C22C14C21F3PART 9ARules and Guidance
Pt. 9A applied (with modifications) (31.12.2020) by The Transparency of Securities Financing Transactions and of Reuse (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/542), regs. 1, 35 (as amended by S.I. 2020/1385, regs. 1(4), 56(7)) (with savings in S.I. 2019/680, reg. 11); 2020 c. 1, Sch. 5 para. 1(1)
Pt. 9A applied (31.12.2020) by The Solvency 2 and Insurance (Amendment, etc.) (EU Exit) Regulations 2019 (S.I. 2019/407), regs. 1(2), 4, Sch. 3 (as amended by S.I. 2020/1301, regs. 1, 3, Sch. para. 27(a) and S.I. 2020/1385, regs. 1(2), 54(2))
Pt. 9A applied (with modifications) (31.12.2020) by The Over the Counter Derivatives, Central Counterparties and Trade Repositories (Amendment, etc., and Transitional Provision) (EU Exit) Regulations 2019 (S.I. 2019/335), regs. 1(1), 74 (as amended by S.I. 2020/1385, regs. 1(4), 52(7)) (with savings in S.I. 2019/680, reg. 11); 2020 c. 1, Sch. 5 para. 1(1)
C22C14C21CHAPTER 3Guidance
C6C23C2C16C9C19C18C12139APower of the FCA to give guidance
1
The FCA may give guidance consisting of such information and advice as it considers appropriate—
a
with respect to the operation of specified parts of this Act and of any rules made by the FCA;
b
with respect to any other matter relating to functions of the FCA;
c
with respect to any other matters about which it appears to the FCA to be desirable to give information or advice.
F41A
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
2
The FCA may give financial or other assistance to persons giving information or advice of a kind which the FCA could give under this section.
C17C1C7C13C4C5C113
Subsection (5) applies where the FCA proposes to give guidance to FCA-regulated persons generally, or to a class of FCA-regulated persons, in relation to rules to which those persons are subject.
4
Subsection (5) also applies in relation to guidance which the FCA proposes to give to persons generally, or to a class of person, in relation to its functions under the short selling regulation F1or the market abuse regulation F2, any retained EU direct legislation originally made under the market abuse regulation or any subordinate legislation (within the meaning of the Interpretation Act 1978) made on or after IP completion day under the market abuse regulation.
C25C15C35
Where this subsection applies, subsections (1), (2)(e) and (3) of section 138I (consultation) apply to the proposed guidance as they apply to proposed rules, unless the FCA considers that the delay in complying with those provisions would be prejudicial to the interests of consumers.
6
The FCA may—
a
publish its guidance,
b
offer copies of its published guidance for sale at a reasonable price, and
c
if it gives guidance in response to a request made by any person, make a reasonable charge for that guidance.
7
In this Chapter, references to guidance given by the FCA include references to any recommendations made by the FCA to FCA-regulated persons generally, or to any class of FCA-regulated person.
8
“Consumers” has the meaning given in section 1G.
9
“FCA-regulated person” means—
a
an authorised person, or
b
any person who is otherwise subject to rules made by the FCA.
C24C26C22C14C8C21139BNotification of FCA guidance to the Treasury
1
On giving any general guidance, the FCA must give written notice to the Treasury without delay.
2
If the FCA alters any of its guidance, it must give written notice to the Treasury without delay.
3
The notice under subsection (2) must include details of the alteration.
4
If the FCA revokes any of its general guidance, it must give written notice to the Treasury without delay.
C20C105
“General guidance” means guidance given by the FCA under section 139A which is—
a
given to persons generally, to FCA-regulated persons generally or to a class of FCA-regulated person,
b
intended to have continuing effect, and
c
given in writing or other legible form.
6
“FCA-regulated person” has the same meaning as in section 139A.
Pt. 9A substituted for ss. 138-164 (24.1.2013 for specified purposes, 1.4.2013 in so far as not already in force) by Financial Services Act 2012 (c. 21), ss. 24(1), 122(3) (with Sch. 20); S.I. 2013/113, art. 2(1)(c), Sch. Pt. 3; S.I. 2013/423, art. 3, Sch.