The Financial Services Act 2021 (Prudential Regulation of Credit Institutions and Investment Firms) (Consequential Amendments and Miscellaneous Provisions) Regulations 2021

Application and interpretation of regulations 35 to 37

38.—(1) The transitional provisions in regulations 35 to 37 apply from the beginning of 1 January 2022 and cease to have effect on 1 January 2023.

(2) In regulations 35 to 37 and this regulation—

(a) “FCA Handbook” means the Handbook made by the Financial Conduct Authority under the Financial Services and Markets Act 2000(1);

(b) “prudential regulation changes” means any one or more of the following—

(i) changes made by sections 1 or 2 of, or Schedules 1 or 2 to, the Financial Services Act 2021(2);

(ii) provision made by the Treasury under section 45 of the Financial Services Act 2021 (power to make consequential provision);

(iii) provision made by the Treasury under section 143B(2) of the Financial Services and Markets Act 2000 (other terms used in this Part)(3);

(iv) the deletion of the Prudential sourcebook for Investment Firms (IFPRU) or the creation of the Prudential sourcebook for MiFID Investment Firms (MIFIDPRU) in the FCA Handbook;

(c) “securitisation” has the meaning given in Article 2(1) of Regulation (EU) 2017/2402.

(1)

2000 c. 8.

(2)

2021 c. 22.

(3)

2000 c. 8; section 143B(2) was inserted by paragraph 1 of Schedule 2 to the Financial Services Act 2021 (c. 22).