The Insurance Distribution (Regulated Activities and Miscellaneous Amendments) Order 2018

Made: 30th April 2018

Laid before Parliament: 1st May 2018

Coming into force in accordance with article 1(2)

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PART 1 — General

Citation, commencement and interpretation

1

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PART 2 — Amendments to the principal Order

Amendments to the principal Order

2

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Specified activities: general

3

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Activities: arranging deals in investments – exclusions

4

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5

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Activities carried on by a provider of relevant goods or services – exclusions

6

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Unauthorised persons carrying on insurance distribution activities

7

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Relevant text of the insurance distribution directive

8

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PART 3 — Amendments to the Act

Amendments to the Act

9

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Applications under Part 4A

10

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Financial promotion rules

11

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Incoming firms: appropriate regulator primarily responsible for securing compliance

12

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Division of competence between home and host state regulators

13

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Agreements between regulators to exercise enhanced supervision

14

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Information under the Insurance Distribution Directive

15

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Publication

16

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EEA Passport Rights

17

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Miscellaneous

18

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PART 4 — Amendments to instruments made under the Act

Amendment to the Financial Services and Markets Act 2000 (Carrying on Regulated Activities by Way of Business) Order 2001

19

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Amendment to the Financial Services and Markets Act 2000 (Compensation Scheme: Electing Participants) Regulations 2001

20

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Amendment to the Financial Services and Markets Act 2000 (Disclosure of Confidential Information) Regulations 2001

21

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Amendment to the Financial Services and Markets Act 2000 (EEA Passport Rights) Regulations 2001

22

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Amendment to the Financial Services and Markets Act 2000 (Gibraltar) Order 2001

23

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Amendment to the Financial Services and Markets Act 2000 (Qualifying EU Provisions) Order 2013

24

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PART 5 — Amendments to other Acts

Amendments to the Terrorism Act 2000

25

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Amendments to the Proceeds of Crime Act 2002

26

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PART 6 — Miscellaneous

Review

27

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Signed

Andrew Stephenson — Rebecca Harris — Two Lords Commissioners of Her Majesty’s Treasury — 30th April 2018

Explanatory note

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Footnotes

[^f00001]: S.I. 2012/1759.

[^f00002]: 1972 c. 68. Section 2(2) was amended by section 27(1)(a) of the Legislative and Regulatory Reform Act 2006 (c. 51) and the European Union (Amendment) Act 2008 (c.7), Schedule Part 1.

[^f00003]: 2000 c.8. Sections 1A and 1L were inserted by section 6 of the Financial Services Act 2012 (c.21) (‘the FS Act 2012’). Section 39(4) was substituted by paragraph 5 of Schedule 18 to the FS Act 2012. Section 66A was inserted by section 32 of the Financial Services (Banking Reform) Act 2013 (c.33). Section 168(4)(k) was substituted by paragraph 8 of Schedule 12 to the FS Act 2012. Section 204A was inserted by paragraph 10 of Schedule 9 to the FS Act 2012. Section 380(6)(a) was amended by paragraph 19 of Schedule 9 to the FS Act 2012. Section 382(9)(a) was amended by paragraph 21 of Schedule 19 to the FS Act 2012 and by S.I. 2013/1773. Section 384(7) was amended by S.I. 2007/126 and paragraph 23 of Schedule 9 to the FS Act 2012. Section 409(1) was amended by S.I. 2011/1613. Schedule 1ZA was inserted by Schedule 3 to the FS Act 2012. Paragraph 25 of Schedule 2 was amended by section 8 of the FS Act 2012.

[^f00004]: S.I. 2001/544.

[^f00005]: Paragraph (4A) was inserted by S.I. 2003/1476 and amended by S.I. 2014/1292.

[^f00006]: Paragraph (5) was amended by S.I. 2003/1476 and S.I. 2006/3384.

[^f00007]: Paragraph (d) was inserted by S.I. 2003/1476.

[^f00008]: Article 33A was inserted by S.I. 2003/1475.

[^f00009]: Article 72B was inserted by S.I. 2003/1476. Paragraph (1) was amended by S.I. 2007/3510, S.I. 2011/1265 and S.I. 2013/1881.

[^f00010]: Part 5 was inserted by S.I. 2003/1476 and amended by S.I. 2013/472.

[^f00011]: Schedule 4 was inserted by S.I. 2003/1476.

[^f00012]: Part 4A (sections 55A to 55Z4) was inserted by section 11 of the Financial Services Act 2012.

[^f00013]: Subsection (2)(a) was amended by S.I. 2017/701.

[^f00014]: Subsection (8) was inserted by S.I. 2013/1773 and amended by S.I. 2013/1797.

[^f00015]: Section 137R was inserted by section 24 of the Financial Services Act 2012.

[^f00016]: Subsection (5) was amended by S.I. 2015/910.

[^f00017]: Sub-paragraph (iv) was inserted by S.I. 2015/910.

[^f00018]: Section 194C was inserted by S.I. 2015/910.

[^f00019]: Section 195B was inserted by S.I. 2015/910.

[^f00020]: O.J. 15.12.2010 L 331/48.

[^f00021]: The heading to Part 13 was amended by paragraph 30 of Schedule 4 to the Financial Services Act 2012.

[^f00022]: Section 354G was inserted by S.I. 2016/1095.

[^f00023]: Section 391D was inserted by S.I. 2017/701.

[^f00024]: Paragraph 1(e) was inserted by S.I. 2003/1473.

[^f00025]: Paragraph 4A was inserted by S.I. 2003/1473.

[^f00026]: O.J. 2.2.2016 L 26/19.

[^f00027]: O.J. 19.3.2018 L 76/28.

[^f00028]: Sub-paragraph (e) was inserted by S.I. 2003/1473.

[^f00029]: Paragraph 6 was substituted by S.I. 2003/1473 and amended by S.I. 2012/1906.

[^f00030]: Paragraph 7A was inserted by S.I. 2003/1473. There are amendments but none are relevant.

[^f00031]: Paragraph 10A was inserted by S.I. 2003/1473. There are amendments but none are relevant.

[^f00032]: Sub-paragraph (1) was amended by S.I. 2003/1473, S.I. 2003/2066, S.I. 2013/1773, and S.I. 2015/910.

[^f00033]: Sub-paragraph (1A) was inserted by S.I. 2013/1472.

[^f00034]: Sub-paragraph (2)(b) was amended by S.I. 2007/126 and S.I 2015/910.

[^f00035]: Sub-paragraph (3B) was inserted by S.I. 2015/910.

[^f00036]: Sub-paragraph (1)(d) was inserted by S.I. 2003/1473 and amended by S.I. 2015/910 and paragraph 3 of Schedule 4 to the Financial Services Act 2012.

[^f00037]: Sub-paragraph (5) was substituted by S.I. 2003/1472 and amended by S.I. 2015/910.

[^f00038]: Sub-paragraph (5A) was inserted by S.I. 2003/1473.

[^f00039]: Sub-paragraph (7A) was inserted by S.I. 2003/1473 and amended by paragraph 10 of Schedule 4 to the Financial Services Act 2012.

[^f00040]: Sub-paragraph (9) was amended by S.I. 2015/575.

[^f00041]: Sub-paragraph (12A) was inserted by S.I. 2003/2066 and amended by paragraph 10 of Schedule 4 to the Financial Services Act 2012.

[^f00042]: Sub-paragraph (3B) was inserted by S.I. 2003/1473 and amended by paragraph 11 of Schedule 4 to the Financial Services Act 2012.

[^f00043]: Sub-paragraph (4I) was inserted by S.I. 2015/575.

[^f00044]: Paragraph 25 was inserted by S.I. 2003/1473 and amended by paragraph 18 of Schedule 4 to the Financial Services Act 2012 and S.I. 2015/910.

[^f00045]: Subsection (6) was substituted by S.I. 2003/1473 and amended by S.I. 2011/1053, paragraph 2 of Schedule 16 to the Financial Services Act 2012 and S.I. 2013/1883.

[^f00046]: The definition of “EBA” was inserted by S.I. 2012/916.

[^f00047]: Subsection (1)(a) was amended by S.I. 2003/2066, S.I. 2004/3379, S.I. 2006/2975, S.I. 2007/126, S.I. 2007/3253, S.I. 2012/1906, S.I. 2013/1773, S.I. 2013/3115, S.I. 2015/575 and S.I. 2015/910.

[^f00048]: Paragraph 2B was inserted by S.I. 2013/555.

[^f00049]: S.I. 2001/1177.

[^f00050]: Paragraphs (4) and (5) were inserted by S.I. 2003/1476.

[^f00051]: S.I. 2001/1783.

[^f00052]: The definition of “insurance intermediary” was inserted by S.I. 2003/1476.

[^f00053]: S.I. 2001/2188

[^f00054]: The definition of “single market restrictions” was inserted by S.I. 2012/916 and amended by S.I. 2013/504, S.I. 2013/1773, S.I. 2013/3115, S.I. 2014/3348, S.I. 2015/575, S.I. 2015/910, S.I. 2016/225, S.I. 2016/680 and S.I. 2016/715.

[^f00055]: S.I. 2001/2511.

[^f00056]: Paragraph (8) was inserted by S.I. 2015/910.

[^f00057]: Paragraph (4) was inserted by S.I. 2013/1473.

[^f00058]: Regulation 7B was inserted by S.I. 2015/910.

[^f00059]: Regulation 17B was inserted by S.I. 2015/910.

[^f00060]: Regulation 18(1) was amended by S.I. 2006/3385.

[^f00061]: S.I. 2001/3084.

[^f00062]: Article 2(3A) was inserted by S.I. 2005/1.

[^f00063]: S.I. 2013/419, amended by S.I. 2013/1773, S.I. 2014/2879 and 3348, S.I. 2015/1882. S.I. 2016/680, 715 and 936, S.I. 2017/1127 and S.I. 2018/135.

[^f00064]: 2000 c.11. Schedule 3A was inserted by paragraph 5 of Schedule 2 to the Anti-terrorism, Crime and Security Act 2001 (c. 24) and substituted by S.I. 2007/3288.

[^f00065]: The definition of “Emission Allowance Auctioning Regulation” was inserted by S.I. 2011/2701.

[^f00066]: 2002 c.29. Schedule 9 was substituted by S.I. 2007/3288.

[^f00067]: The definition of “Emission Allowance Auctioning Regulation” was inserted by S.I. 2011/2701.

Editorial notes