2.—(1) The provisions listed in paragraph (2) come into force—
(a)on 6th September 2023, for the purpose of enabling the FCA to give directions, to give guidance and to make rules;
(b)on 6th November 2023, for the purpose of the FCA receiving, but not determining, applications for permission to approve financial promotions made during the application period.
(2) The provisions are—
(a)in section 20 (financial promotion)—
(i)subsection (1), so far as it relates to the provisions referred to in paragraph (ii) to (iv) below of this sub-paragraph;
(ii)subsection (2);
(iii)subsection (3), so far as it inserts section 55NA (general requirement relating to financial promotion approval) of FSMA 2000;
(iv)subsection (4), so far as it relates to the provisions referred to in sub-paragraph (b);
(b)in Schedule 5 (financial promotion: related amendments)—
(i)paragraph 1, so far as it relates to the provisions in sub-paragraph (ii);
(ii)paragraphs 2, 3, 4, 6, 7, 8, 9, 10, 11 and 12.
(3) Section 20 of, and Schedule 5 to, the Act come into force on 7th February 2024, so far as not already commenced by paragraphs (1) and (2).
(4) In paragraph (1)(b) and regulation 3(1), the “application period” means the period beginning with 6th November 2023 and ending with 6th February 2024.
Commencement Information
I1Reg. 2 in force at made date