with respect to the carrying on by them of regulated activities, or

with respect to the carrying on by them of activities which are not regulated activities,

make provision prohibiting an EEA firm from carrying on, or holding itself out as carrying on, any activity which it has permission conferred by Part 2 of Schedule 3 to carry on in the United Kingdom;

make provision, as respects an EEA firm, about any matter for which responsibility is, under any of the single market directives or the emission allowance auctioning regulation, reserved to the firm's home state regulator.

make provision which results in that clients' money being held on trust in accordance with the rules,

treat 2 or more accounts as a single account for specified purposes (which may include the distribution of money held in the accounts),

authorise the retention by the authorised person of interest accruing on the clients' money, and

make provision as to the distribution of such interest which is not to be retained by the authorised person.

with knowledge that it is wrongful, or

having deliberately failed to make enquiries in circumstances in which a reasonable and honest person would have done so.

confer rights on persons to rescind agreements with, or withdraw offers to, authorised persons within a specified period, and

make provision, in respect of authorised persons and persons exercising those rights, for the restitution of property and the making or recovery of payments where those rights are exercised.

imposing charges of a specified description or exceeding a specified amount on a person who is the borrower under a regulated credit agreement;

exercising the rights of the lender under a regulated credit agreement (as a person for the time being entitled to exercise them) in a way that enables the agreement to remain in force after the end of a specified period or enables the imposition on the borrower of charges within paragraph (a)(i) or (ii).

any person providing a guarantee or indemnity under the regulated credit agreement, and

a person to whom the rights and duties of the borrower under the regulated credit agreement or a person falling within paragraph (a) have passed by assignment or operation of law.

provide for the agreement or obligation to be unenforceable against any person or specified person;

provide for the recovery of any money or other property paid or transferred under the agreement or other obligation by any person or specified person;

provide for the payment of compensation for any loss sustained by any person or specified person as a result of paying or transferring any money or other property under the agreement or obligation.

entering into or administering the agreement;

exercising or being able to exercise the rights of the lender under the agreement.

“specified amount” means an amount specified in or determined in accordance with the rules;

“specified period” means a period of a duration specified in or determined in accordance with the rules;

“specified person” means a person of a description specified in the rules;

subject to that, “specified” means specified in the rules.

the consumer protection objective or the competition objective, or

if the Treasury by order provide for this paragraph to apply, the integrity objective.

entering into specified agreements with any person or specified person;

entering into specified agreements with any person or specified person unless requirements specified in the rules have been satisfied;

doing anything that would or might result in the entering into of specified agreements by persons or specified persons, or the holding by them of a beneficial or other kind of economic interest in specified agreements;

doing anything within paragraph (c) unless requirements specified in the rules have been satisfied.

whether the entering into of a specified agreement itself constitutes the carrying on of a regulated activity, or

whether, in a case within subsection (2)(c) or (d), the specified agreements are with the authorised persons concerned or anyone else.

requirements as to the terms and conditions that are to be, or are not to be, included in specified or other agreements, and

requirements limiting invitations or inducements to enter into specified or other agreements to those made to specified persons.

provide for a relevant agreement or obligation to be unenforceable against any person or specified person;

provide for the recovery of any money or other property paid or transferred under a relevant agreement or obligation by any person or specified person;

provide for the payment of compensation for any loss sustained by any person or specified person as a result of paying or transferring any money or other property under a relevant agreement or obligation.

a specified agreement;

an agreement entered into in contravention of any rule made as a result of subsection (2)(c) or (d);

an obligation to which a person is subject as a result of exercising a right conferred by an agreement within paragraph (a) or (b) of this subsection.

any reference to entering into an agreement includes inviting or inducing persons to enter into an agreement, and

any reference to an agreement includes an arrangement.

a draft of the order has been laid before Parliament and approved by a resolution of each House, or

subsection (3) applies.

must be laid before Parliament after being made, and

ceases to have effect at the end of the relevant period unless before the end of that period the order is approved by a resolution of each House of Parliament (but without that affecting anything done under the order or the power to make a new order).

require authorised persons to whom the rules apply to provide information of a specified kind, or expressions of opinion as to specified matters, to persons determined in accordance with the rules;

make provision about the form in which and the time by which any information or expression of opinion is to be provided;

make provision by reference to any code or other document published by the person responsible for the setting of the benchmark or by any other person determined in accordance with the rules, as the code or other document has effect from time to time.

the Secretary of State, and

the Treasury.

who has a right to payments under a relevant annuity, and

if the Treasury make regulations under subsection (3), who is not an exempt person by virtue of those regulations,

about what specified authorised persons must do to check that an individual has received appropriate advice for the purposes of those rules;

about when the check must be carried out.

“relevant annuity” means an annuity specified (by type, value or otherwise) as a relevant annuity in regulations made by the Treasury;

“appropriate advice” means advice specified (by reference to the person giving the advice or otherwise) as appropriate advice in regulations made by the Treasury;

“specified authorised person” means an authorised person of a description specified in rules made by virtue of subsection (1).

imposing specified early exit charges on members of relevant pension schemes, and

including in relevant pension schemes provision for the imposition of specified early exit charges on members of such schemes.

provide for the obligation to pay the charge to be unenforceable or unenforceable to a specified extent;

provide for the recovery of amounts paid in respect of the charge;

provide for the payment of compensation for any losses incurred as a result of paying amounts in respect of the charge.

is imposed under the scheme when a member who has reached normal minimum pension age takes the action mentioned in subsection (7), but

is only imposed, or only imposed to that extent, if the member takes that action before the member's expected retirement date.

with respect to the carrying on by them of regulated activities, or

with respect to the carrying on by them of activities which are not regulated activities,

make provision prohibiting an EEA firm from carrying on, or holding itself out as carrying on, any activity which it has permission conferred by Part 2 of Schedule 3 to carry on in the United Kingdom;

make provision, as respects an EEA firm, about any matter for which responsibility is, under any of the single market directives or the emission allowance auctioning regulation, reserved to the firm's home state regulator.

provide that any provision of an agreement that contravenes such a prohibition is void, and

provide for the recovery of any payment made, or other property transferred, in pursuance of a provision that is void by virtue of paragraph (a).

officers,

employees, or

other persons,

an institution authorised in the UK; or

a qualifying parent undertaking within the meaning given by section 192B.

by an institution authorised in the UK which is not part of a group, following a significant deterioration of the financial position of the institution, in order to restore its financial position; or

in relation to a group, to achieve the stabilisation of the group as a whole, or of any institution within the group, where the group or institution is in a situation of financial stress, in order to address or remove the causes of the financial stress and restore the financial position of the group or institution.

circumstances arising in which it is likely that the business (or any part of the business) of an authorised person will fail, or

the failure of the business (or any part of the business) of an authorised person.

planning by the Treasury in relation to the possible exercise of any of its powers under Part 1 of the Banking Act 2009, or

planning by the Bank of England in relation to the possible exercise of any of its powers under Part 1, 2 or 3 of that Act.

the authorised person,

any other person in the same group as the authorised person, or

a partnership of which the authorised person is a member.

any person in the same group as the authorised person, and

a partnership of which the authorised person is a member.

A enters insolvency,

any of the stabilisation options in Part 1 of the Banking Act 2009 is achieved in relation to A, or

A falls to be taken for the purposes of the compensation scheme to be unable, or likely to be unable, to satisfy claims against A.

bankruptcy,

liquidation,

bank insolvency,

administration,

bank administration,

receivership,

a composition between A and A's creditors, and

a scheme of arrangement of A's affairs.

the information is or may be relevant to anything required to be done as a result of a requirement imposed by general rules made by either regulator to prepare a recovery plan or a F23resolution pack,

an authorised person or a skilled person requests or requires P to provide the information for the purpose of securing that those things are done, and

the regulator in question has approved the making of the request or the imposition of the requirement before it is made or imposed.

keeping F25that plan or pack up to date, and

collecting specified information for the purposes of F26that plan or pack.

specify requirements which a person must satisfy in order to be regarded as satisfying a particular condition in relation to any regulated activities;

specify matters which are, or may be, or are not, relevant in determining whether a person satisfies a particular condition in relation to any regulated activities.

require the withholding of information which A would otherwise be required to disclose to a person (“B”) for or with whom A does business in the course of carrying on any regulated or other activity;

specify circumstances in which A may withhold information which A would otherwise be required to disclose to B;

specify circumstances in which A may decide not to use for the benefit of B information within paragraph (c).

the circumstances and manner in which,

the conditions subject to which, and

the time when or the period during which,

are to be made so as to apply only to authorised persons;

must not apply to transactions, orders, behaviour, actions or omissions to which the market abuse regulation applies;

may make different provision in relation to different kinds of investment.

corresponding to the relevant provisions of Article 5 of the market abuse regulation, and

made by a body or authority outside the EEA as may be specified in rules made by the FCA,

F30section 90(9)(d);

F31section 91(4)(c).

to engage in investment activity, or

to participate in a collective investment scheme.

if made by a person other than an authorised person, without the approval of an authorised person, would contravene section 21(1), and

may be made by an authorised person without contravening section 238(1).

that the communication would not contravene subsection (1) of section 21 because it is a communication to which that subsection does not apply as a result of an order under subsection (5) of that section,

that the FCA considers that the rules are necessary to secure that the communication satisfies such of the requirements mentioned in paragraph (b) as the FCA considers apply to the communication.

an authorised person has made, or proposes to make, a communication or has approved, or proposes to approve, another person's communication, and

the FCA considers that there has been, or is likely to be, a contravention of financial promotion rules in respect of the communication or approval.

to withdraw the communication or approval;

to refrain from making the communication or giving the approval (whether or not it has previously been made or given);

to publish details of the direction;

to do anything else specified in the direction in relation to the communication or approval.

the other communication is in all material respects the same as, or substantially the same as, the communication to which the direction relates, and

in all the circumstances a reasonable person would think that another direction would be given under this section in relation to the other communication.

a requirement to publish details of the direction has effect at such time (if any) as the FCA gives a notice under subsection (8)(a);

any other requirement takes effect immediately.

it must give written notice to the authorised person, and

if the direction relates to the approval by the authorised person of another person's communication, it must also give written notice to that other person.

give details of the direction,

inform the person to whom the notice is given that the direction takes effect immediately,

state the FCA's reasons for giving the direction, and

inform the person to whom the notice is given that the person may make representations to the FCA within such period as may be specified in the notice (which may be extended by the FCA).

the FCA must give separate written notice to the persons mentioned in subsection (5)(a) or (b), and

any such person may refer the matter to the Tribunal.

give details of the direction and of any amendment of it,

state the FCA's reasons for deciding not to revoke the direction and, if relevant, for amending it,

inform the person to whom the notice is given of the person's right to refer the matter to the Tribunal, and

give an indication of the procedure on such a reference.

are not to apply to that person, or

are to apply to that person with such modifications as may be specified in the direction.

rules made by either regulator under section 64A (rules of conduct);

rules made by either regulator under section 137O (threshold condition code);

rules made by the FCA under section 247 (trust scheme rules) F36, section 248 (scheme particulars rules), section 261I (contractual scheme rules) or section 261J (contractual scheme particulars rules).

compliance by the person with the rules, or with the rules as unmodified, would be unduly burdensome or would not achieve the purpose for which the rules were made, and

the direction would not adversely affect the advancement of any of the regulator's objectives.

revoke a direction, or

vary it on the application, or with the consent, of the person to whom it relates.

persons likely to be affected by it, and

persons who are, in the opinion of the regulator, likely to make an application for a similar direction.

consider whether the publication of the direction would be detrimental to the stability of the UK financial system,

take into account whether the direction relates to a rule contravention of which is actionable in accordance with section 138D,

consider whether publication of the direction would prejudice, to an unreasonable degree, the commercial interests of the person concerned or any other member of the person's immediate group, and

consider whether its publication would be contrary to an international obligation of the United Kingdom.

a PRA-authorised person, or

an authorised person who has as a member of its immediate group a PRA-authorised person.

that contravention may be relied on as tending to establish contravention of such other rule made by that regulator as may be specified, or

that compliance may be relied on as tending to establish compliance with such other rule made by that regulator as may be specified.

section 137O (threshold condition code);

section 192J (provision of information by parent undertakings).

rules under section 64A (rules of conduct);

Part 6 rules;

rules under section 137O (threshold condition code);

rules under section 192J (provision of information by parent undertakings);

a rule requiring an authorised person to have or maintain financial resources.

rules made by the FCA under section 137C, F38...

product intervention rules made by the FCA under section 137D F39or

rules made by the FCA under section 137FBB.

on which is endorsed a certificate signed by a member of staff of that regulator who is authorised by the regulator for that purpose, and

which contains the required statements,

that the instrument was made by the FCA or the PRA (as the case may be),

that the copy is a true copy of the instrument, and

that on a specified date the instrument was made available to the public in accordance with section 138G(4).

consult the PRA, and

after doing so, publish a draft of the proposed rules in the way appearing to the FCA to be best calculated to bring them to the attention of the public.

a cost benefit analysis,

an explanation of the purpose of the proposed rules,

any statement prepared under section 138K(2),

an explanation of the FCA's reasons for believing that making the proposed rules is compatible with its duties under section 1B(1) and (5)(a), and

notice that representations about the proposals may be made to the FCA within a specified time.

the representations made to it in accordance with subsection (2)(e), and

its response to them.

details of the difference (in addition to complying with subsection (4)) together with a cost benefit analysis, and

any statement prepared under section 138K(4).

section 136(2);

section 137FB;

section 137FBA;

subsection (1) of section 213 as a result of subsection (4) of that section;

section 234;

section 333Q;

section 333R;

section 333T;

paragraph 23 of Schedule 1ZA;

paragraph 12 of Schedule 1A.

subject to subsection (8), an estimate of those costs and of those benefits.

the costs or benefits referred to in subsection (7) cannot reasonably be estimated, or

it is not reasonably practicable to produce an estimate,

rules made by the FCA under section 137FB, F52137FBA, 333Q F53, 333R or 333T, or

rules made by the FCA in relation to recognised investment exchanges under Part 18.

consult the FCA, and

after doing so, publish a draft of the proposed rules in the way appearing to the PRA to be best calculated to bring them to the attention of the public.

a cost benefit analysis,

an explanation of the purpose of the proposed rules,

any statement prepared under section 138K(2),

notice that representations about the proposals may be made to the PRA within a specified time.

the representations made to it in accordance with subsection (2)(e), and

its response to them.

details of the difference (in addition to complying with subsection (4)) together with a cost benefit analysis, and

any statement prepared under section 138K(4).

section 136(2);

subsection (1) of section 213 as a result of subsection (4) of that section;

section 234;

paragraph 31 of Schedule 1ZB;

paragraph 12 of Schedule 1A.

subject to subsection (8), an estimate of those costs and of those benefits.

the costs or benefits referred to in subsection (7) cannot reasonably be estimated, or

it is not reasonably practicable to produce an estimate,

authorised persons which are mutual societies, and

other authorised persons.

its opinion whether or not the impact of the proposed rule on persons within subsection (1)(a) will be significantly different from its impact on persons within subsection (1)(b), and

if so, details of the difference.

differs from the draft of the proposed rule published under section 138I(1)(b) or section 138J(1)(b) (as the case may be).

if so, details of the difference.

a building society within the meaning of the Building Societies Act 1986;

a friendly society within the meaning of the Friendly Societies Act 1992;

a registered society within the meaning of F54the Co-operative and Community Benefit Societies Act 2014;

an EEA mutual society.

a body which is a European Cooperative Society for the purposes of Council Regulation (EC) No 1435/2003 (statute for a European Cooperative Society);

a body which is established as a cooperative under the law of an EEA state as mentioned in that Regulation;

a body which is a cooperative or mutual undertaking of such description as the Treasury specify by order and which is established or operates in accordance with the laws of an EEA state.

be prejudicial to the safety and soundness of PRA-authorised persons, or

in a case where section 2C applies, be prejudicial to securing the appropriate degree of protection for policyholders.

there will be no increase in costs, or

there will be an increase in costs but that increase will be of minimal significance.

subsections (2)(a) and (5)(a) of section 138I;

subsections (2)(a) and (5)(a) of section 138J.

in relation to section 138I(2)(a) or 138J(2)(a), a comparison between the overall position if the rules are made and the overall position if the rules are not made;

in relation to section 138I(5)(a) or 138J(5)(a), a comparison between the overall position after the making of the rules and the overall position before they were made.

the consumer protection objective or the competition objective, or

if an order under section 137D(1)(b) is in force, the integrity objective.

the representations made to it in accordance with subsection (2), and

its response to them.