Financial Services and Markets Act 2000 (c. 8)

[F1 PART 20A U.K. PENSIONS GUIDANCE

Textual Amendments

F1 Pt. 20A inserted (3.3.2015) by Pension Schemes Act 2015 (c. 8), s. 89(1)(a), Sch. 3 para. 2 (with s. 87, Sch. 3 para. 18(1))

Standards for giving of pensions guidance by designated guidance providers U.K.

333L FCA policy on making recommendations under section 333J: procedure U.K.

(1) Before issuing a statement under section 333K, the FCA must—

(a) consult the Treasury, and

(b) publish a draft of the proposed statement in the way appearing to the FCA to be best calculated to bring it to the attention of the public.

(2) The draft must be accompanied by notice that representations about the proposal may be made to the FCA within a specified time.

(3) Before issuing the proposed statement, the FCA must have regard to any representations made to it within the specified time.

(4) If the FCA issues the proposed statement it must publish an account, in general terms, of—

(a) the representations made to it within the specified time, and

(b) its response to them.

(5) If the statement differs from the draft published under subsection (1)(b) in a way which is, in the opinion of the FCA, significant, the FCA must (in addition to complying with subsection (4)) publish details of the difference.

(6) The FCA may charge a reasonable fee for providing a person with a copy of a draft published under subsection (1)(b).

(7) This section also applies to a proposal to alter or replace a statement.]