- Latest available (Revised)
- Point in Time (17/03/2016)
- Original (As enacted)
Version Superseded: 20/03/2016
Point in time view as at 17/03/2016.
Financial Services and Markets Act 2000, Cross Heading: The public record is up to date with all changes known to be in force on or before 07 September 2024. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
Changes and effects yet to be applied by the editorial team are only applicable when viewing the latest version or prospective version of legislation. They are therefore not accessible when viewing legislation as at a specific point in time. To view the ‘Changes to Legislation’ information for this provision return to the latest version view using the options provided in the ‘What Version’ box above.
(1)The [F1FCA] must maintain a record of every—
(a)person who appears to the [F1FCA] to be an authorised person;
(b)authorised unit trust scheme;
[F2(ba)authorised contractual scheme;]
(c)authorised open-ended investment company;
(d)recognised scheme;
(e)recognised investment exchange;
F3(f). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(g)individual to whom a prohibition order relates;
(h)approved person; F4. . .
[F5(ha)person to whom subsection (2A) applies; F6...]
[F7(hb)appointed representative to whom subsection (2B) applies; and]
(i)person falling within such other class (if any) as the [F1FCA] may determine.
(2)The record must include such information as the [F1FCA] considers appropriate and at least the following information—
(a)in the case of a person appearing to the [F1FCA] to be an authorised person—
(i)information as to the services which he holds himself out as able to provide; and
(ii)any address of which the [F1FCA] is aware at which a notice or other document may be served on him;
(b)in the case of an authorised unit trust scheme, the name and address of the manager and trustee of the scheme;
[F8(ba)in the case of an authorised contractual scheme, the name and address of the operator and depositary of the scheme;]
(c)in the case of an authorised open-ended investment company, the name and address of—
(i)the company;
(ii)if it has only one director, the director; and
(iii)its depositary (if any);
(d)in the case of a recognised scheme, the name and address of—
(i)the operator of the scheme; and
(ii)any representative of the operator in the United Kingdom;
(e)in the case of a recognised investment exchange F9... the name and address of the exchange F10...;
(f)in the case of an individual to whom a prohibition order relates—
(i)his name; and
(ii)details of the effect of the order;
(g)in the case of a person who is an approved person—
(i)his name;
(ii)the name of the [F11authorised person concerned];
(iii)if the approved person is performing a controlled function under an arrangement with a contractor of the [F12authorised person concerned], the name of the contractor.
[F13(iv)in a case where the authorised person concerned is a relevant authorised person, whether or not the person is a senior manager;]
[F14(h)in the case of an approved person who is a senior manager in relation to a relevant authorised person—
(i)whether a final notice has been given to the person under section 390; and
(ii)if so, any information about the matter to which the notice relates which has been published under section 391(4).]
[F15(i)in the case of a mortgage intermediary—
(i)the names of the persons within the management who are responsible for the activities specified by article 25A (arranging regulated mortgage contracts), article 36A (credit broking), article 53A (advising on regulated mortgage contracts) and article 53DA (advising on regulated credit agreements the purpose of which is to acquire land) of the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001; and
(ii)whether the mortgage intermediary is a tied mortgage intermediary or not;
(j)in the case of an appointed representative to whom subsection (2B) applies, the name of the mortgage intermediary on whose behalf the appointed representative acts;]
[F16(2A)This subsection applies to—
(a)an appointed representative to whom subsection (1A) of section 39 applies for whom the applicable register (as defined by subsection (1B) of that section) is the record maintained by virtue of subsection (1)(ha) above;
(b)a person mentioned in subsection (1)(a) of section 39A if—
(i)the contract with an authorised person to which he is party complies with the applicable requirements (as defined by subsection (7) of that section), and
(ii)the authorised person has accepted responsibility in writing for the person's activities in carrying on investment services business (as defined by subsection (8) of that section); and
(c)any person not falling within paragraph (a) or (b) in respect of whom the [F1FCA] considers that a record must be maintained for the purpose of securing compliance with Article 23.3 of the markets in financial instruments directive (registration of tied agents).]
[F17(2B)This subsection applies to an appointed representative to whom section 39(1BA) applies or to whom that subsection would apply if the requirements of section 39(1BB) were not met.]
(3)If it appears to the [F1FCA] that a person in respect of whom there is an entry in the record as a result of one of the paragraphs of subsection (1) has ceased to be a person to whom that paragraph applies, the [F1FCA] may remove the entry from the record.
(4)But if the [F1FCA] decides not to remove the entry, it must—
(a)make a note to that effect in the record; and
(b)state why it considers that the person has ceased to be a person to whom that paragraph applies.
[F18(4A)If the FCA cancels or varies the Part 4A permission of a mortgage intermediary and as a result the person to whom the entry relates no longer has a Part 4A permission to carry on a relevant mortgage activity within the meaning of section 55J(6C), the FCA must delete mention of such permission from the record without undue delay.]
(5)The [F1FCA] must—
(a)make the record available for inspection by members of the public in a legible form at such times and in such place or places as the [F1FCA] may determine; and
(b)provide a certified copy of the record, or any part of it, to any person who asks for it—
(i)on payment of the fee (if any) fixed by the [F1FCA]; and
(ii)in a form (either written or electronic) in which it is legible to the person asking for it.
(6)The [F1FCA] may—
(a)publish the record, or any part of it;
(b)exploit commercially the information contained in the record, or any part of that information.
(7)“Authorised unit trust scheme”, [F19“authorised contractual scheme”,] “authorised open-ended investment company” and “recognised scheme” have the same meaning as in Part XVII, and associated expressions are to be read accordingly.
(8)“Approved person” means a person in relation to whom the [F20FCA or the PRA] has given its approval under section 59 and “controlled function” and “arrangement” have the same meaning as in that section.
[F21(8A)In this section—
“relevant authorised person” has the same meaning as in Part 5 (see section 71A),
“senior manager”, in relation to a relevant authorised person, means a person who has approval under section 59 to perform a designated senior management function in relation to the carrying on by the authorised person of a regulated activity, and
“designated senior management function” means a function designated as a senior management function under section 59(6A) or (6B).]
[F22(9)The authorised person concerned”, in relation to an approved person, means the person on whose application approval was given.]
Textual Amendments
F1Word in s. 347(1)-(6) substituted (1.4.2013) by Financial Services Act 2012 (c. 21), s. 122(3), Sch. 12 para. 16(2) (with Sch. 20); S.I. 2013/423, art. 3, Sch.
F2S. 347(1)(ba) inserted (6.6.2013) by The Collective Investment in Transferable Securities (Contractual Scheme) Regulations 2013 (S.I. 2013/1388), regs. 1, 3(16)(a) (with reg. 24)
F3S. 347(1)(f) omitted (1.4.2013) by virtue of Financial Services Act 2012 (c. 21), s. 122(3), Sch. 12 para. 16(3) (with Sch. 20); S.I. 2013/423, art. 3, Sch.
F4Word in s. 347(1) omitted (1.4.2007 for certain purposes and 1.11.2007 otherwise) by virtue of The Financial Services and Markets Act 2000 (Markets in Financial Instruments) Regulations 2007 (S.I. 2007/126), regs. 1(2), 3(5), Sch. 5 para. 12(a)
F5S. 347(1)(ha) inserted (1.4.2007 for certain purposes and 1.11.2007 otherwise) by The Financial Services and Markets Act 2000 (Markets in Financial Instruments) Regulations 2007 (S.I. 2007/126), regs. 1(2), 3(5), Sch. 5 para. 12(b)
F6Word in s. 347(1)(ha) omitted (20.4.2015 for specified purposes, 21.12.2015 for specified purposes, 21.3.2016 in so far as not already in force) by virtue of The Mortgage Credit Directive Order 2015 (S.I. 2015/910), art. 1(5), Sch. 1 para. 1(7)(a)(i) (with Pt. 4)
F7S. 347(1)(hb) inserted (20.4.2015 for specified purposes, 21.12.2015 for specified purposes, 21.3.2016 in so far as not already in force) by The Mortgage Credit Directive Order 2015 (S.I. 2015/910), art. 1(5), Sch. 1 para. 1(7)(a)(ii) (with Pt. 4)
F8S. 347(2)(ba) inserted (6.6.2013) by The Collective Investment in Transferable Securities (Contractual Scheme) Regulations 2013 (S.I. 2013/1388), regs. 1, 3(16)(b) (with reg. 24)
F9Words in s. 347(2)(e) omitted (1.4.2013) by virtue of Financial Services Act 2012 (c. 21), s. 122(3), Sch. 12 para. 16(4)(a) (with Sch. 20); S.I. 2013/423, art. 3, Sch.
F10Words in s. 347(2)(e) omitted (1.4.2013) by virtue of Financial Services Act 2012 (c. 21), s. 122(3), Sch. 12 para. 16(4)(b) (with Sch. 20); S.I. 2013/423, art. 3, Sch.
F11Words in s. 347(2)(g)(ii) substituted (7.3.2016) by Financial Services (Banking Reform) Act 2013 (c. 33), s. 148(5), Sch. 3 para. 11; S.I. 2015/490, art. 2(1)(b) (with savings and transitional provisions in S.I. 2015/492 (as amended by S.I. 2015/1660))
F12Words in s. 347(2)(g)(iii) substituted (7.3.2016) by Financial Services (Banking Reform) Act 2013 (c. 33), s. 148(5), Sch. 3 para. 11; S.I. 2015/490, art. 2(1)(b) (with savings and transitional provisions in S.I. 2015/492 (as amended by S.I. 2015/1660))
F13S. 347(2)(g)(iv) inserted (7.3.2016) by Financial Services (Banking Reform) Act 2013 (c. 33), ss. 34(2)(a), 148(5); S.I. 2015/490, art. 2(1)(c) (with savings and transitional provisions in S.I. 2015/492 (as amended by S.I. 2015/1660))
F14S. 347(2)(h) inserted (7.3.2016) by Financial Services (Banking Reform) Act 2013 (c. 33), ss. 34(2)(b), 148(5); S.I. 2015/490, art. 2(1)(c) (with savings and transitional provisions in S.I. 2015/492 (as amended by S.I. 2015/1660))
F15S. 347(2)(i)(j) inserted (20.4.2015 for specified purposes, 21.12.2015 for specified purposes, 21.3.2016 in so far as not already in force) by The Mortgage Credit Directive Order 2015 (S.I. 2015/910), art. 1(5), Sch. 1 para. 1(7)(b) (with Pt. 4)
F16S. 347(2A) inserted (1.4.2007 for certain purposes and 1.11.2007 otherwise) by The Financial Services and Markets Act 2000 (Markets in Financial Instruments) Regulations 2007 (S.I. 2007/126), regs. 1(2), 3(5), Sch. 5 para. 12(c)
F17S. 347(2B) inserted (20.4.2015 for specified purposes, 21.12.2015 for specified purposes, 21.3.2016 in so far as not already in force) by The Mortgage Credit Directive Order 2015 (S.I. 2015/910), art. 1(5), Sch. 1 para. 1(7)(c) (with Pt. 4)
F18S. 347(4A) inserted (20.4.2015 for specified purposes, 21.12.2015 for specified purposes, 21.3.2016 in so far as not already in force) by The Mortgage Credit Directive Order 2015 (S.I. 2015/910), art. 1(5), Sch. 1 para. 1(7)(d) (with Pt. 4)
F19Words in s. 347(7) inserted (6.6.2013) by The Collective Investment in Transferable Securities (Contractual Scheme) Regulations 2013 (S.I. 2013/1388), regs. 1, 3(16)(c) (with reg. 24)
F20Words in s. 347(8) substituted (1.4.2013) by Financial Services Act 2012 (c. 21), s. 122(3), Sch. 12 para. 16(5) (with Sch. 20); S.I. 2013/423, art. 3, Sch.
F21S. 347(8A) inserted (7.3.2016) by Financial Services (Banking Reform) Act 2013 (c. 33), ss. 34(3), 148(5); S.I. 2015/490, art. 2(1)(c) (with savings and transitional provisions in S.I. 2015/492 (as amended by S.I. 2015/1660))
F22S. 347(9) substituted (7.3.2016) by Financial Services (Banking Reform) Act 2013 (c. 33), ss. 34(4), 148(5); S.I. 2015/490, art. 2(1)(c) (with savings and transitional provisions in S.I. 2015/492 (as amended by S.I. 2015/1660))
Modifications etc. (not altering text)
C1S. 347 excluded by S.I. 2013/1881, art. 56(2E) (as inserted (17.3.2016 for specified purposes, 20.3.2016 in so far as not already in force) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2016 (S.I. 2016/392), arts. 1(2)(3)(b), 7(2) (with Pt. 5))
C2S. 347(1)(a) disapplied (temp. from 31.10.2004 until 30.4.2005) by The Financial Services and Markets Act 2000 (Transitional Provisions) (Mortgages) Order 2004 (S.I. 2004/2615), arts. 1(2)(b), 5, Sch. para. 9
C3S. 347(1)(a) disapplied (temp. from 14.1.2005 until 14.7.2005) by The Financial Services and Markets Act 2000 (Transitional Provisions) (General Insurance Intermediaries) Order 2004, (S.I. 2004/3351), arts. 1(2)(b), 5, {Sch. para. 8}
C4S. 347(1)(a) disapplied (6.4.2007) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2006 (S.I. 2006/1969), arts. 1(3), 7, Sch. para. 9
C5S. 347(1)(h) disapplied (temp. from 31.10.2004 until 30.4.2005) by The Financial Services and Markets Act 2000 (Transitional Provisions) (Mortgages) Order 2004 (S.I. 2004/2615), arts. 1(2)(b), 5, Sch. para. 10
C6S. 347(1)(h) disapplied (temp. from 14.1.2005 until 14.7.2005) by The Financial Services and Markets Act 2000 (Transitional Provisions) (General Insurance Intermediaries) Order 2004, (S.I. 2004/3351), arts. 1(2)(b), 5, {Sch. para. 9}
C7S. 347(1)(h) disapplied (6.4.2007) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2006 (S.I. 2006/1969), arts. 1(3), 7, Sch. para. 10
Commencement Information
I1S. 347 partly in force; s. 347 not in force at Royal Assent see s. 431(2); s. 347(3)-(9) in force at 1.12.2001 by S.I. 2001/3538, art. 2(1); s. 347(1)(2) in force for specified purposes at 1.12.2001, 1.5.2002, 1.8.2002, 1.12.2002 by S.I. 2001/3528, art. 2(1)(3)
(1)The PRA must, for the purpose of assisting the FCA to comply with its duty under section 347—
(a)notify the FCA if the information included in the record as required under section 347(2)(a) appears to the PRA to be incomplete or inaccurate,
(b)if it makes a prohibition order relating to an individual, provide the FCA with information falling within section 347(2)(f) in relation to that order,
(c)where it is the appropriate regulator in relation to an approved person, provide the FCA with information falling within section 347(2)(g) in relation to that approved person, and
(d)where the FCA has notified the PRA that it considers it appropriate to include in the record information of a certain description, disclose to the FCA such information of that description as the PRA has in its possession.
(2)The duty to provide information under this section does not apply to information which the PRA reasonably believes is in the possession of the FCA.
(3)Subsection (1) does not require or authorise the disclosure of information whose disclosure is prohibited by or under section 348.
(4)This section is without prejudice to any other power to disclose information.
(5)In this section references to the “record” are to the record maintained under section 347.]
Textual Amendments
F23S. 347A inserted (1.4.2013) by Financial Services Act 2012 (c. 21), s. 122(3), Sch. 12 para. 17 (with Sch. 20); S.I. 2013/423, art. 3, Sch.
The Whole Act you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.
Would you like to continue?
The Whole Act you have selected contains over 200 provisions and might take some time to download.
Would you like to continue?
The Whole Act without Schedules you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.
Would you like to continue?
The Whole Act without Schedules you have selected contains over 200 provisions and might take some time to download.
Would you like to continue?
The Whole Act you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.
Would you like to continue?
The Whole Act without Schedules you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.
Would you like to continue?
The Schedules you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.
Would you like to continue?
Latest Available (revised):The latest available updated version of the legislation incorporating changes made by subsequent legislation and applied by our editorial team. Changes we have not yet applied to the text, can be found in the ‘Changes to Legislation’ area.
Original (As Enacted or Made): The original version of the legislation as it stood when it was enacted or made. No changes have been applied to the text.
Point in Time: This becomes available after navigating to view revised legislation as it stood at a certain point in time via Advanced Features > Show Timeline of Changes or via a point in time advanced search.
Geographical Extent: Indicates the geographical area that this provision applies to. For further information see ‘Frequently Asked Questions’.
Show Timeline of Changes: See how this legislation has or could change over time. Turning this feature on will show extra navigation options to go to these specific points in time. Return to the latest available version by using the controls above in the What Version box.
Text created by the government department responsible for the subject matter of the Act to explain what the Act sets out to achieve and to make the Act accessible to readers who are not legally qualified. Explanatory Notes were introduced in 1999 and accompany all Public Acts except Appropriation, Consolidated Fund, Finance and Consolidation Acts.
Access essential accompanying documents and information for this legislation item from this tab. Dependent on the legislation item being viewed this may include:
This timeline shows the different points in time where a change occurred. The dates will coincide with the earliest date on which the change (e.g an insertion, a repeal or a substitution) that was applied came into force. The first date in the timeline will usually be the earliest date when the provision came into force. In some cases the first date is 01/02/1991 (or for Northern Ireland legislation 01/01/2006). This date is our basedate. No versions before this date are available. For further information see the Editorial Practice Guide and Glossary under Help.
Use this menu to access essential accompanying documents and information for this legislation item. Dependent on the legislation item being viewed this may include:
Click 'View More' or select 'More Resources' tab for additional information including: