| Guvnor

Enforced by: FCA, PRA
Status: Amended (in force with amendments)

What it defines

Sections creating concrete business duties or carrying penalties, grouped as the instrument is structured. Titles link to the source text — blue means you’re leaving for legislation.gov.uk.

Part 1

The Bank of England

0 of 17 sections shown

17 other sections in this Part — procedural and definitional

s.001 Membership of court of directors

s.002 Term of office of non-executive directors

s.003 Abolition of Oversight Committee

s.004 Functions of non-executive directors

s.005 Financial stability strategy

s.006 Financial Policy Committee: status and membership

s.007 Monetary Policy Committee: membership

s.008 Monetary Policy Committee: procedure

s.009 Audit

s.010 Activities indemnified by Treasury

s.011 Examinations and reviews

s.012 Bank to act as Prudential Regulation Authority

s.013 Prudential Regulation Committee

s.014 Accounts relating to Bank's functions as Prudential Regulation Authority

s.015 Transfer of property

s.016 Amendments relating to Part 1

s.017 Saving and transitional provision relating to Part 1

Part 2

Financial services

0 of 20 sections shown

20 other sections in this Part — procedural and definitional

s.018 Appointment of Financial Conduct Authority chief executive

s.019 Treasury recommendations to Financial Conduct Authority

s.020 Regulatory principles: diversity

s.021 Extension of relevant authorised persons regime to all authorised persons

s.022 Rules about controlled functions: power to make transitional provision

s.023 Administration of senior managers regime

s.024 Rules of conduct

s.025 Misconduct

s.026 Decisions causing a financial institution to fail: meaning of insolvency

s.027 Enforceability of agreements relating to credit

s.028 Enforceability of agreements made through unauthorised persons

s.029 Illegal money lending

s.030 Money laundering and terrorist financing

s.031 Transformer vehicles

s.032 Pensions guidance

s.033 Advice about transferring or otherwise dealing with annuity payments

s.034 Independent advice on conversions and transfers of pension benefits: appointed representatives

s.035 Early exit pension charges

s.036 Duty of Bank to provide information to Treasury

s.037 Financial Services and Markets Act 2000 (Consequential Amendments and Repeals) Order 2001

Part 3

Miscellaneous and general

0 of 5 sections shown

5 other sections in this Part — procedural and definitional

s.038 Banks authorised to issue banknotes in Scotland and Northern Ireland

s.039 Consequential provision

s.040 Extent

s.041 Commencement

s.042 Short title

Schedules

0 of 102 shown

102 other schedules

s.sch002 The Bank of England Act 1998 is amended as follows....

s.sch002 Omit section 7A(9)(a) (definition of “qualifying company”).

s.sch002 In section 9B(4) (Financial Policy Committee) for “Oversight Committee” substitute...

s.sch002 In section 9O (FPC recommendations within the Bank), after subsection...

s.sch002 (1) Section 9Y (directions requiring information or documents) is amended...

s.sch002 (1) Section 9Z (further provisions about directions under section 9Y)...

s.sch002 In section 14 (publications of statements about decisions)—

s.sch002 (1) Section 16 (functions of Oversight Committee) is amended as...

s.sch002 In section 18(6) (reports) after “as soon as” insert “...

s.sch002 In section 40(2) (orders) after “under—” insert— “ section 1A(1),...

s.sch002 (1) Schedule 1 (court of directors) is amended as follows....

s.sch002 In section 2 (functions of court of directors), for subsection...

s.sch002 (1) Schedule 2A (Financial Policy Committee) is amended as follows....

s.sch002 (1) Schedule 3 (Monetary Policy Committee) is amended as follows....

s.sch002 (1) Schedule 7 (restriction on disclosure of information) is amended...

s.sch002 In section 4(1) of the Bank of England Act 1946...

s.sch002 In Part 3 of Schedule 1 to the House of...

s.sch002 In Part 3 of Schedule 1 to the Northern Ireland...

s.sch002 The Financial Services and Markets Act 2000 is amended as...

s.sch002 Omit section 2O (independent reviews of PRA).

s.sch002 Omit section 2P (right to obtain documents etc for purposes...

s.sch002 In section 3C (duty to follow principles of good governance),...

s.sch002 In section 2A(2) (financial stability objective) for “, the Financial...

s.sch002 (1) Section 3Q (co-operation by FCA and PRA with Bank...

s.sch002 In section 3R(2) (arrangements for provision of services by and...

s.sch002 After section 3S insert— Interpretation Interpretation In this Part “enactment” includes— (a) an enactment contained in...

s.sch002 (1) Section 137J (rules about recovery plans) is amended as...

s.sch002 (1) Section 137K (rules about resolution packs) is amended as...

s.sch002 (1) Section 138F (notification of rules) is amended as follows....

s.sch002 (1) Section 165 (regulators' power to require information: authorised persons...

s.sch002 (1) Section 165A (PRA's power to require information: financial stability)...

s.sch002 In section 187A(5A) (assessment: consultation by PRA with FCA) for...

s.sch002 (1) Section 189 (assessment procedure) is amended as follows.

s.sch002 (1) Section 3A (oversight functions) is amended as follows.

s.sch002 In section 190(1A) (requests for further information), after “189(1A)” insert...

s.sch002 In section 192F(3) (consultation between regulators)— (a) for “either regulator”...

s.sch002 In section 192I(1)(a) (statement of policy relating to directions) after...

s.sch002 In section 285A(3)(a) (which introduces Part 1 of Schedule 17A)...

s.sch002 In section 345A (PRA disciplinary measures) omit subsection (6).

s.sch002 (1) Section 348 (restrictions on disclosure of confidential information) is...

s.sch002 (1) Section 353A (restriction on disclosing information received from Bank)...

s.sch002 In section 354B(2) (PRA's duty to co-operate) for the words...

s.sch002 Omit section 354C (PRA's general duty to provide information to...

s.sch002 In section 417(1) (definitions) after the definition of “authorised person”...

s.sch002 (1) Section 3C (reviews) is amended as follows.

s.sch002 (1) Schedule 1ZB (Prudential Regulation Authority) is amended as follows....

s.sch002 (1) Schedule 17A (exercise of Part 18 functions by Bank...

s.sch002 The Banking Act 2009 is amended as follows.

s.sch002 In section 83ZZ (co-operation)— (a) at the end of paragraph...

s.sch002 (1) Section 83Z1 (delegation of enforcement functions) is amended as...

s.sch002 In section 89L(2)(c)(i) (application of section 348 of Financial Services...

s.sch002 (1) Section 96 (ground for applying for bank insolvency order)...

s.sch002 (1) Section 108 (removal of bank liquidator by court) is...

s.sch002 In section 117(2)(a) (consents required for making of bank insolvency...

s.sch002 (1) In section 129A (modifications for banks not regulated by...

s.sch002 In section 3D(1) (publication of reports of performance reviews) for...

s.sch002 Omit section 204(4)(ba) (Bank may disclose information to PRA).

s.sch002 Omit section 246(2)(b) (Bank may disclose information to PRA).

s.sch002 Before section 257 insert— Bank of England” and “Prudential Regulation...

s.sch002 In section 261 (index of defined terms), at the appropriate...

s.sch002 The Financial Services Act 2012 is amended as follows.

s.sch002 In section 85(8) (definition of relevant functions) for “2A(6)” substitute...

s.sch002 (1) Section 117 (interpretation) is amended as follows.

s.sch002 In section 98(5)(d) of the Financial Services (Banking Reform) Act...

s.sch002 The following provisions are repealed. Short title and chapter Extent...

s.sch002 In section 3E(2) (recommendations resulting from review) for “Oversight Committee”...

s.sch002 (1) Section 3F (oversight: further provisions) is amended as follows....

s.sch002 (1) Section 4 (annual report by the Bank) is amended...

s.sch003 In this Schedule— “the Bank” means the Bank of England;...

s.sch003 (1) The transfer of functions from the company to the...

s.sch003 (1) Sub-paragraph (2) applies to anything that—

s.sch003 There may be continued by or in relation to the...

s.sch003 An order made under section 2A(6)(d) of the Financial Services...

s.sch003 (1) Sub-paragraph (2) applies to the strategy determined by the...

s.sch003 (1) Sub-paragraph (2) applies to the budget adopted by the...

s.sch003 (1) Sub-paragraphs (2) and (3) apply to the first report...

s.sch003 (1) The company may disclose to the Bank any information...

s.sch003 (1) This paragraph applies for the purposes of Part 8...

s.sch003 (1) Section 2A(1) and (3) of the Financial Services and...

s.sch003 (1) Sub-paragraph (2) applies to any provision in a document...

s.sch004 The Financial Services and Markets Act 2000 is amended as...

s.sch004 (1) Section 63ZB (variation of senior manager's approval on initiative...

s.sch004 (1) Section 63E (certification of employees by relevant authorised persons)...

s.sch004 (1) Section 63F (issuing of certificates) is amended as follows....

s.sch004 (1) Section 64A (rules of conduct) is amended as follows....

s.sch004 (1) Section 64B (conduct rules) is amended as follows.

s.sch004 (1) Section 64C (requirement to notify regulator of disciplinary action)...

s.sch004 (1) Section 66A (misconduct: action by FCA) is amended as...

s.sch004 (1) Section 66B (misconduct: action by PRA) is amended as...

s.sch004 Omit section 71A (meaning of “relevant authorised person”).

s.sch004 (1) Section 347 (record of authorised persons etc) is amended...

s.sch004 (1) Section 59 (approval for particular arrangements) is amended as...

s.sch004 In section 415B(5) (consultation in relation to enforcement action), in...

s.sch004 In section 429(1)(a) (orders subject to affirmative resolution procedure) omit...

s.sch004 (1) The Financial Services (Banking Reform) Act 2013 is amended...

s.sch004 After section 59ZA insert— Designated senior management functions For the purposes of this Part the following are “designated...

s.sch004 (1) Section 60 (applications for approval) is amended as follows....

s.sch004 (1) Section 60A (vetting of candidates by relevant authorised persons)...

s.sch004 (1) Section 61 (determination of applications) is amended as follows....

s.sch004 In section 62A(4) (changes in responsibilities of senior managers -...

s.sch004 In section 63(2A) (authorised person's duty to review approvals)—

s.sch004 In the heading of section 63ZA (variation of senior manager's...

Connected legislation

Instruments made under this Act. They carry the detail the Act delegates.

The Bank of England and Financial Services Act 2016 (Commencement No. 4 and Saving Provision) Regulations 2017 SI 2017/43

The Bank of England and Financial Services Act 2016 (Commencement No. 5 and Transitional Provisions) Regulations 2018 SI 2018/990

The Bank of England and Financial Services Act 2016 (Commencement No. 6 and Transitional Provisions) (Amendment) Regulations 2020 SI 2020/929

The Bank of England and Financial Services Act 2016 (Commencement No. 6 and Transitional Provisions) Regulations 2019 SI 2019/1136

Duty extraction and severity labels are Guvnor’s analysis of the instrument, not the instrument itself. Always verify against the linked source text.