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Financial Services and Markets Act 2023
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Point in time view as at 29/08/2023.
Changes to legislation:
There are currently no known outstanding effects for the Financial Services and Markets Act 2023, PART 2.
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Revised legislation carried on this site may not be fully up to date. At the current time any known changes or effects made by subsequent legislation have been applied to the text of the legislation you are viewing by the editorial team. Please see ‘Frequently Asked Questions’ for details regarding the timescales for which new effects are identified and recorded on this site.
PART 2U.K.Consequential amendments to FSMA 2000
2U.K.FSMA 2000 is amended as follows.
Commencement Information
I1Sch. 8 para. 2 in force at 29.8.2023, see s. 86(2)(c)
3U.K.In section 3D (duty of FCA and PRA to ensure co-ordinated exercise of functions), in subsection (4), after “operational objectives”, insert “, or the purpose for which the FCA must exercise its functions under Part 8B (see section 131U(1))”.
Commencement Information
I2Sch. 8 para. 3 in force at 29.8.2023, see s. 86(2)(c)
4U.K.In section 55H (variation by FCA at request of authorised person), in subsection (4), after “objectives” insert “, or the purpose for which the FCA must exercise its functions under Part 8B (see section 131U(1))”.
Commencement Information
I3Sch. 8 para. 4 in force at 29.8.2023, see s. 86(2)(c)
5U.K.In section 55L (imposition of requirements by FCA), in subsection (6), after “objectives” insert “, or the purpose for which the FCA must exercise its functions under Part 8B (see section 131U(1))”.
Commencement Information
I4Sch. 8 para. 5 in force at 29.8.2023, see s. 86(2)(c)
6U.K.In section 55T (persons whose interests are protected), after “operational objectives,” insert “the purpose for which the FCA must exercise its functions under Part 8B,”.
Commencement Information
I5Sch. 8 para. 6 in force at 29.8.2023, see s. 86(2)(c)
7U.K.In section 232A (ombudsman scheme operator’s duty to provide information to FCA), after “objectives,” insert “, or the purpose for which the FCA must exercise its functions under Part 8B (see section 131U(1)),”.
Commencement Information
I6Sch. 8 para. 7 in force at 29.8.2023, see s. 86(2)(c)
8U.K.In section 395 (the FCA’s and PRA’s procedures), in subsection (13), after paragraph (bbzb) insert—
“(bbzc)131W;”
Commencement Information
I7Sch. 8 para. 8 in force at 29.8.2023, see s. 86(2)(c)
9U.K.In section 429 (Parliamentary control of statutory instruments), in subsection (2), in the list of sections beginning with “90B” insert at the appropriate place “131O(7),”.
Commencement Information
I8Sch. 8 para. 9 in force at 29.8.2023, see s. 86(2)(c)
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