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The Insurance Distribution (Regulated Activities and Miscellaneous Amendments) Regulations 2024

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Draft Regulations laid before Parliament under paragraph 26 of Schedule 2 to the Financial Services and Markets Act 2000 (c. 8), and sections 5(3) and 84(5) of the Financial Services and Markets Act 2023 (c. 29), for approval by resolution of each House of Parliament.

Draft Statutory Instruments

2024 No.

FINANCIAL SERVICES AND MARKETS

The Insurance Distribution (Regulated Activities and Miscellaneous Amendments) Regulations 2024

Made

***

Coming into force

1st January 2025

The Treasury make these Regulations in exercise of the powers conferred by sections 22(1) and (5) and 428(3) of, and paragraph 25(1)(a) of Schedule 2 to, the Financial Services and Markets Act 2000(1), and sections 5(1), 83(1) and (2) of the Financial Services and Markets Act 2023(2).

In the opinion of the Treasury, one of the effects of these Regulations is that an activity which is not a regulated activity will become a regulated activity.

In accordance with paragraph 26 of Schedule 2 to the Financial Services and Markets Act 2000 and sections 5(3) and 84(5) of the Financial Services and Markets Act 2023(3), a draft of these Regulations has been laid before, and approved by a resolution of, each House of Parliament.

(3)

For the meaning of “affirmative procedure”, see 84(3) of the Financial Services and Markets Act 2023 (c. 29).

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