Amendment of FSMA 2000
1.—(1) FSMA 2000 is amended as follows.
(2) Omit Part 8A (short selling)(1).
(3) In section 133 (proceedings before Tribunal: general provision)(2), in subsection (7A), omit paragraph (i).
(4) In section 139A (power of the FCA to give guidance)(3), in subsection (4), for “short selling regulation” substitute “Short Selling Regulations 2025.
(5) In section 391 (publication of notices)(4), in subsection (1ZB), omit paragraph (i).
(6) In section 392 (application of sections 393 and 392)(5)—
(a)in paragraph (a), omit “131H(1),”;
(b)in paragraph (b), omit “131H(4),”.
(7) In section 398 (misleading the FCA or PRA: residual cases)(6), in subsection (1A)(c), for “short selling regulation” substitute “Short Selling Regulations 2025”.
(8) In section 415B (consultation in relation to taking certain enforcement action)(7), in subsection (3), omit paragraph (d).
(9) In section 417 (definitions)(8), in subsection (1), omit the definition of “short selling regulation”.
(10) In Schedule 1ZA (the FCA: arrangements for discharging functions)(9), in paragraph 8(3)(c)(i), omit “131J,”.
Part 8A was inserted by section 8 of the Financial Services Act 2010 (c. 28) and amended by S.I. 2012/2554 and S.I. 2018/1321.
Section 133 was substituted by S.I. 2010/22 and subsection (7A) inserted by section 23(2)(c) of the Financial Services Act 2012 (c. 21).
Section 139A was substituted by section 24(1) of the Financial Services Act 2012 (c. 21). Subsection (4) was amended by S.I. 2016/680, S.I. 2019/632 (as amended by S.I. 2020/1301) and S.I. 2023/1424.
Subsection (1ZB) was substituted by section 37 of and Schedule 9 to the Financial Services Act 2012 (c. 21). There have been amendments to subsection (1ZB) but none is relevant.
The references to section 131H(1) and (4) in section 392(a) and (b) were inserted by section 24 of and Schedule 2 to the Financial Services Act 2010 (c. 28). There are other amendments to section 392 but none is relevant.
Subsection (1A) was inserted by S.I. 2013/1773. There are amendments to subsection (1A) but none is relevant.
Section 415B was inserted by section 37 of and Schedule 9 to the Financial Services Act 2012 (c. 21). There are amendments to section 415B but none is relevant.
Definition inserted by S.I. 2012/2554 and amended by S.I. 2019/632, S.I. 2020/1385 and S.I. 2023/1424.
Schedule 1ZA was substituted by section 6 of and Schedule 3 to the Financial Services Act 2012 (c. 21). Paragraph 8(3)(c)(i) was amended by section 4(6) and 35 of and Schedule 3 paragraph 16(b)(1) to the Financial Services (Banking Reform) Act 2013 (c. 33) and by section 25 of and Schedule 3 to the Financial Guidance and Claims Act 2018 (c. 10).