2022 No. 163 (C. 8)

Financial Services

The Financial Services Act 2021 (Commencement No. 4) Regulations 2022

Made

The Treasury, in exercise of the powers conferred by section 49(5) of the Financial Services Act 20211, make the following Regulations.

Citation1

These Regulations may be cited as the Financial Services Act 2021 (Commencement No. 4) Regulations 2022.

Provisions of the Financial Services Act 2021 coming into force on 23rd February 20222

The following provisions of the Financial Services Act 2021 come into force on 23rd February 2022—

a

section 24 and Schedule 9 (Collective investment schemes authorised in approved countries);

b

section 25 (Individually recognised overseas collective investment schemes), except for section 25(4)(a); and

c

section 26 (Money market funds authorised in approved countries).

Provisions of the Financial Services Act 2021 coming into force on 1st January 20233

Section 25(4)(a) of the Financial Services Act 2021 comes into force on 1st January 2023.

Amanda SollowayMichael TomlinsonTwo of the Lords Commissioners of Her Majesty’s Treasury
EXPLANATORY NOTE

(This note is not part of the Regulations)

Regulation 2 of these Regulations brings into force on 23rd February 2022 section 24 of, and Schedule 9 to, and sections 25 and 26 of the Financial Services Act 2021 (c. 22) (“the Act”), dealing with access to financial services markets, except for section 25(4)(a) of the Act. Regulation 3 of these Regulations brings into force on 1st January 2023 section 25(4)(a) of the Act which amends the Financial Services and Markets Act 2000 (c. 8). These Regulations are the fourth set of commencement regulations made under the Act. An impact assessment has not been published for these Regulations as they have no impact on the costs to business or the public or voluntary sectors independent of the provision these Regulations bring into force. A full impact assessment has been published in relation to the Act and copies can be obtained from HM Treasury, 1 Horse Guards Road, London, SW1A 2HQ or at https://publications.parliament.uk/pa/bills/cbill/58-01/0200/FS%20Bill%20Impact%20Assessment%20-%20October%202020%20-%20201020.pdf .

NOTE AS TO EARLIER COMMENCEMENT REGULATIONS

(This note is not part of the Regulations)

Provision

Date of Commencement

S.I. No.

Section 1

1st January 2022

2021/671

Section 2

1st July 2021

2021/671

Section 3

9th June 2021

2021/671

Section 4

9th June 2021

2021/671

Section 5

9th June 2021

2021/671

Section 7

26th June 2021

2021/671

Section 8

1st July 2021

2021/739

Section 9

1st July 2021

2021/739

Section 10

1st July 2021

2021/739

Section 11

1st July 2021

2021/739

Section 12

1st July 2021

2021/739

Section 13

1st July 2021

2021/739

Section 14

1st July 2021

2021/739

Section 15

1st July 2021

2021/739

Section 16

1st July 2021

2021/739

Section 17

1st July 2021

2021/739

Section 18

1st July 2021

2021/739

Section 19

1st July 2021

2021/739

Section 20

1st July 2021

2021/739

Section 21

1st July 2021

2021/739

Section 27

1st July 2021

2021/739

Section 28

1st July 2021

2021/739

Section 29

1st July 2021

2021/739

Section 31

1st November 2021

2021/1173

Section 34

1st July 2021

2021/739

Section 37

1st July 2021

2021/739

Section 38

1st July 2021

2021/739

Section 39

1st July 2021

2021/739

Section 40

1st July 2021

2021/739

Section 43

1st July 2021

2021/739

Schedule 1

1st January 2022

2021/671

Schedule 2

1st July 2021

2021/671

Schedule 3

9th June 2021

2021/671

Schedule 4 (partially)

26th June 2021

2021/671

Schedule 4 (remaining)

1st January 2022

2021/671

Schedule 5

1st July 2021

2021/739

Schedule 10

1st July 2021

2021/739

Schedule 11

1st July 2021

2021/739

Schedule 12 (partially)

28th June 2021

2021/739