- Draft legislation
This is a draft item of legislation. This draft has since been made as a UK Statutory Instrument: The Consumer Composite Investments (Designated Activities) Regulations 2024 No. 1198
2. Section 384 of FSMA 2000 (power of FCA or PRA to require restitution)(1) applies in respect of contraventions of a requirement imposed by virtue of regulation 6 of these Regulations and persons knowingly concerned in the contravention of such a requirement as if, in subsection (1), reference to an authorised person or recognised investment exchange included persons subject to designated activity rules made by virtue of regulation 6 of these Regulations.
Relevant amendments were made by paragraphs 23(2)(a), (b), 23(4)(a), (b) and 23(5) of Schedule 9 to the Financial Services Act 2012 and S.I. 2016/680. There are other amendments which are not relevant.
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