Textual Amendments
F1Pt. 20A inserted (3.3.2015) by Pension Schemes Act 2015 (c. 8), s. 89(1)(a), Sch. 3 para. 2 (with s. 87, Sch. 3 para. 18(1))
(1)The FCA must discharge its general pensions guidance functions with a view to securing an appropriate degree of protection for recipients of pensions guidance from designated guidance providers.
(2)In discharging its general pensions guidance functions the FCA must have regard to—
(a)its strategic and operational objectives in section 1B(2) and (3), and
(b)the regulatory principles in section 3B.
(3)In this section the FCA's “general pensions guidance functions” means its functions of—
(a)setting standards under section 333H,
(b)issuing statements under section 333K,
(c)giving general guidance under section 333P (see section 333P(9)),
(d)making rules under section 333Q, and
(e)determining the general policy and principles by reference to which it performs particular functions under this Part.
(1)The FCA may give guidance consisting of such information and advice relating to its functions under sections 333H, 333I, 333J, 333K and 333Q as it considers appropriate.
(2)Subsection (3) applies where the FCA proposes to give guidance to designated guidance providers generally, or to a class of designated guidance provider, in relation to standards set under section 333H or rules made under section 333Q.
(3)Where this subsection applies, subsections (1)(b), (2)(e) and (3) of section 138I apply to the proposed guidance as they apply to proposed rules, unless the FCA considers that the delay in complying with those provisions would be prejudicial to the interests of recipients of pensions guidance from designated guidance providers.
(4)The FCA may—
(a)publish its guidance,
(b)offer copies of its published guidance for sale at a reasonable price, and
(c)if it gives guidance in response to a request made by any person, make a reasonable charge for that guidance.
(5)On giving any general guidance, the FCA must give written notice to the Treasury without delay.
(6)If the FCA alters any of its general guidance, it must give written notice to the Treasury without delay.
(7)The notice under subsection (6) must include details of the alteration.
(8)If the FCA revokes any of its general guidance, it must give written notice to the Treasury without delay.
(9)In this section “general guidance” means guidance given by the FCA under this section which is—
(a)given to persons generally, to designated guidance providers generally or to a class of designated guidance provider,
(b)intended to have continuing effect, and
(c)given in writing or other legible form.]