Financial Services Act 2012

[^key-8af488ef4c85e11137c1e4cf61823346]: S. 87(9A)(9B) inserted (1.10.2015) by Small Business, Enterprise and Employment Act 2015 (c. 26), ss. 20, 164(1); S.I. 2015/1689, reg. 2(a)

[^key-fef45a213412868831aa0b5be2d558a8]: S. 14(4) omitted (7.3.2016) by virtue of Financial Services (Banking Reform) Act 2013 (c. 33), s. 148(5), Sch. 3 para. 18; S.I. 2015/490, art. 2(1)(b) (with savings and transitional provisions in S.I. 2015/492 (as amended by S.I. 2015/1660))

[^key-1b4126add1252887058f3ad6267c70ec]: Words in s. 85(4)(b) omitted (7.3.2016) by virtue of Financial Services (Banking Reform) Act 2013 (c. 33), s. 148(5), Sch. 3 para. 19(2)(a); S.I. 2015/490, art. 2(1)(b) (with savings and transitional provisions in S.I. 2015/492 (as amended by S.I. 2015/1660))

[^key-58da8b4d0d7f09774bdc002894fc4336]: Word in s. 85(4)(c)(i) omitted (7.3.2016) by virtue of Financial Services (Banking Reform) Act 2013 (c. 33), s. 148(5), Sch. 3 para. 19(2)(b)(ii); S.I. 2015/490, art. 2(1)(b) (with savings and transitional provisions in S.I. 2015/492 (as amended by S.I. 2015/1660))

[^key-8938256d0ef8a4792a820a6867d5229a]: S. 85(5)(b) omitted (7.3.2016) by virtue of Financial Services (Banking Reform) Act 2013 (c. 33), s. 148(5), Sch. 3 para. 19(3)(a); S.I. 2015/490, art. 2(1)(b) (with savings and transitional provisions in S.I. 2015/492 (as amended by S.I. 2015/1660))

[^key-160058339a466b0fd2e55d4cca6c9b63]: Word in s. 85(5)(c)(i) omitted (7.3.2016) by virtue of Financial Services (Banking Reform) Act 2013 (c. 33), s. 148(5), Sch. 3 para. 19(3)(b)(ii); S.I. 2015/490, art. 2(1)(b) (with savings and transitional provisions in S.I. 2015/492 (as amended by S.I. 2015/1660))

[^key-3c521f412cebedd2ed3773c6ebbc5ffb]: S. 89(3)(c) substituted (3.7.2016) by The Financial Services and Markets Act 2000 (Market Abuse) Regulations 2016 (S.I. 2016/680), regs. 1, 15(2)

[^key-d662256ad06b91735bdefd2228cec2e4]: S. 90(9)(d) substituted (3.7.2016) by The Financial Services and Markets Act 2000 (Market Abuse) Regulations 2016 (S.I. 2016/680), regs. 1, 15(3)(a)

[^key-90f35bcb2dd793d842abf10e6ed0e14a]: S. 90(11) inserted (3.7.2016) by The Financial Services and Markets Act 2000 (Market Abuse) Regulations 2016 (S.I. 2016/680), regs. 1, 15(3)(b)

[^key-d03a8e48d18345d7e4c290bfa35ea89e]: S. 91(7) inserted (3.7.2016) by The Financial Services and Markets Act 2000 (Market Abuse) Regulations 2016 (S.I. 2016/680), regs. 1, 15(4)(c)

[^key-950e7173717f80b36f3ad165edbc59a3]: S. 91(3)(a) omitted (3.7.2016) by virtue of The Financial Services and Markets Act 2000 (Market Abuse) Regulations 2016 (S.I. 2016/680), regs. 1, 15(4)(a)(i)

[^key-44022fcac3c513e53703503adbbd6aca]: S. 91(3)(c) substituted (3.7.2016) by The Financial Services and Markets Act 2000 (Market Abuse) Regulations 2016 (S.I. 2016/680), regs. 1, 15(4)(a)(ii)

[^key-e6d1c8bde11637b0a02fa470daf68d65]: S. 91(4)(c) substituted (3.7.2016) by The Financial Services and Markets Act 2000 (Market Abuse) Regulations 2016 (S.I. 2016/680), regs. 1, 15(4)(b)

[^key-0c3455cb25c9786ae542e2fe72b0f634]: S. 93(8A)(8B) inserted (3.7.2016) by The Financial Services and Markets Act 2000 (Market Abuse) Regulations 2016 (S.I. 2016/680), regs. 1, 15(5)

[^key-86a8ab9b5bc65d54b543749bfb480e12]: S. 57A - S. 57B inserted (6.7.2016) by Bank of England and Financial Services Act 2016 (c. 14), ss. 36(2), 41(3); S.I. 2016/627, reg. 2(1)(aa)

[^key-49c2192e529f42e7f3d43ade065439a5]: S. 3(3) repealed (6.7.2016) by Bank of England and Financial Services Act 2016 (c. 14), s. 41(3), Sch. 2 para. 68 (with Sch. 3); S.I. 2016/627, reg. 2(2)(j)

[^key-fdaf1844c128d5a75b0f9f7013d53340]: S. 3(4)(a) repealed (6.7.2016) by Bank of England and Financial Services Act 2016 (c. 14), s. 41(3), Sch. 2 para. 68 (with Sch. 3); S.I. 2016/627, reg. 2(2)(j)

[^key-ff71b8cb163f3eff416f1295e2cb140a]: S. 3(4)(b)(i) repealed (6.7.2016) by Bank of England and Financial Services Act 2016 (c. 14), s. 41(3), Sch. 2 para. 68 (with Sch. 3); S.I. 2016/627, reg. 2(2)(j)

[^key-c76687d18c0ddfd25af574fd771cca94]: S. 3(4)(d) repealed (6.7.2016) by Bank of England and Financial Services Act 2016 (c. 14), s. 41(3), Sch. 2 para. 68 (with Sch. 3); S.I. 2016/627, reg. 2(2)(j)

[^key-d549c38d4397c6ca07dd10779f436eb3]: Words in s. 65 heading inserted (6.7.2016) by Bank of England and Financial Services Act 2016 (c. 14), ss. 36(3)(c), 41(3); S.I. 2016/627, reg. 2(1)(aa)

[^key-8b7dd996b2f7cfad6ca819d509d28b85]: Words in s. 65(1) inserted (6.7.2016) by Bank of England and Financial Services Act 2016 (c. 14), ss. 36(3)(a), 41(3); S.I. 2016/627, reg. 2(1)(aa)

[^key-e10eb8f48250f340507b29fca73e3c04]: Words in s. 65(2) inserted (6.7.2016) by Bank of England and Financial Services Act 2016 (c. 14), ss. 36(3)(b), 41(3); S.I. 2016/627, reg. 2(1)(aa)

[^key-f5c30d9467f45cee5e1f5ce6ff574b0e]: S. 67(6)-(9) inserted (6.7.2016) by Bank of England and Financial Services Act 2016 (c. 14), ss. 36(4), 41(3); S.I. 2016/627, reg. 2(1)(aa)

[^key-95bb03eca4b2250765a19571c5f9ac96]: Sch. 2 para. 1(13) repealed (6.7.2016) by Bank of England and Financial Services Act 2016 (c. 14), s. 41(3), Sch. 2 para. 68 (with Sch. 3); S.I. 2016/627, reg. 2(2)(j)

[^key-8e0df6f9181a1dc4a88980a9d2bae6c1]: Sch. 2 para. 2(7) repealed (6.7.2016) by Bank of England and Financial Services Act 2016 (c. 14), s. 41(3), Sch. 2 para. 68 (with Sch. 3); S.I. 2016/627, reg. 2(2)(j)

[^key-35a3347a7ea3a8b90c71ee8e546af838]: S. 117(2A) inserted (1.3.2017) by Bank of England and Financial Services Act 2016 (c. 14), s. 41(3), Sch. 2 para. 66(3) (with Sch. 3); S.I. 2017/43, reg. 2(g)

[^key-f579c1d9275566dcf983d86d79d42d81]: Words in s. 117(2) inserted (1.3.2017) by Bank of England and Financial Services Act 2016 (c. 14), s. 41(3), Sch. 2 para. 66(2) (with Sch. 3); S.I. 2017/43, reg. 2(g)

[^key-4c0f340c0f49108fc8b1330b00d0143d]: S. 2(3) repealed (1.3.2017) by Bank of England and Financial Services Act 2016 (c. 14), s. 41(3), Sch. 2 para. 68 (with Sch. 3); S.I. 2017/43, reg. 2(g)

[^key-61c3623ecf66f553ab77b41e99a530a5]: Word in s. 85(8) substituted (1.3.2017) by Bank of England and Financial Services Act 2016 (c. 14), s. 41(3), Sch. 2 para. 65 (with Sch. 3); S.I. 2017/43, reg. 2(g)

[^key-5a4dd2f722df33b8d884f018ecf43941]: Word in s. 110(5)(d) omitted (27.6.2017) by virtue of Digital Economy Act 2017 (c. 30), s. 118(2), Sch. 9 para. 34

[^key-c2fd8a2f2ccb147c85f08d7b6302fd40]: Word in s. 68(3)(b)(ii) omitted (27.6.2017) by virtue of Digital Economy Act 2017 (c. 30), s. 118(2), Sch. 9 para. 32(2)

[^key-4e46c279b1536e6dbcd2970898cbcbf3]: Word in s. 68(5) omitted (27.6.2017) by virtue of Digital Economy Act 2017 (c. 30), s. 118(2), Sch. 9 para. 32(3)(a)

[^key-4cb19ccee161e07b5532545952eae57f]: Word in s. 68(5) substituted (27.6.2017) by Digital Economy Act 2017 (c. 30), s. 118(2), Sch. 9 para. 32(3)(b)

[^key-0bea16b55b33e12bca5a0b24fdc9f75e]: Word in s. 85(3)(a) omitted (27.6.2017) by virtue of Digital Economy Act 2017 (c. 30), s. 118(2), Sch. 9 para. 33

[^key-5b8cf3d995405ffa495bc5b7ada61294]: Words in s. 110(5)(b) substituted (28.11.2017) by The Central Securities Depositories Regulations 2017 (S.I. 2017/1064), reg. 1, Sch. para. 17(5)(a) (with regs. 7(4), 9(1))

[^key-d7ed94224a4e478ec2918fa59866a608]: Words in s. 110(5)(b) inserted (28.11.2017) by The Central Securities Depositories Regulations 2017 (S.I. 2017/1064), reg. 1, Sch. para. 17(5)(b) (with regs. 7(4), 9(1))

[^key-fd0cd0e12f2845f6bb5ba33442a954b6]: Words in s. 68(3)(a) substituted (28.11.2017) by The Central Securities Depositories Regulations 2017 (S.I. 2017/1064), reg. 1, Sch. para. 17(2)(a) (with regs. 7(4), 9(1))

[^key-9a91e449e44f72a663ab3ab9d0366fcd]: Words in s. 68(3)(b)(i) inserted (28.11.2017) by The Central Securities Depositories Regulations 2017 (S.I. 2017/1064), reg. 1, Sch. para. 17(2)(b) (with regs. 7(4), 9(1))

[^key-3b324fb6341cccbddff83ee815d7c8e6]: Words in s. 83(1) inserted (28.11.2017) by The Central Securities Depositories Regulations 2017 (S.I. 2017/1064), reg. 1, Sch. para. 17(3) (with regs. 7(4), 9(1))

[^key-bb65ba2145e679a4966c530a88b82a53]: Words in s. 85(3)(a) inserted (28.11.2017) by The Central Securities Depositories Regulations 2017 (S.I. 2017/1064), reg. 1, Sch. para. 17(4) (with regs. 7(4), 9(1))

[^key-26c3d7d94c014464d04567f7409ac233]: Sch. 18 para. 74(2) repealed (E.W.S.) (6.4.2018) by Welfare Reform and Work Act 2016 (c. 7), ss. 20(11)(g), 36(6); S.I. 2018/438, reg. 2(1) (with reg. 2(2)(3))

[^key-218e88900f47f7d851f18107e6392cbc]: S. 85(4A) inserted (1.10.2018) by Financial Guidance and Claims Act 2018 (c. 10), s. 37(5), Sch. 3 para. 30(c); S.I. 2018/1029, reg. 2(q) (with Sch. para. 2)

[^key-b1f2bcfb46f3d5de48e279abb004287c]: Words in s. 85(2)(a) inserted (1.10.2018) by Financial Guidance and Claims Act 2018 (c. 10), s. 37(5), Sch. 3 para. 30(a); S.I. 2018/1029, reg. 2(q)

[^key-f73cafd1afd5af802933eed5c526ce15]: S. 85(4)(g)(h) inserted (26.10.2018) by The Financial Regulators Powers (Technical Standards etc.) (Amendment etc.) (EU Exit) Regulations 2018 (S.I. 2018/1115), regs. 1(2), 9(a)

[^key-39b8075684b13c807a3c6e8dfbd87935]: S. 85(5)(f)(g) inserted (26.10.2018) by The Financial Regulators Powers (Technical Standards etc.) (Amendment etc.) (EU Exit) Regulations 2018 (S.I. 2018/1115), regs. 1(2), 9(b)

[^key-c064ad7d4beddbeedd7be8683449069f]: Words in s. 85(4)(c)(i) substituted (1.1.2019) by Financial Guidance and Claims Act 2018 (c. 10), s. 37(5), Sch. 3 para. 30(b)(i); S.I. 2018/1330, reg. 2(g)(vi)

[^key-06ecab99bc09e65a6fb34040941d834e]: Words in s. 85(4)(e) omitted (1.1.2019) by virtue of Financial Guidance and Claims Act 2018 (c. 10), s. 37(5), Sch. 3 para. 30(b)(ii); S.I. 2018/1330, reg. 2(g)(vi)

[^key-e01516faddeaa4e198e8de1caa77b10b]: S. 85(4)(f) omitted (1.1.2019) by virtue of Financial Guidance and Claims Act 2018 (c. 10), s. 37(5), Sch. 3 para. 30(b)(iii); S.I. 2018/1330, reg. 2(g)(vi)

[^key-31abb6e5e7e06f279f9dc441a5b1c6a2]: Words in s. 85(4A) substituted (6.4.2019) by The Financial Guidance and Claims Act 2018 (Naming and Consequential Amendments) Regulations 2019 (S.I. 2019/383), reg. 1(1), Sch. para. 10

[^key-9deeab33fd761cc7d4c2d026508b6224]: S. 16(3)(b) omitted (21.7.2019) by virtue of The Financial Services and Markets Act 2000 (Prospectus) Regulations 2019 (S.I. 2019/1043), regs. 1(1), 36

[^key-163349669bef62881ea90c8aa377486c]: S. 16(6)(b) omitted (21.7.2019) by virtue of The Financial Services and Markets Act 2000 (Prospectus) Regulations 2019 (S.I. 2019/1043), regs. 1(1), 36

[^key-faef0eab17d1bf9b738a7121caa44c33]: S. 16(7)-(10) omitted (21.7.2019) by virtue of The Financial Services and Markets Act 2000 (Prospectus) Regulations 2019 (S.I. 2019/1043), regs. 1(1), 36

[^key-cc92294f7d9f71dd3962433c2c49f3ac]: Sch. 18 para. 132 repealed (31.12.2020) by Sanctions and Anti Money Laundering Act 2018 (c. 13), s. 64(2), Sch. 3 para. 9 (with ss. 52(3), 53, 58); S.I. 2020/1535, reg. 3(e)

[^key-dea3d297aa54628cbddb3661f1563996]: S. 57B(2)(b) substituted (31.12.2020) by The Bank of England (Amendment) (EU Exit) Regulations 2018 (S.I. 2018/1297), regs. 1(2), 8(2)(a); 2020 c. 1, Sch. 5 para. 1(1)

[^key-7f9fc1783264484b4e3cc0d2be512258]: Words in s. 57B(7) omitted (31.12.2020) by virtue of The Bank of England (Amendment) (EU Exit) Regulations 2018 (S.I. 2018/1297), regs. 1(2), 8(2)(b); 2020 c. 1, Sch. 5 para. 1(1)

[^key-37b94c81fff9aca67a02d9cf1af312bd]: Words in s. 66(1) omitted (31.12.2020) by virtue of The Bank of England (Amendment) (EU Exit) Regulations 2018 (S.I. 2018/1297), regs. 1(2), 8(3)(a); 2020 c. 1, Sch. 5 para. 1(1)

[^key-ab3b5320d7f9559442ec5c5a7062e2d5]: S. 66(2)(6) omitted (31.12.2020) by virtue of The Bank of England (Amendment) (EU Exit) Regulations 2018 (S.I. 2018/1297), regs. 1(2), 8(3)(b); 2020 c. 1, Sch. 5 para. 1(1)

[^key-37c8d4cb9decab7798f9c15800b63833]: Words in s. 66(7) omitted (31.12.2020) by virtue of The Bank of England (Amendment) (EU Exit) Regulations 2018 (S.I. 2018/1297), regs. 1(2), 8(3)(c); 2020 c. 1, Sch. 5 para. 1(1)

[^key-9b2b04a61a0344565fadf58230e18eab]: Words in s. 82(3)(a) substituted (31.12.2020) by The Deposit Guarantee Scheme and Miscellaneous Provisions (Amendment) (EU Exit) Regulations 2018 (S.I. 2018/1285), regs. 1(3), 4; 2020 c. 1, Sch. 5 para. 1(1)

[^key-a19e270638fa615a91c3b6ed4dc6ed23]: S. 103 omitted (31.12.2020) by virtue of The State Aid (Revocations and Amendments) (EU Exit) Regulations 2020 (S.I. 2020/1470), reg. 1(2), Sch. 2 para. 2 (with Sch. 3)

[^key-adb26b872d42ec6a48fa00652205f287]: S. 93(8B) substituted (31.12.2020) by The Bank of England (Amendment) (EU Exit) Regulations 2018 (S.I. 2018/1297), regs. 1(2), 8(5) (as amended by S.I. 2020/1301, regs. 1, 3, Sch. para. 7(a)); 2020 c. 1, Sch. 5 para. 1(1)

[^key-940148afcedacaeb3dc5dab780354cd3]: Sch. 15 omitted (6.4.2021) by virtue of Financial Guidance and Claims Act 2018 (c. 10), s. 37(5), Sch. 3 para. 29; S.I. 2021/433, reg. 2(b)(viii)

[^key-ffca68c66ae65fd082498cd130793a91]: S. 45 omitted (6.4.2021) by virtue of Financial Guidance and Claims Act 2018 (c. 10), s. 37(5), Sch. 3 para. 29; S.I. 2021/433, reg. 2(b)(viii)

[^key-379398bbad70ab9a2f18ea30eb5c72d5]: S. 107(6) modified (1.7.2021) by Financial Services Act 2021 (c. 22), ss. 37, 49(5); S.I. 2021/739, reg. 3(s)

[^key-f2f5809772f695aa0a807992722a1321]: Words in s. 92(1)(b) substituted (1.11.2021) by Financial Services Act 2021 (c. 22), ss. 31(2), 49(5) (with s. 31(3)(4)); S.I. 2021/1173, reg. 2

[^key-6623eb544b7763e06649b0d822ddcbd9]: Words in s. 92(2)(a) substituted (28.4.2022) by The Criminal Justice Act 2003 (Commencement No. 33) and Sentencing Act 2020 (Commencement No. 2) Regulations 2022 (S.I. 2022/500), regs. 1(2), 5(1), Sch. Pt. 1

[^key-c60e3d748d729d7af45c2a3b56517a8c]: Words in s. 92(2)(a) substituted (7.2.2023 at 12.00 p.m.) by The Judicial Review and Courts Act 2022 (Magistrates’ Court Sentencing Powers) Regulations 2023 (S.I. 2023/149), regs. 1(2), 2(1), Sch. Pt. 1

[^key-2c510947f6dea376699b422afbd9bad7]: S. 110(5)(aa) inserted (29.6.2023 for specified purposes) by Financial Services and Markets Act 2023 (c. 29), s. 86(1)(e), Sch. 10 para. 21(3)

[^key-cb1b133e5ac2c18be85a0b5d65932320]: Words in s. 110(2)(a) inserted (29.6.2023 for specified purposes) by Financial Services and Markets Act 2023 (c. 29), s. 86(1)(e), Sch. 10 para. 21(2)

[^key-a7f33732119f075f3975428f896b219a]: S. 84(1A) inserted (29.8.2023) by Financial Services and Markets Act 2023 (c. 29), ss. 76(2)(c), 86(3); S.I. 2023/779, reg. 4(xx)

[^key-b98fa8d02f7c2c0680ecc69128d51ef1]: Word in s. 84(1)(a) omitted (29.8.2023) by virtue of Financial Services and Markets Act 2023 (c. 29), ss. 76(2)(a), 86(3); S.I. 2023/779, reg. 4(xx)

[^key-6b6bc44dc34ecfc3bdc7e574fb1414ae]: S. 84(1)(b) omitted (29.8.2023) by virtue of Financial Services and Markets Act 2023 (c. 29), ss. 76(2)(b), 86(3); S.I. 2023/779, reg. 4(xx)

[^key-40dfc692a9275663c764f66f044f2b05]: S. 84(4) omitted (29.8.2023) by virtue of Financial Services and Markets Act 2023 (c. 29), ss. 76(2)(d), 86(3); S.I. 2023/779, reg. 4(xx)

[^key-747377a23dd234d1f671ab0f768852f2]: Word in s. 84(5) substituted (29.8.2023) by Financial Services and Markets Act 2023 (c. 29), ss. 76(2)(e), 86(3); S.I. 2023/779, reg. 4(xx)

[^key-cd6fbaf1363455645fb9a3a71df04186]: Words in s. 85(7) substituted (29.8.2023) by Financial Services and Markets Act 2023 (c. 29), s. 86(2)(d), Sch. 9 para. 14(3)(a)

[^key-876082dfda065e59c38533c7bd5686d0]: Words in s. 85(3)(a) inserted (29.8.2023) by Financial Services and Markets Act 2023 (c. 29), s. 86(2)(d), Sch. 9 para. 14(2)

[^key-95487c17eac9bec4d948c1e9fd250539]: Words in s. 85(7)(a) substituted (29.8.2023) by Financial Services and Markets Act 2023 (c. 29), s. 86(2)(d), Sch. 9 para. 14(3)(b)

[^key-7b3023ed8b0996643cf79379e10af71f]: Words in s. 85(7)(b) inserted (29.8.2023) by Financial Services and Markets Act 2023 (c. 29), s. 86(2)(d), Sch. 9 para. 14(3)(c)

[^key-ad80df234cd2a70855f8de6fc6beaaf2]: S. 87(9A)(ba) inserted (29.8.2023) by Financial Services and Markets Act 2023 (c. 29), ss. 76(3)(a), 86(3); S.I. 2023/779, reg. 4(xx)

[^key-662cb39096742c0737933bedab2a8420]: S. 87(9B)(f) inserted (29.8.2023) by Financial Services and Markets Act 2023 (c. 29), ss. 76(3)(b), 86(3); S.I. 2023/779, reg. 4(xx)

[^key-27ebc964970738bca1329490d434b699]: S. 87(9C) inserted (29.8.2023) by Financial Services and Markets Act 2023 (c. 29), ss. 76(3)(c), 86(3); S.I. 2023/779, reg. 4(xx)

[^key-bb98d102633534857e349ff2737577dd]: Word in s. 110(5)(c) omitted (29.8.2023) by virtue of Financial Services and Markets Act 2023 (c. 29), s. 86(2)(d), Sch. 9 para. 15(3)(a)

[^key-b5c24e466099f1fa645abf3566e2bd98]: S. 110(5)(e) and word inserted (29.8.2023) by Financial Services and Markets Act 2023 (c. 29), s. 86(2)(d), Sch. 9 para. 15(3)(b)

[^key-c81ea1a8a00c08adfc288db42d3cd473]: Words in s. 110(2)(b) substituted (29.8.2023) by Financial Services and Markets Act 2023 (c. 29), s. 86(2)(d), Sch. 9 para. 15(2)

[^key-b09de391e0d46ec1414a11e6985d92f0]: Words in s. 57A(2) inserted (31.12.2023) by Financial Services and Markets Act 2023 (c. 29), s. 86(3), Sch. 11 para. 163(2)(a); S.I. 2023/1382, reg. 8(b)

[^key-736af26e65d7ca567a3eecfa279a5a93]: Words in s. 57A(5) inserted (31.12.2023) by Financial Services and Markets Act 2023 (c. 29), s. 86(3), Sch. 11 para. 163(2)(b); S.I. 2023/1382, reg. 8(b)

[^key-6228eb5b08e96a51f1172a4af0812989]: Words in s. 57A(5)(b) inserted (31.12.2023) by Financial Services and Markets Act 2023 (c. 29), s. 86(3), Sch. 11 para. 163(2)(c); S.I. 2023/1382, reg. 8(b)

[^key-5f52d9cdb59e5180d393818d337550f6]: Words in s. 57A(7) inserted (31.12.2023) by Financial Services and Markets Act 2023 (c. 29), s. 86(3), Sch. 11 para. 163(2)(d); S.I. 2023/1382, reg. 8(b)

[^key-29847812561d7ebcb21575cac77cbf19]: Words in s. 58(4) inserted (31.12.2023) by Financial Services and Markets Act 2023 (c. 29), s. 86(3), Sch. 11 para. 163(3)(a); S.I. 2023/1382, reg. 8(b)

[^key-0329c08cb298de85e80655060958c1d9]: Words in s. 58(5) inserted (31.12.2023) by Financial Services and Markets Act 2023 (c. 29), s. 86(3), Sch. 11 para. 163(3)(b)(i); S.I. 2023/1382, reg. 8(b)

[^key-6bd1b5912fa9fbcd0176b66c606b63f4]: Words in s. 58(5) inserted (31.12.2023) by Financial Services and Markets Act 2023 (c. 29), s. 86(3), Sch. 11 para. 163(3)(b)(ii); S.I. 2023/1382, reg. 8(b)

[^key-f73047d56879c94d66da75849f7405b6]: Words in s. 60(5)(b) inserted (31.12.2023) by The Resolution of Central Counterparties (Modified Application of Corporate Law and Consequential Amendments) Regulations 2023 (S.I. 2023/1313), regs. 1(2), 14

[^key-ccc51e910eb239a187b2abc5090937d5]: Words in s. 61(2)(b) inserted (31.12.2023) by Financial Services and Markets Act 2023 (c. 29), s. 86(3), Sch. 11 para. 163(4)(a); S.I. 2023/1382, reg. 8(b)

[^key-a4e471a2eb227d7529025369250174be]: Words in s. 61(2)(b) substituted (31.12.2023) by Financial Services and Markets Act 2023 (c. 29), s. 86(3), Sch. 11 para. 163(4)(b); S.I. 2023/1382, reg. 8(b)

[^key-83914ab36c2b793082900b6a52f315d2]: S. 102 omitted (31.12.2023) by virtue of Financial Services and Markets Act 2023 (c. 29), s. 86(3), Sch. 11 para. 163(5); S.I. 2023/1382, reg. 8(b)

[^key-14d2e8635f8ac0ef582e2d5d27826165]: Words in s. 82(3)(a) substituted (1.1.2024) by The Retained EU Law (Revocation and Reform) Act 2023 (Consequential Amendment) Regulations 2023 (S.I. 2023/1424), reg. 1(2), Sch. para. 77(2)(a)

[^key-3a352a5479d3ba5c80ff4a115ffe3c8e]: Words in s. 93(8B)(a) substituted (1.1.2024) by The Retained EU Law (Revocation and Reform) Act 2023 (Consequential Amendment) Regulations 2023 (S.I. 2023/1424), reg. 1(2), Sch. para. 77(2)(b)

[^key-d230a1d1720631122f6a576401bd90b6]: S. 25 omitted (14.1.2025 for specified purposes) by virtue of The Short Selling Regulations 2025 (S.I. 2025/29), reg. 2(2)(3), Sch. 2 para. 3(2)

[^key-65b4f526cc3f208ffbe5dd378d00e816]: Word in s. 85(4)(c)(i) omitted (14.1.2025 for specified purposes) by virtue of The Short Selling Regulations 2025 (S.I. 2025/29), reg. 2(2)(3), Sch. 2 para. 3(3)

[^key-67887a517189506ed3c12e409dca250f]: S. 109(5)(i) omitted (14.1.2025 for specified purposes) by virtue of The Short Selling Regulations 2025 (S.I. 2025/29), reg. 2(2)(3), Sch. 2 para. 3(4)

Conduct of investigation

76A

• (1) Subsection (3) applies where it appears to the Payment Systems Regulator that—

• (a) events have occurred in relation to a regulated payment system which had or could have had a significant adverse effect on effective competition in the interests of—

• (i) participants in the payment system, or

• (ii) those who use, or are likely to use, the services provided by the payment system, and

• (b) those events might not have occurred, or the adverse effect might have been reduced, but for a serious failure in—

• (i) the system established by Part 5 of the Financial Services (Banking Reform) Act 2013 for the regulation of payment systems, or

• (ii) the operation of that system.

• (2) Subsection (3) also applies where the Treasury direct the Payment Systems Regulator that it appears to the Treasury that the conditions in subsection (1) are met in relation to specified events.

• (3) The Payment Systems Regulator must carry out an investigation into the events and the circumstances surrounding them and report to the Treasury on the result of the investigation.

• (4) Subsection (3) does not apply by virtue of subsection (1) if the Treasury direct the Payment Systems Regulator that it is not required to carry out an investigation into the events concerned.

• (5) In this section “participant”, in relation to a regulated payment system, has the same meaning as in Part 5 of the Financial Services (Banking Reform) Act 2013 (see section 42 of that Act).

Conclusion of investigation

Arrangements for the investigation of complaints

Power to make further provision about regulation of consumer credit

Groups

Private sector purchasers

Application to investment firms

Application to UK clearing houses

State aid

International obligations

Power to make further provision about regulation of consumer credit

Evidencing and transfer of title to securities without written instrument

Further minor and consequential amendments and repeals

Consultation in relation to, and publication of, complaints scheme

Objectives and conditions

Application to UK clearing houses

Further minor and consequential amendments and repeals

Groups

Application to investment firms

Application to UK clearing houses

State aid

Provision of services by Director of Savings

Orders: general

Evidencing and transfer of title to securities without written instrument

Further minor and consequential amendments and repeals

Interpretation of Part 3

Power to appoint person to hold an inquiry

Oversight Committee

Further amendments relating to Bank of England

The new Regulators

Extension of scope of regulation

Designation of activities requiring prudential regulation by PRA

Approval for particular arrangements

Further amendments relating to performance of regulated activities

Discontinuance or suspension at the request of the issuer: procedure

Rules and guidance

Penalties for breach of Part 6 rules

Control of business transfers

Rules and guidance

Functions relating to short selling

Recognition requirements: power of FCA and Bank to make rules

Repeal of special competition regime

The Financial Services Compensation Scheme

Auditors and actuaries

Mutual societies: power to transfer functions

Parliamentary control of statutory instruments

Further provision that may be included in orders under section 50

57A

• (1) The Treasury may by notice in writing require the Bank of England to provide it with information specified, or of a description specified, in the notice.

• (2) The information must be information which the Treasury consider is material to the Bank's assessment of the implications for public funds of a bank, building society, credit union , recognised central counterparty or investment firm failing.

• (3) The information must be provided before the end of such reasonable period as may be specified in the notice.

• (4) The Bank's duty to provide information under this section does not apply to information which the Bank does not have in its possession.

• (5) For the purposes of this section, the cases in which a bank, building society, credit union , recognised central counterparty or investment firm (“the institution”) is to be regarded as failing include those where—

• (a) the institution enters insolvency,

• (b) any of the stabilisation options in Part 1 of the Banking Act 2009 or in Schedule 11 to the Financial Services and Markets Act 2023 is achieved in relation to the institution, or

• (c) the institution falls to be taken for the purposes of the Financial Services Compensation Scheme (within the meaning given by section 213 of FSMA 2000) to be unable, or likely to be unable, to satisfy claims against the institution.

• (6) In subsection (5)(a) “insolvency” includes—

• (a) bankruptcy;

• (b) liquidation;

• (c) bank insolvency;

• (d) building society insolvency;

• (e) investment bank insolvency;

• (f) administration;

• (g) bank administration;

• (h) building society special administration;

• (i) receivership;

• (j) a composition between the institution and the institution's creditors;

• (k) a scheme of arrangement of the institution's affairs.

• (7) For the purposes of this section—

• “bank” has the meaning given by section 2 of the Banking Act 2009,

• “bank administration” has the same meaning as in that Act (see section 136 of that Act),

• “bank insolvency” has the same meaning as in that Act (see section 90 of that Act),

• “building society”, “building society insolvency” and “building society special administration” have the same meaning as in the Building Societies Act 1986 (see section 119 of that Act),

• “credit union” means a credit union as defined by section 31 of the Credit Unions Act 1979 or a credit union as defined by Article 2(2) of the Credit Unions (Northern Ireland) Order 1985,

• “investment bank insolvency” means any procedure established by regulations under section 233 of the Banking Act 2009,

• “investment firm” has the same meaning as in that Act (see section 258A of that Act),

• “public funds” means the Consolidated Fund and any other account or source of money which cannot be drawn or spent other than by, or with the authority of, the Treasury,

• “recognised central counterparty” has the meaning given by section 285 of FSMA 2000,

and an event has implications for public funds if it would or might involve or lead to a need for the application of public funds.

57B

• (1) This section applies in relation to—

• (a) a resolution plan which includes one or more options for the exercise of a stabilisation power by the Bank of England in relation to an institution (“the institution”), and

• (b) a group resolution plan which includes one or more options for the exercise of a stabilisation power by the Bank of England in relation to a group entity (“the entity”).

• (2) Unless otherwise directed under subsection (5), before adopting the plan the Bank must provide the Treasury with—

• (a) a copy of the plan,

• (b) the Bank's assessment of the risk that the failing of the institution or entity would pose to the stability of the financial system in the United Kingdom,

• (c) the Bank's assessment of the implications for public funds—

• (i) of the exercise by the Bank of a stabilisation power in relation to the institution or the entity in accordance with the option (or each of the options) for the exercise of such a power included in the plan, and

• (ii) if the plan includes one or more options for the use of an insolvency or administration procedure in relation to the institution or the entity, of the use of such a procedure in accordance with that option (or each of those options), and

• (d) any analysis considered by the Bank (whether or not prepared by the Bank) to be material in making the assessments mentioned in paragraph (c).

• (3) Unless otherwise directed under subsection (5), the Bank must provide the Treasury with details of—

• (a) any material changes to the plan, before those changes are adopted,

• (b) any material changes to the Bank's assessments of the matters mentioned in subsection (2)(b) or (c), and

• (c) any further analysis considered by the Bank (whether or not prepared by the Bank) to be material to revising the assessments mentioned in subsection (2)(c).

• (4) Where reasonably practicable the Bank must comply with subsections (2) and (3) before the Bank exercises any of its powers under section 3A of the Banking Act 2009 in relation to the institution or the entity.

• (5) The Treasury may by notice in writing—

• (a) direct the Bank not to provide it under this section with information in relation to institutions or entities specified, or of a description specified, in the notice;

• (b) revoke a direction given under paragraph (a).

• (6) Where a direction given under subsection (5)(a) is revoked—

• (a) the Bank must provide the Treasury with the matters listed in subsection (2)(a) to (d) in relation to the institutions or entities to which the direction related as soon as reasonably practicable after the date of the revocation, and

• (b) subsection (3) applies in relation to those institutions or entities,

but this is subject to any further direction under subsection (5)(a).

• (7) For the purposes of this section—

• “failing” has the same meaning as in section 57A,

• “insolvency or administration procedure” means—bank insolvency,building society insolvency,investment bank insolvency,bank administration, orbuilding society special administration,(and those terms have the same meaning as in section 57A);

• “public funds” has the same meaning as in section 57A,

• ...

and action has implications for public funds if it would or might involve or lead to a need for the application of public funds.

Interpretation of section 74

Publication of directions

Relevant functions in relation to complaints scheme

Misleading impressions

Objectives and conditions

Application to investment firms

Inter-bank payment systems

Amendments relating to new regulators

Suspension of licences under Part 3 of Consumer Credit Act 1974

Discontinuance or suspension at the request of the issuer: procedure

Listing rules: disciplinary powers in relation to sponsors

Primary information providers

Repeal of competition scrutiny power

Functions relating to short selling

Powers of regulators in relation to parent undertakings

Exemption for recognised investment exchanges and clearing houses

Powers in relation to recognised investment exchanges and clearing houses

Power to take disciplinary measures against recognised bodies

Discipline and enforcement

The financial ombudsman service

Information, investigations, disclosure etc.

Insolvency

Parliamentary control of statutory instruments

Duty of PRA to investigate and report on possible regulatory failure

Conduct of investigation

Statements of policy

Arrangements for the investigation of complaints

Misleading statements

Objectives and conditions

Private sector purchasers

Property transfer instruments: property held on trust

Groups

Application to investment firms

Inter-bank payment systems

Amendments relating to new regulators

Suspension of licences under Part 3 of Consumer Credit Act 1974

Provision of services by Director of Savings

Orders: general

Evidencing and transfer of title to securities without written instrument