UK Act of Parliament 2023 United Kingdom

FSMA 2023

An Act to make provision about the regulation of financial services and markets; and for connected purposes.

Read the Act on legislation.gov.uk (opens in a new tab)
Enforced by
FCA, PRA, PSR
Status
Amended (in force with amendments)
Penalty ceiling
Imprisonment 4 of 57 obligations carry an unlimited fine. 1 carries different penalties and 52 have no criminal penalty — flagged in the list below.

Does it bind you?

Business-side roles with duties under this instrument.

Any Person7 Financial Services Firm4 Responsible Person2 Trader1 Employer1 Director or Officer1

Plus 41 duties on the regulator, Crown ministers and public bodies — folded into the section list below.

Other Acts binding the same actors

If a role above is yours, these are the other instruments that most often bind it.

Any Person — also bound by 2340 other Acts
Financial Services Firm — also bound by 167 other Acts
Responsible Person — also bound by 108 other Acts
MH(CT)(S)A 2003 30 duties
Trader — also bound by 825 other Acts
Companies Act 2006 243 duties
Companies Act 1985 85 duties
Employer — also bound by 682 other Acts
TULRCA 1992 72 duties
Director or Officer — also bound by 429 other Acts
Companies Act 2006 126 duties

What it requires

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

Regulatory framework

5 of 53 sections shown
s.014 Reports on FMI sandboxes (opens in a new tab) Regulated
Other duties (1) — Crown / regulator
  • HM Treasury must publish reports on FMI sandbox performanceCrown / Minister / Government department
s.023 Digital settlement assets: power to make regulations (opens in a new tab) Imprisonment
  • Breach of digital settlement asset regulationsAny Person
s.026 Competitiveness and growth objective: reporting requirements (opens in a new tab) Regulated
Other duties (1) — Crown / regulator
  • FCA and PRA must report on competitiveness and growth complianceStatutory regulator
s.029 Review of rules (opens in a new tab) Regulated
Other duties (1) — Crown / regulator
  • FCA and PRA must regularly review their rules and publish review policiesStatutory regulator
s.049 Bank of England: rule-making powers (opens in a new tab) Regulated
Other duties (1) — Crown / regulator
  • Bank of England must review its rules and publish a review policyStatutory regulator
48 other sections in this Part — procedural and definitional
s.001 Revocation of assimilated law relating to financial services and markets (opens in a new tab)
s.002 Transitional amendments (opens in a new tab)
s.003 Power to make further transitional amendments (opens in a new tab)
s.004 Power to restate and modify saved legislation (opens in a new tab)
s.005 Power to replace references to EU directives (opens in a new tab)
s.006 Restatement in rules: exemption from consultation requirements etc (opens in a new tab)
s.007 Interpretation of Chapter (opens in a new tab)
s.008 Designated activities (opens in a new tab)
s.009 Rules relating to central counterparties and central securities depositories (opens in a new tab)
s.010 Central counterparties and central securities depositories: other requirements (opens in a new tab)
s.011 Rules relating to investment exchanges and data reporting service providers (opens in a new tab)
s.012 Treasury directions to Bank of England: restrictions (opens in a new tab)
s.013 Testing of FMI technologies or practices (opens in a new tab)
s.015 Permanent implementation of arrangements tested under an FMI sandbox (opens in a new tab)
s.016 Regulations (opens in a new tab)
s.017 Interpretation (opens in a new tab)
s.018 Critical third parties: designation and powers (opens in a new tab)
s.019 Critical third parties: related amendments (opens in a new tab)
s.020 Financial promotion (opens in a new tab)
s.021 Sustainability disclosure requirements (opens in a new tab)
s.022 Digital settlement assets (opens in a new tab)
s.024 Implementation of mutual recognition agreements (opens in a new tab)
s.025 Competitiveness and growth objective (opens in a new tab)
s.027 Regulatory principles (opens in a new tab)
s.028 Sections 25 and 27: consequential amendments (opens in a new tab)
s.030 Treasury power in relation to rules (opens in a new tab)
s.031 Matters to consider when making rules (opens in a new tab)
s.032 Effect of rules etc on deference decisions (opens in a new tab)
s.033 Effect of rules etc on international trade obligations (opens in a new tab)
s.034 Power to disapply or modify rules (opens in a new tab)
s.035 Responses to recommendations of the Treasury (opens in a new tab)
s.036 Public consultation requirements (opens in a new tab)
s.037 Engagement with statutory panels (opens in a new tab)
s.038 Engagement with Parliamentary Committees (opens in a new tab)
s.039 Reporting requirements (opens in a new tab)
s.040 Duty to co-operate and consult in exercising functions (opens in a new tab)
s.041 Listing Authority Advisory Panel (opens in a new tab)
s.042 Insurance Practitioner Panel (opens in a new tab)
s.043 Cost Benefit Analysis Panels (opens in a new tab)
s.044 Statement of policy on cost benefit analyses (opens in a new tab)
s.045 Statement of policy on panel appointments (opens in a new tab)
s.046 Composition of panels (opens in a new tab)
s.047 Panel reports (opens in a new tab)
s.048 Exercise of FMI regulatory powers (opens in a new tab)
s.050 Application of FSMA 2000 to FMI functions (opens in a new tab)
s.051 Payment Systems Regulator (opens in a new tab)
s.052 Chair of the Payment Systems Regulator as member of FCA Board (opens in a new tab)
s.053 Consultation on rules (opens in a new tab)
Part 2

Access to cash

0 of 2 sections shown
2 other sections in this Part — procedural and definitional
s.054 Cash access services (opens in a new tab)
s.055 Wholesale cash distribution (opens in a new tab)
Part 3

Performance of functions relating to financial market infrastructure

0 of 1 section shown
1 other section in this Part — procedural and definitional
s.056 Recognised bodies: senior managers and certification (opens in a new tab)
Part 4

Central counterparties in financial difficulties

0 of 1 section shown
1 other section in this Part — procedural and definitional
s.057 Central counterparties in financial difficulties (opens in a new tab)
Part 5

Insurers in financial difficulties

0 of 1 section shown
1 other section in this Part — procedural and definitional
s.058 Insurers in financial difficulties (opens in a new tab)
Part 6

Miscellaneous

2 of 21 sections shown
s.078 Politically exposed persons: review of guidance (opens in a new tab) Regulated
Other duties (1) — Crown / regulator
  • FCA must review its PEP guidance and publish conclusionsStatutory regulator
s.079 Forest risk commodities: review (opens in a new tab) Regulated
Other duties (1) — Crown / regulator
  • HM Treasury must review financial system links to illegal deforestationCrown / Minister / Government department
19 other sections in this Part — procedural and definitional
s.059 Application of provisions to regulatory functions under this Act (opens in a new tab)
s.060 Formerly authorised persons (opens in a new tab)
s.061 Control over authorised persons (opens in a new tab)
s.062 Financial services compensation scheme (opens in a new tab)
s.063 The Ombudsman scheme (opens in a new tab)
s.064 Unauthorised co-ownership AIFs (opens in a new tab)
s.065 Power to amend enactments in consequence of rules (opens in a new tab)
s.066 Ambulatory references (opens in a new tab)
s.067 Power to amend or repeal certain provisions of FSMA 2000 (opens in a new tab)
s.068 Power under FSMA 2000 to make transitional provisions (opens in a new tab)
s.069 Cryptoassets (opens in a new tab)
s.070 Bank of England levy (opens in a new tab)
s.071 Bank of England levy: consequential amendments (opens in a new tab)
s.072 Liability of payment service providers for fraudulent transactions (opens in a new tab)
s.073 Credit unions (opens in a new tab)
s.074 Reinsurance for acts of terrorism (opens in a new tab)
s.075 Banking Act 2009: miscellaneous amendments (opens in a new tab)
s.076 Arrangements for the investigation of complaints (opens in a new tab)
s.077 Politically exposed persons: money laundering and terrorist financing (opens in a new tab)
Part 7

General

0 of 8 sections shown
8 other sections in this Part — procedural and definitional
s.080 Interpretation (opens in a new tab)
s.081 Pre-commencement consultation (opens in a new tab)
s.082 Financial provision (opens in a new tab)
s.083 Power to make consequential provision (opens in a new tab)
s.084 Regulations (opens in a new tab)
s.085 Extent (opens in a new tab)
s.086 Commencement (opens in a new tab)
s.087 Short title (opens in a new tab)
Schedules

Schedules

49 of 409 shown
s.sch002 For Article 18 substitute— Article 18 Systematic internalisers: pre-trade transparency... Regulated
  • Systematic internalisers must comply with FCA pre-trade transparency rulesTrader
s.sch002 After Article 28 insert— Article 28a Suspension or modification of... Regulated
Other duties (1) — Crown / regulator
  • FCA may suspend or modify the derivatives trading obligation (DTO)Statutory regulator
s.sch002 Transparency requirements for equities Regulated
Other duties (1) — Crown / regulator
  • FCA must consider calibration when setting equity transparency standardsStatutory regulator
s.sch002 In regulation 111 (financial penalties)— (a) omit “or” at the... Prosecution
  • Contravene payment services requirementsAny Person

Unlimited fine

s.sch006 After section 203B (annual report) insert— Policy statement (1) The Bank of England must prepare a statement of... Regulated
Other duties (1) — Crown / regulator
  • Bank of England must publish policy statement on oversight of digital settlement asset payment systemsStatutory regulator
s.sch006 In section 98 (duty of regulators to ensure co-ordinated exercise... Regulated
Other duties (1) — Crown / regulator
  • FCA must coordinate with PRA on listed functionsStatutory regulator
s.sch007 Before section 103 (regulator’s general duty to consult) insert (under... Regulated
Other duties (1) — Crown / regulator
  • Payment Systems Regulator must consider specified matters before imposing generally applicable requirementsStatutory regulator
s.sch007 After section 104 insert— Requirements in connection with public consultations... Regulated
Other duties (1) — Crown / regulator
  • Payment Systems Regulator must disclose panel engagement in public consultationsStatutory regulator
s.sch008 After Part 8A of FSMA 2000 (short selling) insert— PART... Regulated
  • Comply with FCA rules and directions if designated under cash access regimeResponsible Person
s.sch008 In section 3D (duty of FCA and PRA to ensure... Regulated
Other duties (1) — Crown / regulator
  • FCA must consider consumer protection duty under Part 8B when coordinating with PRAStatutory regulator
s.sch008 In section 232A (ombudsman scheme operator’s duty to provide information... Regulated
Other duties (1) — Crown / regulator
  • Ombudsman scheme operator must provide information to FCA relating to Part 8B purposesStatutory regulator
s.sch009 After Part 5 of the Banking Act 2009 (payment systems)... Regulated
Other duties (1) — Crown / regulator
  • Bank of England must oversee wholesale cash distribution and publish policyStatutory regulator
s.sch010 Performance of functions relating to financial market infrastructure (opens in a new tab) Prosecution
  • Perform a function in breach of a Part‑18 prohibition orderAny Person

Unlimited fine

s.sch010 In Part 18 of FSMA 2000 (recognised investment exchanges, clearing... Prosecution
  • Perform a function in breach of a Part 18 prohibition orderAny Person

Unlimited fine

s.sch011 Central counterparties (opens in a new tab) Regulated
  • Act on Bank of England directions for your CCPAny Person
  • Comply with Bank of England directions to remove resolution barriersFinancial Services Firm
s.sch011 Stay on terminating membership Regulated
  • Do not terminate CCP membership during 48-hour resolution stayFinancial Services Firm
s.sch011 Restriction on remuneration Regulated
Other duties (1) — Crown / regulator
  • Bank of England may restrict discretionary payments to CCP employees and shareholders for up to 5 yearsStatutory regulator
s.sch011 International obligation notice: bridge central counterparty Regulated
Other duties (1) — Crown / regulator
  • Bank of England must comply with Treasury notice on bridge CCP international obligationsCrown / Minister / Government department
s.sch011 Private sector purchaser: report Regulated
Other duties (1) — Crown / regulator
  • Bank of England must report to Chancellor on CCP resolution share/property transfersCrown / Minister / Government department
s.sch011 Bridge central counterparty: report Regulated
Other duties (1) — Crown / regulator
  • Bank of England must report to Chancellor on bridge CCP activitiesCrown / Minister / Government department
s.sch011 Resolution instruments: report Regulated
Other duties (1) — Crown / regulator
  • Bank of England must report to Treasury on CCP resolution instrumentsCrown / Minister / Government department
s.sch011 Transfer of ownership: report Regulated
Other duties (1) — Crown / regulator
  • Bank of England must report to Chancellor on CCP share transfer instrumentsStatutory regulator
s.sch011 Removal of directors and senior managers and appointment of temporary manager: notice requirements Regulated
Other duties (1) — Crown / regulator
  • Bank must provide detailed notice when removing directors or appointing temporary managersStatutory regulator
s.sch011 Reports by skilled persons Regulated
  • Assist the skilled person appointed by the Bank to prepare a reportFinancial Services Firm
s.sch011 Temporary restriction on remuneration Regulated
Other duties (1) — Crown / regulator
  • Bank of England must publish policy on temporary remuneration restrictionsStatutory regulator
s.sch011 Offences etc Prosecution
  • Falsify, conceal or destroy documents, provide false info, or obstruct an FCA/PRA investigationDirector or Officer

Unlimited fine

s.sch011 Prosecution of offences under paragraph 132 Regulated
Other duties (1) — Crown / regulator
  • Bank must obtain consent and follow Treasury conditions when prosecuting paragraph 132 offencesStatutory regulator
s.sch011 Determination of sanctions Regulated
Other duties (1) — Crown / regulator
  • Bank of England must consider relevant factors when determining sanctionsStatutory regulator
s.sch011 Procedure: warning notice Regulated
Other duties (1) — Crown / regulator
  • Bank must give warning notice before imposing sanctionsStatutory regulator
s.sch011 Procedure: decision notice Regulated
Other duties (1) — Crown / regulator
  • Bank must give decision notice without delay when imposing sanctionsStatutory regulator
s.sch011 Publication Regulated
  • Do not publish a warning or decision notice you receive from the BankAny Person
s.sch011 Co-operation Regulated
Other duties (1) — Crown / regulator
  • Bank of England must co-operate with FCA and foreign regulators on sanctionsStatutory regulator
s.sch011 Resolution liaison panel Regulated
Other duties (1) — Crown / regulator
  • Treasury must establish a resolution liaison panel for CCPsCrown / Minister / Government department
s.sch011 Pre-resolution valuation Regulated
Other duties (1) — Crown / regulator
  • Bank of England must value a CCP before using stabilisation powersStatutory regulator
s.sch011 Replacement of Bank’s provisional valuation Regulated
Other duties (1) — Crown / regulator
  • Bank of England must appoint an independent valuer for a full CCP valuationCrown / Minister / Government department
s.sch011 Safeguards relating to directions under paragraph 2 Regulated
Other duties (1) — Crown / regulator
  • Bank must issue safeguard notice with every direction to a CCPStatutory regulator
s.sch011 Tear-up power Regulated
Other duties (1) — Crown / regulator
  • Bank of England must publish policy on 'commercially reasonable' tear-up paymentsCrown / Minister / Government department
s.sch011 Report on provisions in write-down instrument Regulated
Other duties (1) — Crown / regulator
  • Bank of England must report to Chancellor on write-down instrument provisionsStatutory regulator
s.sch011 Bridge central counterparties: reverse share transfer Regulated
Other duties (1) — Crown / regulator
  • Bank must not reverse share transfer without consent or ownership and after consultationCrown / Minister / Government department
s.sch011 Foreign property Regulated
  • Make foreign property transfers effective under foreign lawAny Person
s.sch011 Private sector purchaser: reverse property transfer Regulated
Other duties (1) — Crown / regulator
  • Bank must obtain written consent before reversing a property transfer from a private-sector buyerStatutory regulator
s.sch011 Bridge central counterparties: reverse property transfer Regulated
  • Bank of England must consult regulators and meet conditions before reverse property transfer from bridge CCPEmployer
s.sch011 Transfer of ownership: reverse property transfer Regulated
Other duties (1) — Crown / regulator
  • Bank must meet conditions and consult FCA/PRA before reverse property transfersStatutory regulator
s.sch011 Bridge central counterparty: supplemental reverse property transfer powers Regulated
Other duties (1) — Crown / regulator
  • Bank of England must consult regulators and satisfy conditions before reversing bridge CCP property transfersStatutory regulator
s.sch011 Instruments: notification of members and creditors Regulated
Other duties (1) — Crown / regulator
  • Bank must notify CCP members and creditors of stabilisation instrumentsStatutory regulator
s.sch011 Restriction of security interests Regulated
Other duties (1) — Crown / regulator
  • Bank of England may suspend security enforcement rights when resolving a CCPStatutory regulator
s.sch012 After Schedule 19 to FSMA 2000 (competition information), insert— SCHEDULE... Regulated
  • Provide information or assistance to the manager of a write-down orderResponsible Person
s.sch012 After section 217 (insurers in financial difficulties) insert— Insurers subject... Regulated
Other duties (1) — Crown / regulator
  • Compensation scheme must safeguard policyholders affected by write-down ordersStatutory regulator
s.sch014 Conditional sale and hire purchase agreements Regulated
  • Comply with conditions when offering conditional sale or hire purchase agreementsFinancial Services Firm
360 other schedules
s.002 Transitional amendments (opens in a new tab)
s.003 New Schedule 6B to FSMA 2000 (opens in a new tab)
s.007 Accountability of the Payment Systems Regulator (opens in a new tab)
s.008 Cash access services (opens in a new tab)
s.009 Wholesale cash distribution (opens in a new tab)
s.013 Insurers in financial difficulties: enforcement of contracts (opens in a new tab)
s.sch001 Revocation of assimilated law relating to financial services (opens in a new tab)
s.sch002 Introductory
s.sch002 For Article 21 substitute— Article 21 Investment firms (including systematic...
s.sch002 Systematic internalisers and other investment firms
s.sch002 Share trading obligation
s.sch002 In Article 1(2E), omit “Article 23,”.
s.sch002 Derivatives trading obligation
s.sch002 (1) Article 28 (obligation to trade on regulated markets, MTFs...
s.sch002 For Article 31 substitute— Article 31 Risk reduction services The FCA may by rules provide for one or more...
s.sch002 Consequential amendments relating to this Part
s.sch002 In Article 12(1) after “accordance with” insert “, or with...
s.sch002 In Article 13(1) after “accordance with” insert “, or with...
s.sch002 Omit Article 19.
s.sch002 In Article 26(3), omit “and Article 21(5)(a)”.
s.sch002 In Article 47(1A)(a), after “Regulation” insert “or in rules made...
s.sch002 In Article 50B (FCA directions), omit “Article 5, Article 9...
s.sch002 (1) Article 50C (other FCA directions) is amended as follows....
s.sch002 (1) Article 50D (FCA rules) is amended as follows.
s.sch002 Regulation (EU) No 648/2012 on OTC derivatives, central counterparties and...
s.sch002 After Article 6a insert— Article 6b Risk reduction services The Bank of England may by rules provide for the...
s.sch002 For Article 4 substitute— Article 4 Waivers for equity instruments...
s.sch002 After Article 84b insert— Article 84c Bank of England rules...
s.sch002 Introductory
s.sch002 STS equivalent non-UK securitisations
s.sch002 After Article 28 (third party verifying STS compliance) insert— CHAPTER...
s.sch002 Minor and consequential amendments
s.sch002 In Article 4 (requirements for securitisation special purpose entities)—
s.sch002 (1) Article 5 (due-diligence requirements for institutional investors) is amended...
s.sch002 (1) Article 46 (Treasury review) is amended as follows.
s.sch002 In Regulation (EU) No 575/2013 of the European Parliament and...
s.sch002 In Commission Delegated Regulation (EU) 2015/35 of 10 October 2014...
s.sch002 After Article 4 insert— Article 4a Suspension of waivers The FCA may direct that a waiver provided for by...
s.sch002 In Article 11(1) of Regulation (EU) 2017/1131 of the European...
s.sch002 The Securitisation Regulations 2018 (S.I. 2018/1288) are amended in accordance...
s.sch002 In regulation 2 (interpretation), in the definition of “SRUP”, in...
s.sch002 In regulation 4 (designation of competent authorities), in paragraph (1)(b),...
s.sch002 Introductory
s.sch002 Position limits for commodity derivatives
s.sch002 (1) Regulation 16 (FCA duty to establish position limits) is...
s.sch002 (1) Regulation 27 (FCA power to require information) is amended...
s.sch002 (1) Regulation 28 (FCA power to intervene) is amended as...
s.sch002 In regulation 29 (interpretation of Part 3), in paragraph (2)—...
s.sch002 Omit Article 5 (volume cap mechanism).
s.sch002 Consequential revocations relating to this Part
s.sch002 (1) Regulation 19B of the Central Counterparties (Amendment, etc., and...
s.sch002 The Electronic Money Regulations 2011 (S.I. 2011/99) are amended in...
s.sch002 In regulation 48 (monitoring and enforcement), after paragraph (1)(a) insert—...
s.sch002 In regulation 49 (reporting requirements), after paragraph (1) insert—
s.sch002 In regulation 50 (public censure), after “Regulations” insert “or, in...
s.sch002 In regulation 51 (financial penalties)— (a) omit “or” at the...
s.sch002 In regulation 52 (suspending authorisation etc), in paragraph (1) after...
s.sch002 In regulation 54 (injunctions)— (a) omit “or” at the end...
s.sch002 In regulation 55 (power to require restitution), in paragraph (1)...
s.sch002 (1) Article 14 (obligation for systematic internalisers to make public...
s.sch002 In regulation 57 (restitution orders), in paragraph (1) after “requirement,”...
s.sch002 In regulation 58 (complaints), in paragraph (1)—
s.sch002 In Schedule 3 (application and modification of legislation)—
s.sch002 The Payment Services Regulations 2017 (S.I. 2017/752) are amended in...
s.sch002 In regulation 108 (monitoring and enforcement), after paragraph (1)(a) insert—...
s.sch002 In regulation 109 (reporting requirements), after paragraph (1) insert—
s.sch002 In regulation 110 (public censure), after “Regulations” insert “or, in...
s.sch002 In regulation 113 (injunctions)— (a) omit “or” at the end...
s.sch002 In regulation 114 (power to require restitution), in paragraph (1)...
s.sch002 Transparency requirements for fixed income instruments and derivatives etc
s.sch002 In regulation 116 (restitution orders), in paragraph (1) after “requirement,”...
s.sch002 In regulation 117 (complaints), in paragraph (1)—
s.sch002 In Schedule 6 (application and modification of legislation)—
s.sch002 Systematic internalisers and other investment firms
s.sch002 In Article 17a (tick sizes), in the second paragraph, omit...
s.sch004 FMI Sandboxes (opens in a new tab)
s.sch004 Participation
s.sch004 Technology
s.sch004 Practices
s.sch004 Financial instruments
s.sch004 Settlement of payments
s.sch004 Requirements
s.sch004 Cooperation
s.sch004 Transparency and reporting
s.sch004 Enforcement
s.sch005 Financial promotion: related amendments (opens in a new tab)
s.sch005 FSMA 2000 is amended as follows.
s.sch005 (1) Section 55Y (exercise of own-initiative power: procedure) is amended...
s.sch005 (1) Section 55Z (cancellation of Part 4A permission: procedure) is...
s.sch005 In section 55Z3 (right to refer matters to the Tribunal),...
s.sch005 In section 1H (further interpretative provisions for sections 1B to...
s.sch005 In section 25 (contravention of section 21), in subsection (2)(a)...
s.sch005 In section 55A (application for permission), after subsection (5) insert—...
s.sch005 (1) Section 55O (imposition of requirements on acquisition of control)...
s.sch005 In section 55R (persons connected with an applicant), in subsection...
s.sch005 In section 55U (applications under Part 4A), after subsection (3)...
s.sch005 In section 55V (determination of applications), in subsection (5)—
s.sch005 (1) Section 55X (determination of applications: warning notices and decision...
s.sch006 Digital settlement assets (opens in a new tab)
s.sch006 The Banking Act 2009 is amended as follows.
s.sch006 In the heading to section 185 (recognition criteria) after “criteria”...
s.sch006 After section 185 insert— Recognition criteria: DSA service provider (1) The Treasury may make a recognition order in respect...
s.sch006 (1) Section 186 (procedure) is amended as follows.
s.sch006 (1) Section 186A (amendment of recognition order) is amended as...
s.sch006 (1) Section 187 (de-recognition) is amended as follows.
s.sch006 (1) Section 188 (principles) is amended as follows.
s.sch006 In section 189 (codes of practice)— (a) the words after...
s.sch006 In section 190 (system rules), in subsection (1)(a)—
s.sch006 After section 190 insert— Service provider rules (1) The Bank of England may require a recognised DSA...
s.sch006 (1) Section 191 (directions) is amended as follows.
s.sch006 In the heading to Part 5 (payment systems), after “systems”...
s.sch006 After section 192 (role of FCA and PRA), insert— Power...
s.sch006 (1) Section 193 (inspection) is amended as follows.
s.sch006 (1) Section 194 (inspection: warrant) is amended as follows.
s.sch006 (1) Section 195 (independent report) is amended as follows.
s.sch006 In section 196 (compliance failure)— (a) after first “system” insert...
s.sch006 In section 197 (publication), in subsection (1)—
s.sch006 In section 198 (penalty), in subsection (1)—
s.sch006 (1) Section 199 (closure) is amended as follows.
s.sch006 (1) Section 200 (management disqualification) is amended as follows.
s.sch006 (1) Section 201 (warning) is amended as follows.
s.sch006 In section 181 (overview), after “services” insert “, including”.
s.sch006 In section 202 (appeal), in subsection (2)—
s.sch006 (1) Section 202A (injunctions) is amended as follows.
s.sch006 In section 203 (fees), in subsection (1)—
s.sch006 (1) Section 204 (information) is amended as follows.
s.sch006 (1) Section 205 (pretending to be recognised) is amended as...
s.sch006 (1) Section 206 (saving for informal oversight) is amended as...
s.sch006 (1) Section 206A (services forming part of recognised payment systems)...
s.sch006 After section 206A insert— Service providers connected with a recognised...
s.sch006 In section 259 (statutory instruments), in the Table in subsection...
s.sch006 (1) Section 182 (interpretation of payment system) is amended as...
s.sch006 The Financial Services (Banking Reform) Act 2013 is amended as...
s.sch006 (1) Section 41 (meaning of payment system) is amended as...
s.sch006 (1) Section 42 (participants in payment systems) is amended as...
s.sch006 In section 110 (interpretation of Part), at the appropriate place...
s.sch006 In section 112 (interpretation: infrastructure companies), after subsection (2)(a) insert—...
s.sch006 In section 113 (interpretation: other expressions), in subsection (1) at...
s.sch006 (1) Section 115 (objective of FMI administration) is amended as...
s.sch006 In section 143 (Parliamentary control of orders and regulations), after...
s.sch006 (1) Section 183 (interpretation of other expressions) is amended as...
s.sch006 In the cross-heading before section 184 (recognition order), after “systems”...
s.sch006 In the heading to section 184 , after “order” insert...
s.sch006 In section 184, in subsection (4), after “constituting” insert “or...
s.sch006 After section 184 insert— Recognition order: DSA service provider (1) The Treasury may by order (“recognition order”) specify a...
s.sch007 The Financial Services (Banking Reform) Act 2013 is amended as...
s.sch007 In section 143 (orders and regulations: Parliamentary control), in subsection...
s.sch007 In Schedule 4 (the Payment Systems Regulator), after paragraph 7(2)(b)...
s.sch007 In Schedule 4, after paragraph 7 insert— Other reports (1) The Treasury may (subject to this paragraph) at any...
s.sch007 In Schedule 4, after paragraph 14 insert— Engagement with Parliamentary...
s.sch007 In section 39 (overview)— (a) after subsection (11) insert—
s.sch007 In section 53 (regulatory principles), in paragraph (c) at the...
s.sch007 After section 102 (power of PRA to require Regulator to...
s.sch007 In section 104 (consultation in relation to generally applicable requirements)—...
s.sch007 After section 107 insert— International trade obligations (1) This section applies where it appears to the Payment...
s.sch007 In section 110(1) (interpretation), at the appropriate place insert— “generally...
s.sch008 FSMA 2000 is amended as follows.
s.sch008 In section 55H (variation by FCA at request of authorised...
s.sch008 In section 55L (imposition of requirements by FCA), in subsection...
s.sch008 In section 55T (persons whose interests are protected), after “operational...
s.sch008 In section 395 (the FCA’s and PRA’s procedures), in subsection...
s.sch008 In section 429 (Parliamentary control of statutory instruments), in subsection...
s.sch009 Banking Act 2009
s.sch009 In section 259 (statutory instruments), in subsection (3), in the...
s.sch009 In section 261 (index of defined terms)—
s.sch009 Financial Services Act 2012
s.sch009 (1) Section 85 (relevant functions in relation to complaints scheme)...
s.sch009 (1) Section 110 (payment to Treasury of penalties received by...
s.sch009 Financial Services (Banking Reform) Act 2013
s.sch009 Part 6 of the Financial Services (Banking Reform) Act 2013...
s.sch009 In section 111 (financial market infrastructure administration), in the heading,...
s.sch009 (1) Section 112 (interpretation: infrastructure companies) is amended as follows....
s.sch009 In section 113 (interpretation: other expressions), in subsection (1)—
s.sch009 In section 115 (objective of FMI administration), after subsection (1A)...
s.sch009 In section 119 (continuity of supply), in subsection (6), in...
s.sch009 In section 120 (power to direct FMI administrator), in subsection...
s.sch009 In section 127 (interpretation of Part), in subsection (1), at...
s.sch010 Section 312FA is omitted.
s.sch010 In section 313 (interpretation of Part 18), in subsection (1)—...
s.sch010 (1) Section 347 (the record of authorised persons etc) is...
s.sch010 In section 391 (publication of notices), in subsection (1ZB), after...
s.sch010 (1) Section 392 (application of sections 393 and 394) is...
s.sch010 In section 395 (the FCA’s and PRA’s procedures), in subsection...
s.sch010 (1) Section 417(1) (interpretation) is amended as follows.
s.sch010 In section 429 (Parliamentary control of statutory instruments)
s.sch010 (1) Schedule 1ZA (the Financial Conduct Authority) is amended as...
s.sch010 In Schedule 2A (Gibraltar-based persons carrying on activities in the...
s.sch010 Amendments to FSMA 2000
s.sch010 (1) Schedule 17A (further provision in relation to exercise of...
s.sch010 Financial Services Act 2012
s.sch010 (1) Section 56 (prohibition orders) is amended as follows—
s.sch010 (1) Section 57 (prohibition orders: procedure and right to refer...
s.sch010 In section 59AB(1) (specifying functions as controlled functions: transitional provision),...
s.sch010 In section 133(7A) (proceedings before Tribunal: general provision), after paragraph...
s.sch010 In section 138A (modification or waiver of rules), in subsection...
s.sch010 (1) Section 168 (appointment of persons to carry out investigations...
s.sch010 In the heading of Chapter 3B of Part 18, at...
s.sch011 Overview
s.sch011 Right to refer matters to the Tribunal
s.sch011 Suspension: general provision
s.sch011 Pensions
s.sch011 Disputes
s.sch011 Tax
s.sch011 Stay or sist of legal proceedings
s.sch011 Insolvency proceedings
s.sch011 Recognition of transferee company
s.sch011 International obligation notice: general
s.sch011 Removal of directors and senior managers and appointment of temporary manager: procedure
s.sch011 Public funds: general
s.sch011 Public funds: bridge central counterparty
s.sch011 Sale to commercial purchaser, transfer to bridge central counterparty and transfer of ownership: conditions for group companies
s.sch011 Paragraph 117: supplemental
s.sch011 Information
s.sch011 Appointment of persons to carry out general investigations
s.sch011 Appointment of person to carry out investigations in particular cases
s.sch011 Investigations etc in support of foreign resolution authorities
s.sch011 Investigations: general
s.sch011 Powers of persons appointed under paragraph 121
s.sch011 Powers of persons appointed as a result of paragraph 122
s.sch011 Admissibility of statements made to investigators
s.sch011 Information and documents: supplemental provision
s.sch011 Protected items
s.sch011 Entry of premises under warrant
s.sch011 Retention of documents obtained under paragraph 130
s.sch011 Offences under paragraph 132 by bodies corporate etc
s.sch011 Injunctions to prevent failure to comply with relevant requirement
s.sch011 Regulatory sanctions
s.sch011 Restriction on remuneration: review and revocation
s.sch011 Procedure: general
s.sch011 Appeals
s.sch011 Injunctions: failure to comply with certain paragraph 136 sanctions
s.sch011 Third-country resolution actions
s.sch011 Effects of recognition on third-country resolution action
s.sch011 Third-country instruments: supplementary provision
s.sch011 Information
s.sch011 Restrictions on disclosure of confidential information
s.sch011 Special resolution objectives
s.sch011 Remedies on judicial review
s.sch011 Giving of notices, documents etc under this Schedule
s.sch011 “Financial assistance”
s.sch011 Modifications to the law
s.sch011 Interpretation
s.sch011 Recognised central counterparty
s.sch011 Interpretation: “CCP group company”, etc
s.sch011 Consolidated Fund
s.sch011 National Loans Fund
s.sch011 Bank of England Act 1998
s.sch011 Code of Practice
s.sch011 Financial Services and Markets Act 2000
s.sch011 Companies Act 2006
s.sch011 Banking Act 2009
s.sch011 Financial Services Act 2012
s.sch011 Financial Services (Banking Reform) Act 2013
s.sch011 Modified application of corporate law to CCPs in resolution
s.sch011 General conditions
s.sch011 Effect on other group members
s.sch011 Specific conditions: financial assistance cases
s.sch011 Removal of impediments to the exercise of stabilisation powers etc
s.sch011 Restrictions on use of certain resolution powers
s.sch011 Independent valuer: valuation under paragraph 22 or 23
s.sch011 Independent valuer: supplemental
s.sch011 Consequences of a replacement valuation
s.sch011 Private sector purchaser
s.sch011 Private sector purchaser: marketing
s.sch011 Bridge central counterparty
s.sch011 Transfer of ownership
s.sch011 Cash call power
s.sch011 Power to reduce variation margin payments
s.sch011 Write-down power
s.sch011 Powers in relation to securities
s.sch011 Priority between creditors
s.sch011 Power to take control
s.sch011 Shadow directors etc
s.sch011 Resolution plans
s.sch011 Interpretation: “securities”
s.sch011 Share transfer instrument
s.sch011 Effect
s.sch011 Continuity
s.sch011 Conversion and delisting
s.sch011 Directors and senior managers
s.sch011 Ancillary instruments: production, registration, etc
s.sch011 Incidental provision
s.sch011 Procedure: instruments
s.sch011 Supplemental instruments
s.sch011 Removal of directors and senior managers
s.sch011 Onward transfer
s.sch011 Reverse share transfer
s.sch011 Bridge central counterparties: share transfers
s.sch011 Property transfer instrument
s.sch011 Effect
s.sch011 Transferable property
s.sch011 Continuity
s.sch011 Directors and senior managers
s.sch011 Recognised central counterparty rules
s.sch011 Temporary manager
s.sch011 Recognised central counterparty membership
s.sch011 Licences
s.sch011 Incidental provision
s.sch011 Procedure
s.sch011 Property transfer instrument: delisting
s.sch011 Transfer of property subsequent to resolution instrument
s.sch011 Supplemental instruments
s.sch011 Onward transfer
s.sch011 Paragraphs 5 and 6: conditions
s.sch011 Transfer of ownership and private sector purchaser: property transfer
s.sch011 Bridge central counterparty: supplemental property transfer powers
s.sch011 Restriction of partial transfers
s.sch011 Power to protect certain interests
s.sch011 Creation of liabilities
s.sch011 Regulations for safeguarding certain financial arrangements: write-down instruments
s.sch011 Resolution instruments: effect and supplementary matters
s.sch011 Temporary manager: further provisions in relation to the appointment
s.sch011 Write-down instruments: supplementary
s.sch011 Resolution instruments: procedure
s.sch011 Supplemental resolution instruments
s.sch011 Directors and senior managers
s.sch011 Termination rights etc
s.sch011 Deferment
s.sch011 Recovery of expenses
s.sch011 Compensation scheme
s.sch011 General continuity obligation: property transfers
s.sch011 Temporary manager: instrument of appointment
s.sch011 Special continuity obligations: property transfers
s.sch011 Continuity obligations: onward property transfers
s.sch011 General continuity obligation: share transfers
s.sch011 Special continuity obligations: share transfers
s.sch011 Continuity obligations: onward share transfers
s.sch011 Continuity obligations: consideration and terms
s.sch011 Continuity obligations: termination
s.sch011 Suspension of obligations
s.sch011 Suspension of termination rights
s.sch012 Write-down orders (opens in a new tab)
s.sch012 (1) Part 24 of FSMA 2000 (insolvency) is amended as...
s.sch012 In section 429 (Parliamentary control of statutory instruments), in subsection...
s.sch012 In Schedule 1ZB (the PRA), in paragraph 33(2) (exemption from...
s.sch012 Financial Services and Markets Act 2000 (Disclosure of Confidential Information) Regulations 2001
s.sch012 After Schedule 19A to FSMA 2000 (the manager of a...
s.sch012 Part 15 of FSMA 2000 (the Financial Services Compensation Scheme)...
s.sch012 In section 219 (scheme manager’s power to require information), in...
s.sch012 After section 220 (scheme manager’s power to inspect information held...
s.sch012 FSMA 2000
s.sch012 (1) Section 348 (restrictions on disclosure of confidential information by...
s.sch013 (1) Part 24 of FSMA 2000 (insolvency) is amended as...
s.sch013 In section 429 of FSMA 2000 (Parliamentary control of statutory...
s.sch014 Credit unions (opens in a new tab)
s.sch014 Introductory
s.sch014 Minor and consequential amendments
s.sch014 In section 23A (power to make provision corresponding to provision...
s.sch014 In section 29 (orders and regulations), in subsection (2) for...
s.sch014 (1) Section 31 (interpretation, etc.) is amended as follows.
s.sch014 In Schedule 1 (matters to be provided for in rules...
s.sch014 Transitional provision
s.sch014 The amendment made by paragraph 13(4)(b) does not apply in...
s.sch014 Specified financial activities
s.sch014 After section 1 insert— Specified financial activities (1) The financial activities specified for the purposes of the...
s.sch014 In section 2 (supplementary and transitional provisions as to registration),...
s.sch014 Shares
s.sch014 Ancillary services
s.sch014 Loans
s.sch014 Insurance distribution activities

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