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There are currently no known outstanding effects for the The Financial Services and Markets Act 2000 (Ring-fenced Bodies and Core Activities) Order 2014,
PART 4
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14.—(1) The FCA must make rules specifying the information a non ring-fenced body must provide at any specified time (“specified information”) to—
(a)individuals who have applied to open an account with that non ring-fenced body (including a joint account); and
(b)account-holders of that non ring-fenced body who are individuals.
(2) The specified information must include a description of—
(a)any excluded activity M1 which the non ring-fenced body is carrying on; and
(b)any prohibited action which the non ring-fenced body has taken;
at the time at which rules made by the FCA under paragraph (1) specify the information must be provided.
(3) In this article—
(a)“non ring-fenced body” means a UK deposit-taker which is not—
(i)a ring-fenced body, or
(ii)an institution which is exempt from the definition of a ring-fenced body by virtue of section 142A(2) of the 2000 Act or any order made under that section;
(b)“prohibited action” means any action which a ring-fenced body is prohibited from taking by the excluded activities and prohibitions order.
Marginal Citations
M1“Excluded activity” is defined in section 142D of the Act. Section 142D was inserted into the Act by the Financial Services (Banking Reform) Act 2013 (c 33), section 4.
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