 journeys · 248 statutory instruments

Penalty landscape

4 of 92 obligations carry up to 2 years imprisonment. 3 carry different penalties and 85 have no criminal penalty — flagged in the list below.

Who this Act binds

Business-side actors with duties under this Act, ranked by how often they appear.

  • Any Person 17
  • Operator 4
  • Director or Officer 3
  • Trader 1
  • Trustee 1
  • Applicant 1

Plus 65 non-business duties on Crown ministers, regulators, local authorities or tribunals — shown collapsed under each section below.

Step-by-step journeys using this legislation

Walkthroughs that take you from a real business situation to compliance.

Relevant guidance

Practical guides for businesses affected by this Act, ordered by how closely they engage with it.

Direct — cites this Act

28 guides

Supporting — topic alignment

30 guides

Mentioned in related content

15 guides
View all 73 guides →

Other Acts binding the same actors

For each actor bound by this Act, the other UK Acts that bind them most often. Useful for understanding the full compliance landscape facing each role.

Any Person also bound by 749 other Acts (top 5 shown)
Operators also bound by 125 other Acts (top 5 shown)
Directors and Officers also bound by 224 other Acts (top 5 shown)
Traders also bound by 219 other Acts (top 5 shown)
Trustees also bound by 8 other Acts (top 5 shown)
Applicants also bound by 146 other Acts (top 5 shown)

What this Act requires

Sections that create concrete duties on businesses or carry penalties. Procedural and definitional sections are folded into the “Browse other sections” expander at the bottom of each group. Click any section title to read the source text on legislation.gov.uk.

Part 1A — The Regulators

s.001

The Financial Conduct Authority

Other duties (1) — Crown / regulator
  • FCA must exercise its legal functions and follow constitutional rules Statutory regulator
s.001

The FCA's general duty to consult

Other duties (1) — Crown / regulator
  • FCA must consult practitioners and consumers on its policies Statutory regulator
s.001

The FCA Practitioner Panel

Other duties (1) — Crown / regulator
  • FCA must establish and maintain a Practitioner Panel Statutory regulator
s.001

Statement of policy on panel appointments

Other duties (1) — Crown / regulator
  • FCA must publish its policy on appointing panel members Statutory regulator
s.002

Insurance objective

Other duties (1) — Crown / regulator
  • PRA must protect insurance policyholders when performing its duties Statutory regulator
s.002

Secondary objectives and duty to have regard to regulatory principles

Other duties (1) — Crown / regulator
  • PRA must promote competition, growth, and international competitiveness Statutory regulator
s.002

Arrangements for supervision of PRA-authorised persons

Other duties (1) — Crown / regulator
  • PRA must maintain arrangements for supervising authorised persons Statutory regulator
s.002

The Insurance Practitioner Panel

Other duties (1) — Crown / regulator
  • PRA must establish and maintain the Insurance Practitioner Panel Statutory regulator
s.002

Duty to consider representations

Other duties (1) — Crown / regulator
  • PRA must consider and publish responses to representations from practitioners Statutory regulator
s.002

Statement of policy on panel appointments

Other duties (1) — Crown / regulator
  • PRA must publish policy on how it appoints statutory panel members Statutory regulator
s.003

Duty to follow principles of good governance

Other duties (1) — Crown / regulator
  • FCA must follow standard principles of good corporate governance Statutory regulator
s.003

Further provisions about directions under section 3M

Other duties (1) — Crown / regulator
  • Regulators must notify authorised firms of directions and reasons Statutory regulator
s.003

Consultation by regulator complying with direction

Other duties (1) — Crown / regulator
  • Regulators must share consultation feedback with the supervising regulator Statutory regulator
s.003

Report on certain reviews

Other duties (1) — Crown / regulator
  • Regulators must report to the Treasury on directed rule reviews Statutory regulator
Browse 17 other sections in this Part — procedural / definitional / commencement
s.001

The FCA's general duties

s.001

Meaning of “consumer”

s.001

Recommendations by Treasury in connection with general duties

s.001

The Consumer Panel

s.001

Reviews

s.001

Right to obtain documents and information

s.002

Interpretation of references to objectives

s.002

Right to obtain documents and information

s.003

Financial stability

s.003

Regulatory principles to be applied by both regulators

s.003

Parliamentary control of orders under section 3G

s.003

Revocation of directions under section 3I or 3J

s.003

Duty of FCA and PRA to review rules

s.003

Statement of policy relating to review of rules

s.003

Requirement to review specified rules

s.003

The consumer financial education body

s.003

Interpretation

Part I — The Regulator

Browse 7 other sections in this Part — procedural / definitional / commencement

Part II — Regulated And Prohibited Activities

Browse 6 other sections in this Part — procedural / definitional / commencement
s.022

Parliamentary control in relation to certain orders under section 22A

s.028

Credit-related agreements made unenforceable by section 26, 26A or 27

Part III — Authorisation and Exemption

Browse 6 other sections in this Part — procedural / definitional / commencement
s.039

Certain tied agents operating outside United Kingdom

Part 4A — Permission to carry on regulated activities

s.055

Applications under this Part: communications between regulators

Other duties (1) — Crown / regulator
  • PRA must notify the FCA of specific firm applications Statutory regulator
Browse 12 other sections in this Part — procedural / definitional / commencement
s.055

Application for permission

s.055

Giving permission: the FCA

s.055

Variation by FCA at request of authorised person

s.055

Variation or cancellation on initiative of regulator

s.055

Investment firms: particular conditions that enable cancellation

s.055

Imposition of requirements by PRA

s.055

Requirements under section 55L or 55M: further provisions

s.055

Requirements relating to general meetings

s.055

Persons connected with an applicant

s.055

Persons whose interests are protected

s.055

Determination of applications

s.055

Notification of the European bodies

Part IV — Permission to Carry on Regulated Activities

Browse 9 other sections in this Part — procedural / definitional / commencement
s.054

Notification of ESMA

s.054

Notification of EBA

Part 5A — Designated activities

s.071

Restrictions on carrying on of designated activities

  • Comply with restrictions and rules for designated activities Any Person
Browse 3 other sections in this Part — procedural / definitional / commencement
s.071

Designated activities: liability

s.071

Designated activities: enforcement

s.071

Designated activities and rules: connected amendments

Part V — Performance of Regulated Activities

s.062

Changes in responsibilities of senior managers

  • Update the regulator if senior manager responsibilities change significantly Any Person
s.063

Statement of policy

Other duties (1) — Crown / regulator
  • Regulators must publish penalty policies for unapproved controlled functions Statutory regulator
s.063

Exercise of power under section 63ZB: procedure

Other duties (1) — Crown / regulator
  • Regulators must follow specific procedures when changing a Senior Manager's approval Statutory regulator
s.064

Rules of conduct: responsibilities of ... authorised persons

  • Train staff on financial conduct rules and confirm their understanding Any Person
s.068

Publication.

Other duties (1) — Crown / regulator
  • Regulator must provide copies of disciplinary statements to relevant parties Statutory regulator
s.069

Statement of policy.

Other duties (1) — Crown / regulator
  • Regulators must publish their enforcement and penalty policies Statutory regulator
Browse 18 other sections in this Part — procedural / definitional / commencement
s.059

Specifying functions as controlled functions: transitional provision

s.059

Role of FCA in relation to PRA decisions

s.059

Designated senior management functions

s.063

Power to impose penalties

s.063

Statement of policy: procedure

s.063

Certification of employees by ... authorised persons

s.063

Variation of senior manager's approval on initiative of regulator

s.063

Statement of policy: procedure

s.064

Rules of conduct

s.066

Misconduct: action by the FCA

s.071

Meaning of “relevant authorised person”

s.071

Sections 71B to 71H: interpretation

Part VI — Official Listing

s.087

Supplementary prospectus

  • Notify the issuer of errors or changes in a prospectus Any Person
s.089

Action under s.89U: procedure

Other duties (1) — Crown / regulator
  • FCA must provide written notice and appeal rights before taking action Statutory regulator
s.089

Storage of regulated information

Other duties (1) — Crown / regulator
  • FCA must provide a central storage mechanism for regulated information Statutory regulator
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
Browse 28 other sections in this Part — procedural / definitional / commencement
s.087

Exemptions from disclosure

s.087

Procedure for decision to refuse an application for approval

s.087

Power to suspend scrutiny of 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

Right to refer matters to the Tribunal

s.087

Exercise of powers at request of competent authority of another EEA State

s.089

Provision of voteholder information

s.089

Notification of voting rights held by issuer

s.089

Transparency rules: interpretation etc

s.089

FCA's power to call for information

s.089

Power to call for information: supplementary provisions

s.089

Procedure under section 89L

s.089

Right to refer matters to the Tribunal

s.089

Corporate governance rules

s.089

Primary information providers

s.089

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

s.089

Statement of policy under s.89S: procedure

s.089

Powers exercisable to advance operational objectives

s.090

Liability of issuers in connection with published information

s.096

Suspension of trading

Part 7A — Unilateral changes to pension schemes

No sections of this Part have been ingested yet.

Part VII — Control of Business Transfers

s.106

Ring-fencing transfer scheme

Amended 2 times
s.109

Scheme reports: ring-fencing transfer schemes

Amended 2 times
  • Submit an approved expert report for ring-fencing transfer schemes Applicant
s.112

Rights to terminate etc.

Amended 11 times
s.112

Duty of regulator to provide copy of order

Amended 11 times
Other duties (1) — Crown / regulator
  • FCA and PRA must share business transfer orders with each other Statutory regulator
s.114

Notice of transfer of reinsurance contracts

Amended 3 times
Browse 1 other section in this Part — procedural / definitional / commencement

Part 8A — Short selling

Browse 5 other sections in this Part — procedural / definitional / commencement
s.131

Short selling rules: definitions etc

s.131

Power to require information

s.131

Power to impose penalty or issue censure

s.131

Procedure and right to refer to Tribunal

s.131

Statement of policy: procedure

Part 8B — Cash access services

s.131

Procedure for directions

Other duties (1) — Crown / regulator
  • FCA must follow specific procedures when issuing directions Statutory regulator
Browse 6 other sections in this Part — procedural / definitional / commencement
s.131

Cash access services and coordination arrangements

s.131

Provision of reports to assist the Treasury

s.131

Designation

s.131

Cancellation or variation of a designation notice

s.131

FCA rules

s.131

Disciplinary measures

Part VIII — Provisions relating to market abuse

s.123

Power to prohibit individuals from managing or dealing

Amended 5 times
s.123

Exercise of administrative sanctions

Amended 5 times
s.130

Interpretation and supplementary provision

Amended 3 times
Browse 9 other sections in this Part — procedural / definitional / commencement
s.122

Entry of premises under warrant

s.122

Retention of documents taken under section 122D

s.122

Publication of corrective statements generally

s.131

Protected Disclosures

s.131

Interpretation

s.131

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

Part 9A — Rules and Guidance

s.137

The FCA's general rules

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

Rules requiring participation in benchmark

Amended 4 times
s.137

FCA general rules: pensions dashboards

Amended 4 times
Other duties (1) — Crown / regulator
  • FCA must create rules for pension dashboard data sharing Statutory regulator
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 rules: disclosure of information about the availability of financial guidance

Amended 4 times
Other duties (1) — Crown / regulator
  • FCA must create rules for disclosing financial guidance availability Statutory regulator
s.137

FCA general rules: charges for claims management services

Amended 4 times
s.137

Remuneration policies: Treasury direction to consider compliance

Amended 4 times
s.137

Recovery plans and resolution packs : restriction on duty of confidence

Amended 4 times
s.137

Control of information rules

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

Amended 4 times
Other duties (1) — Crown / regulator
  • FCA must levy firms to recover devolved debt advice expenses Statutory regulator
s.137

General supplementary powers

Amended 4 times
s.138

Disapplication or modification of rules in individual cases

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

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

Amended 29 times
Other duties (1) — Crown / regulator
  • Regulators must assess the impact of new rules on mutual societies Statutory regulator
s.138

Consultation: general exemptions

Amended 29 times
s.138

Statement of policy under section 138N: procedure

Amended 29 times
s.138

Technical standards

Amended 29 times
s.140

Consultation with regulator

Amended 4 times
Other duties (1) — Crown / regulator
  • CMA must consult financial regulators before providing advice Statutory regulator
s.140

Investigation powers of CMA

Amended 4 times
s.140

Publication by CMA of section 140B advice

Amended 4 times
Other duties (1) — Crown / regulator
  • CMA must publish advice given to financial regulators Statutory regulator
s.140

Duty of regulator to publish response

Amended 4 times
Other duties (1) — Crown / regulator
  • Regulators must publish a response to CMA advice within 90 days Statutory regulator
Browse 2 other sections in this Part — procedural / definitional / commencement
s.141

Power to make consequential amendments of references to rules etc.

s.141

Power to consequentially amend enactments

Part 9B — Ring-fencing

s.142

Review of ring-fencing rules etc

Other duties (1) — Crown / regulator
  • PRA and FCA must conduct periodic reviews of ring-fencing rules Statutory regulator
s.142

Consultation etc. between regulators

Other duties (1) — Crown / regulator
  • Regulators must consult each other before directing ring-fencing changes Statutory regulator
Browse 6 other sections in this Part — procedural / definitional / commencement
s.142

“Ring-fenced body”

s.142

Core activities

s.142

Powers of Treasury in relation to ring-fencing rules

s.142

Procedure and right to refer to Tribunal

s.142

Imposition of penalties under section 142S: statement of policy

s.142

Power of Treasury in relation to loss-absorbency requirements

Part 9C — Prudential regulation of FCA investment firms

s.143

Duty to make rules applying to parent undertakings

Amended 2 times
Other duties (1) — Crown / regulator
  • FCA must create prudential and governance rules for parent companies Statutory regulator
s.143

Part 9C rules

Amended 2 times
s.143

Explanation to accompany consultation on rules

Amended 2 times
Other duties (1) — Crown / regulator
  • FCA must provide explanations when consulting on Part 9C rules Statutory regulator
s.143

Imposition of requirements on non-authorised parent undertakings

Amended 2 times
s.143

Right to refer matters to the Tribunal

Amended 2 times
s.143

Managers of non-authorised parent undertakings

Amended 2 times
  • Ensure management body of your parent company is fit and proper Director or Officer
s.143

Offence of breaching a Part 9C prohibition order

Unlimited fine Amended 2 times
  • Breach a Part 9C financial services prohibition order Any Person
s.143

Procedure for disciplinary measures

Amended 2 times

Part 9D — Prudential regulation of credit institutions etc

s.144

Explanation to accompany consultation on CRR rules

Amended 1 time
Other duties (1) — Crown / regulator
  • PRA must explain how it considered specific factors when proposing CRR rules Statutory regulator
s.144

Exceptions from sections 144C and 144D etc

Amended 1 time

Part IX — Hearings and Appeals

s.133

Proceedings before Tribunal: decision and supervisory notices, etc.

Amended 35 times
Browse 1 other section in this Part — procedural / definitional / commencement

Part X — Rules and Guidance

Browse 6 other sections in this Part — procedural / definitional / commencement
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

Part XI — Information Gathering and Investigations

s.165

Orders under section 165A(2)(d)

Amended 59 times
s.166

Appointment of skilled person to collect and update information

Amended 29 times
s.177

Interpretation of Part 11

Amended 28 times

Part 12A — Powers exercisable in relation to parent undertakings

s.192

Meaning of “qualifying authorised person”

Amended 6 times
s.192

Meaning of “qualifying parent undertaking”

Amended 6 times
s.192

References to Tribunal

Amended 6 times
s.192

Rules requiring provision of information by parent undertakings

Amended 6 times
s.192

Rules requiring parent undertakings to facilitate resolution

Amended 6 times

Part 12B — Approval of certain holding companies

s.192

Interpretation

Amended 6 times
s.192

Directions: procedure

Amended 6 times
Other duties (1) — Crown / regulator
  • PRA must provide notice and hearing rights before issuing directions Statutory regulator
s.192

Rules applying to holding companies

Amended 6 times
s.192

Procedure and right to refer to Tribunal

Amended 6 times

Part XII — Control Over Authorised Persons

s.180

Acknowledgment of receipt

Other duties (1) — Crown / regulator
  • Regulator must acknowledge or flag errors in control notifications Statutory regulator
s.187

Assessment: consultation by FCA with PRA

Amended 8 times
Other duties (1) — Crown / regulator
  • FCA must consult with PRA before deciding on ownership changes Statutory regulator
s.190

Assessment and resolution

Amended 13 times
Other duties (1) — Crown / regulator
  • Bank of England must manage voting rights during bank resolution acquisitions Statutory regulator
s.191

Restriction notices

Amended 1 time
s.191

Interpretation

Amended 1 time

Part 13A — Enhanced supervision of firms exercising rights under the Insurance Distribution Directive

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 XIII — Incoming Firms: Intervention by FCA or PRA

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

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 insurance distribution directive: home state regulator primarily responsible for securing compliance

Amended 9 times

Part XIV — Disciplinary Measures

s.206

Suspending permission to carry on regulated activities etc

Amended 22 times

Part 15A — Power to require FSCS manager to act in relation to other schemes

s.224

Cases where FSCS manager may decline to act

Amended 11 times
s.224

Grounds for declining to act

Amended 11 times

Part XV — The Financial Services Compensation Scheme

s.214

Contingency funding

Amended 7 times
s.214

Contribution to costs of special resolution regime

Amended 7 times
s.214

Recapitalisation payments

Amended 7 times
s.214

Notification to Parliamentary Committees

Amended 7 times
Other duties (1) — Crown / regulator
  • Bank of England must notify Parliament of recapitalisation payments Statutory regulator
s.217

Co-operation

Amended 1 time
Other duties (1) — Crown / regulator
  • Regulators and scheme manager must co-operate and publish a memorandum Statutory regulator
s.217

Insurers subject to write-down orders

Amended 1 time
Other duties (1) — Crown / regulator
  • Scheme manager must safeguard policyholders of insurers under write-down orders Statutory regulator
s.218

Treasury's power to require information from scheme manager

Amended 4 times
s.223

Borrowing from National Loans Fund

Amended 5 times
Browse 1 other section in this Part — procedural / definitional / commencement

Part 16A — Consumer protection and competition

s.234

Response by FCA

Amended 7 times
s.234

Section 234E: exceptions

Amended 7 times
s.234

Guidance

Amended 7 times
Other duties (1) — Crown / regulator
  • FCA must provide guidance on making super-complaints Statutory regulator
s.234

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

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

Amended 7 times
Other duties (1) — Crown / regulator
  • FCA must provide information and assistance to CMA investigations Statutory regulator
s.234

Exclusion of general duties

Amended 7 times
s.234

Supplementary provision

Amended 7 times

Part XVI — The Ombudsman Scheme

s.230

Reports of determinations

Amended 10 times
Other duties (1) — Crown / regulator
  • Financial Ombudsman Service must publish reports of its decisions Statutory regulator
s.232

Scheme operator's duty to provide information to FCA

Amended 8 times
Other duties (1) — Crown / regulator
  • Scheme operator must provide information to the FCA Statutory regulator
s.234

Transfers of liability

Amended 7 times

Part 17A — Transformer Vehicles

No sections of this Part have been ingested yet.

Part XVII — Collective Investment Schemes

s.243

Authorisation orders: authorised money market funds

Amended 12 times
s.261

Alteration of contractual schemes and changes of operator or depositary

  • Notify FCA of changes to contractual schemes, operators, or depositaries Operator
s.271

Schemes authorised in approved countries

Amended 1 time
s.271

Approval of country: regulatory co-operation

Amended 1 time
s.271

Report by the FCA in relation to approval

Amended 1 time
Other duties (1) — Crown / regulator
  • FCA must provide reports on overseas investment scheme regulations Statutory regulator
s.271

Power to impose requirements on schemes

Amended 1 time
  • Comply with Treasury requirements for overseas investment schemes Any Person
s.271

Determination of applications

Amended 1 time
s.271

Provision of information to the FCA

Amended 1 time
  • Provide information about your investment scheme to the FCA Operator
s.271

Suspension of recognition

Amended 1 time
s.271

Procedure when suspending recognition

Amended 1 time
Other duties (1) — Crown / regulator
  • FCA must follow specific procedures when suspending a fund's recognition Statutory regulator
s.271

Effect of variation or revocation of Treasury regulations

Amended 1 time
s.282

Obligations on operator where recognition is revoked or suspended

  • Notify affected parties if scheme recognition is revoked or suspended Operator
Browse 9 other sections in this Part — procedural / definitional / commencement
s.235

Contractual schemes

s.261

Certificates

s.261

Contractual scheme rules

s.261

Modification or waiver of rules

s.261

Effect of becoming or ceasing to be a participant

s.261

Requests for revocation of authorisation order

s.261

Procedure: revocation of direction and grant of request for variation

Part 18A — SUSPENSION AND REMOVAL OF FINANCIAL INSTRUMENTS FROM TRADING

s.313

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

Amended 36 times
s.313

Revocation of requirements: applications by institutions

Amended 36 times
s.313

Decisions on applications for revocation by issuers

Amended 36 times
s.313

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

Amended 36 times

Part XVIII — Recognised investment exchanges, clearing houses , CSDs and other parties

s.285

Powers exercisable in relation to recognised bodies etc

Amended 16 times
s.287

Application by an investment exchange: persons connected with an applicant

Amended 7 times
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.293

Information: compliance with specified requirements

Amended 17 times
s.295

On-site inspection of United Kingdom branches of third country CSDs

Amended 5 times
s.296

Additional power to direct recognised central counterparties

Amended 26 times
s.300

Restriction on making provision before appropriate regulator decides whether to act

Amended 4 times
  • Do not implement new regulatory provisions during the regulator's review period Any Person
s.300

Section 300F: rules in relation to overseas FMI entities

Amended 4 times
s.300

Requirement to review specified rules

Amended 4 times
s.301

Obligation to notify the FCA : acquisitions of control

2 years imprisonment Amended 7 times
  • Notify the FCA before acquiring or increasing control of a stock exchange Any Person
s.301

Acquiring and increasing control

Amended 7 times
s.301

Offences under this Chapter

Amended 7 times
s.312

Decision notice

Amended 1 time
s.312

Publication

Amended 1 time
Other duties (1) — Crown / regulator
  • Regulators must send copies of published statements to affected parties Statutory regulator
s.312

Statement of policy

Amended 1 time
Other duties (1) — Crown / regulator
  • Regulators must publish policies on penalties and prohibitions Statutory regulator
s.312

Statement of policy: procedure

Amended 1 time
s.312

Power of censure

Amended 1 time
s.312

Disciplinary measures

Amended 1 time
s.312

Memorandum of understanding

Amended 1 time
Other duties (1) — Crown / regulator
  • Regulators must publish a memorandum on how they work together Statutory regulator
Browse 3 other sections in this Part — procedural / definitional / commencement
s.309

Recognised bodies to which this Chapter applies

s.309

Applications for approval

s.309

Interpretation of Chapter 2A

Part XIX — Lloyd’s

s.314

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

Amended 4 times
Browse 1 other section in this Part — procedural / definitional / commencement

Part 20A — PENSIONS GUIDANCE

s.333

Offence of falsely claiming to be giving pensions guidance under arrangements made with Secretary of State

2 years imprisonment
  • Falsely claiming to provide government-backed pensions guidance Any Person
Browse 7 other sections in this Part — procedural / definitional / commencement
s.333

Giving of pensions guidance

s.333

Financial assistance to bodies involved in giving pensions guidance

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

FCA's duties

s.333

Power of the FCA to give guidance

s.333

Funding of FCA's pensions guidance costs

Part 20B — Illegal Money Lending

No sections of this Part have been ingested yet.

Part XX — Provision of Financial Services by Members of the Professions

Part XXI — Mutual Societies

Part XXII — Auditors and Actuaries

s.339

Duty to meet auditors of certain institutions

Amended 1 time
Other duties (1) — Crown / regulator
  • FCA and PRA must meet with auditors of major financial institutions annually Statutory regulator
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

Amended 5 times
Other duties (1) — Crown / regulator
  • Regulators must send copies of published disciplinary statements to affected parties Statutory regulator
s.345

Statements of policy: procedure

Amended 5 times

Part XXIII — Public Record, Disclosure of Information and Co-operation

s.347

Duty of PRA to disclose information relevant to the record

Amended 57 times
s.351

Disclosure under the UCITS directive

Amended 6 times
s.353

Information received from Bank of England

Amended 9 times
s.354

PRA's duty to co-operate with others

Amended 2 times
Other duties (1) — Crown / regulator
  • PRA must co-operate with other financial authorities and stability bodies Statutory regulator
s.354

Information under the transparency obligations directive

Amended 2 times

Part XXIV — Insolvency

s.377

Application for a write-down order

Amended 3 times
  • Obtain PRA consent before applying for an insurer write-down order Trader
s.377

Variation or revocation of a write-down order

Amended 3 times
Browse 1 other section in this Part — procedural / definitional / commencement

Part XXV — Injunctions and Restitution

Part XXVI — Notices

s.387

Warning notices.

Amended 28 times
Other duties (1) — Crown / regulator
  • Regulators must issue a formal warning notice before taking action Statutory regulator
s.390

Final notices.

Amended 34 times
Other duties (1) — Crown / regulator
  • Regulators must issue a Final Notice before taking enforcement action Statutory regulator
s.391

Publication: special provisions relating to capital requirements

Amended 101 times
s.391

Publication: special provisions relating to UCITS

Amended 101 times
Other duties (1) — Crown / regulator
  • FCA must publish details of sanctions and appeals regarding UCITS Statutory regulator
s.391

Publication: special provisions relating to insurance distribution

Amended 101 times
s.391

Publication: special provisions relating to the prospectus regulation

Amended 101 times
Other duties (1) — Crown / regulator
  • FCA must protect personal data when publishing prospectus sanctions Statutory regulator

Part XXVII — Offences

Part XXVIII — Miscellaneous

s.404

Complaints to the ombudsman scheme

Amended 4 times
s.404

Enforcement

Amended 4 times
s.404

Meaning of “consumers”

Amended 4 times
s.404

Other definitions etc

Amended 4 times
s.415

Powers under the Act

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

Amended 4 times
Other duties (1) — Crown / regulator
  • FCA and other financial bodies must coordinate and report on cooperation Statutory regulator
Browse 1 other section in this Part — procedural / definitional / commencement

Part XXIX — Interpretation

Browse 2 other sections in this Part — procedural / definitional / commencement
s.423

Mortgage agreements etc

Part XXX — Supplemental

Schedules

s.013

General

Unlimited fine
  • Fail to comply with a Tribunal witness summons or evidence request Any Person
s.sch019a

The manager of a write-down order

  • Provide information and assistance to the write-down order manager Director or Officer
Browse 11 other Schedules — structural / supplementary
s.sch001zb

The Prudential Regulation Authority

s.sch011a

TRANSFERABLE SECURITIES

s.sch011b

CONNECTED PERSONS

s.sch019c

Insurers in financial difficulties: enforcement of contracts

Read the full Act on legislation.gov.uk (opens in a new tab)

Official guidance

Authoritative sources published by regulators or government explaining this legislation.

Enforcement and responsible bodies

The regulators that administer or enforce this legislation.

FCA

Primary

Financial Conduct Authority

Regulation of financial services firms and markets. Supervises banks, insurers, investment firms, payment services, and cryptoasset businesses. Issues authorisations and enforces conduct …

Takeover Panel

Panel on Takeovers and Mergers

Regulates takeovers and mergers involving public companies and some private companies in the UK. Issues the Takeover Code. Ensures shareholders are treated …

SRA

Solicitors Regulation Authority

Regulates solicitors and law firms in England and Wales. Sets standards, authorises firms, investigates misconduct, and can impose sanctions including fines and …

PRA

Prudential Regulation Authority

Part of the Bank of England. Prudentially regulates and supervises around 1,292 banks, building societies, credit unions, insurers, and major investment firms. …

PSR

Payment Systems Regulator

Economic regulator for payment systems in the UK. Promotes competition, innovation, and service-user interests in payment systems. Regulates participants in designated payment …

Connected legislation

248 statutory instruments

These instruments amend, apply, or refer to this Act. They may not all create direct business obligations.

Secondary legislation (248)

+ 233 more statutory instruments

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Regulators

Learn more about the bodies that enforce this legislation.