UK Statutory Instrument
2017
United Kingdom
The Financial Services and Markets Act 2000 (Markets in Financial Instruments) Regulations 2017
At a glance
Who this Act binds
Business-side actors with duties under this Act, ranked by how often they appear.
- Any Person 2
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 2338 other Acts (top 5 shown)
- Human Medicines Regulations 2012 2012 169 duties
- Merchant Shipping Act 1995 1995 144 duties
- Insolvency (England and Wales) Rules 2016 2016 101 duties
- Road Traffic Act 1988 1988 95 duties
- Air Navigation Order 2016 2016 95 duties
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.
Schedules
Browse 131 other Schedules — structural / supplementary
Public censure
Financial penalties
Warning notice
Decision notice
Statements of policy
Statements of policy: procedure
Misleading the FCA or PRA
Restriction on penalties
Application of Part 9 of the Act (hearings and appeals)
Application of Part 11 of the Act (information gathering and investigations)
Assimilated law
Restrictions on disclosure of information
Application of Part 25 of the Act (injunctions and restitution)
Application of Part 26 of the Act (notices)
Application of Part 27 of the Act (offences)
Application of section 413 of the Act (protected items)
FCA: penalties, fees and exemption from liability in damages
PRA: penalties, fees and exemption from liability in damages
Service of notices
Disclosure of confidential information
Communications by auditors
Functions of the FCA
Functions of the PRA
Monitoring and enforcement
Co-operation
Guidance
Reporting requirements
Interpretation of Part 3
The Act is amended as follows.
(1) Section 122I (power to suspend trading in financial instruments)...
After section 122I insert— Power to suspend auctioning of auctioned...
In section 123(1)(c)(i) (power to impose penalties or issue censure)...
(1) Section 123A (power to prohibit individuals from managing or...
In section 123B(1)(c) (suspending permission to carry on regulated activities...
In section 124(10) (statement of policy) in paragraph (c)(i) of...
(1) Section 129 (power of the court to impose administrative...
In section 131AB (interpretation)— (a) in the definition of “financial...
Amendments to Part 9A (rules and guidance)
Amendments to Part 12 (control over authorised persons)
Amendments to Part 3 (authorisation and exemption)
Amendments to Part 13 (incoming firms: intervention by FCA or PRA)
(1) Section 195A (contravention by relevant EEA firm etc of...
Amendments to Part 14 (disciplinary measures)
Amendments to Part 15 (the financial services compensation scheme)
In section 214(1) (general)— (a) in paragraph (a)—
(1) Section 215 (rights of the scheme in insolvency) is...
(1) Section 218A (regulators power to require information) is amended...
(1) Section 220 (scheme manager's power to inspect information held...
(1) Section 224 (scheme manager's power to inspect documents held...
Amendments to Part 18 (recognised investment exchanges and clearing houses)
(1) Section 39A (certain tied agents operating outside the United...
After section 287 (application by an investment exchange) insert— Application...
In section 290(1A) (recognition orders)— (a) for “Community” substitute “...
In section 292(3) (overseas investment exchanges and overseas clearing houses),...
In section 301E(4)(a) (disregarded holdings) for “4.1(8)” substitute “ 4.1.7...
(1) Section 312A (exercise of passport rights by EEA market...
(1) Section 312B (removal of passport rights from EEA market...
(1) Section 312C (exercise of passport rights by recognised investment...
In section 312D (interpretation of Chapter 3A of Part 18)—...
In section 313(1) (interpretation of Part 18)—
Amendments to Part 18A (suspension and removal of financial instruments from trading)
Amendments to Part 4A (permission to carry on regulated activities)
Omit section 313C (notification in relation to suspension or removal...
After section 313C insert— Suspension or removal of financial instruments...
(1) Section 313D (interpretation of Part 18A) is amended as...
Amendments to Part 20 (provision of financial services by members of the professions)
Amendments to Part 23 (public record, disclosure of information and co-operation)
Amendments to Part 26 (notices)
After section 391C (publication: special provisions relating to the UCITs...
After section 395(13)(bbza) (the FCA's and PRA's procedures) insert—
Amendments to Part 27 (offences)
Amendments to Part 28 (miscellaneous)
(1) Section 55R (persons connected with an applicant) is amended...
Omit sections 412A (approval and monitoring of trade-matching and reporting...
Amendments to Part 29 (interpretation)
In section 422A(4)(a) (disregarded holdings) for “4.1(8)” substitute “ 4.1.7...
In section 424A(5)(b) (investment firm) for “4.1.20” substitute “ 4.1.55...
Amendments to Schedule 3 (EEA passport rights)
Amendments to Schedule 10A (liability of issuers)
Amendments to Part 6 (official listing)
(1) Section 102A (meaning of “securities” etc) is amended as...
In section 103(1) (interpretation of Part 6) in the definition...
Amendments to Part 8 (provisions relating to market abuse)
The Financial Services and Markets Act 2000 (Recognition Requirements for Investment Exchanges and Clearing Houses) Regulations 2001
Financial Services and Markets Act 2000 (Regulated Activities) Order 2001
Financial Services and Markets Act 2000 (Appointed Representatives) Regulations 2001
Financial Services and Markets Act 2000 (Disclosure of Confidential Information) Regulations 2001
Financial Services and Markets Act 2000 (EEA Passport Rights) Regulations 2001
Financial Services and Markets Act 2000 (Qualifying EU Provisions) Order 2013
Financial Services and Markets Act 2000 (Over the Counter Derivatives, Central Counterparties and Trade Repositories) Regulations 2013
Financial Services and Markets Act 2000 (PRA-Regulated Activities) Order 2013
Financial Services and Markets Act 2000 (Ring-Fenced Bodies and Core Activities) Order 2014
Building Societies Act 1986
Income Tax Act 2007
Counter-Terrorism Act 2008
Corporation Tax Act 2010
Finance Act 2010
Finance Act 2011
Financial Services (Banking Reform) Act 2013
Finance Act 1991
Friendly Societies Act 1992
Data Protection Act 1998
Competition Act 1998
Terrorism Act 2000
Proceeds of Crime Act 2002
Income Tax (Trading and Other Income) Act 2005
Companies Act 2006
Income Tax (Manufactured Overseas Dividends) Regulations 1993
Banking Act 2009 (Restriction of Partial Property Transfers) Order 2009
Offshore Funds (Tax) Regulations 2009
Occupational and Personal Pension Schemes (Automatic Enrolment) Regulations 2010
Electronic Money Regulations 2011
Recognised Auction Platforms Regulations 2011
Investment Trust (Approved Company) (Tax) Regulations 2011
Supervision of Accounts and Reports (Prescribed Body) and Companies (Defective Accounts and Directors' Reports) (Authorised Person) Order 2012
Unauthorised Unit Trusts (Tax) Regulations 2013
Capital Requirements Regulations 2013
Stamp Duty and Stamp Duty Reserve Tax (Exchange Traded Funds) (Exemption) Regulations 2014
Financial Markets and Insolvency (Settlement Finality) Regulations 1999
Financial Services Act 2012 (Relevant Functions in Relation to Complaints Scheme) Order 2014
Public Interest Disclosure (Prescribed Persons) Order 2014
Reports on Payments to Governments Regulations 2014
Public Contracts Regulations 2015
Uncertificated Securities Regulations 2001
Insurers (Reorganisation and Winding Up) Regulations 2004
Credit Institutions (Reorganisation and Winding Up) Regulations 2004
Occupational Pension Schemes (Investment) Regulations 2005
Authorised Investment Funds (Tax) Regulations 2006
Financial Services and Markets Act 2000 (Markets in Financial Instruments) Regulations 2007
Payment Services Regulations 2009
Algorithmic trading
- Implement systems and risk controls for algorithmic trading Any Person
Direct electronic access
- Implement systems, controls and agreements for direct electronic access clients Any Person
Browse 55 other sections — procedural / definitional / commencement
Citation and commencement
Interpretation
References to EU Regulations etc
High message intraday rate
Designation of competent authorities
Applications to be an exempt investment firm
Limitation on exempt investment firms
Requirements applying to exempt investment firms
Transitional provision: exempt investment firms
Meaning of “exempt investment firm” in Chapter 1
Third country firms with an EEA branch: provision of services
FCA power to intervene in relation to third country firms with an EEA branch
Third country firms registered with the FCA: provision of services
FCA power to intervene in relation to third country firms registered with the FCA
Third country firms: provision of services to eligible counterparties or clients considered to be professionals
Third country firms: financial promotions
Interpretation of Chapter 2
FCA rules relating to position limits
FCA duty to establish position limits
Exemption for non-financial entities
Content of position limits
FCA duty to use Regulation (EU) 2017/591 to establish position limits and to review if market changes
ESMA opinions on position limits
Position limits affecting multiple EEA jurisdictions
Cooperation with other competent authorities regarding position limits affecting multiple EEA jurisdictions
General requirements for position limits
FCA duty to notify ESMA of established position limits and position management controls
Procedure in exceptional cases
Effect of position limits established by the FCA ...
FCA power to require information
FCA power to intervene
Cooperation with ESMA and other competent authorities in respect of interventions to restrict, reduce, or limit positions
Interpretation of Part 3
Provision of information to the FCA concerning algorithmic trading
Provision of information to the FCA concerning direct electronic access
Acting as a general clearing member
Synchronisation of business clocks
FCA power to impose requirements
Interpretation of Part 4
FCA and PRA power to remove a person from a management board
Right to refer matters to the Tribunal
Removal of persons from management boards: procedure
Provision of FCA record of recognised investment exchanges to ESMA and other competent authorities
Provision of information to ESMA about multilateral trading facilities etc
Provision to ESMA of reports by recognised investment exchanges of infringements of the exchange's rules, disorderly trading, suspected market abuse, and systems disruptions
Authorisation of members of management bodies to hold additional non-executive directorship
Provision of information to ESMA regarding sanctions and measures imposed for the purposes of the markets in financial instruments directive
Provision of information to other competent authorities regarding persons engaged in algorithmic trading or providing direct electronic access
Reports and applications
Position management and publication of position reports
Statements of Policy
Refund of fees by the Gambling Commission
Administration and enforcement of the Regulations
Amendments to legislation
Review
Official guidance
Authoritative sources published by regulators or government explaining this legislation.
- Trading venues and systematic internalisers – changes in security statuses | FCA (opens in a new tab) from FCA Detailed Guidance
- Regulation of markets in financial instruments | FCA (opens in a new tab) from FCA Detailed Guidance
- External audit requirements for MiFID investment firms | FCA (opens in a new tab) from FCA Detailed Guidance
Enforcement and responsible bodies
The regulators that administer or enforce this legislation.
FCA
PrimaryFinancial Conduct Authority
Regulation of financial services firms and markets. Supervises banks, insurers, investment firms, payment services, and cryptoasset businesses. Issues authorisations and enforces conduct …
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. …
Connected legislation
parent Act
These instruments amend, apply, or refer to this Act. They may not all create direct business obligations.
Made under
Financial Services and Markets Act 2000 2000 Primary Act
Explore more
Browse legislation
Find other UK business legislation with related guidance.
Regulators
Learn more about the bodies that enforce this legislation.