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Financial Services and Markets Act 2000

Financial Services and Markets Act 2000

2000 c.8 · 1248 provisions

An Act to make provision about the regulation of financial services and markets; to provide for the transfer of certain statutory functions relating to building societies, friendly societies, industrial and provident societies and certain other mutual societies; and for connected purposes.

Part I: The Regulator

Section 1: The Financial Services Authority.
Section 2: The Authority's general duties.
Section 3: Market confidence.
Section 3A: Financial stability
Section 4: Public awareness.
Section 5: The protection of consumers.
Section 6: The reduction of financial crime.
Section 6A: Enhancing public understanding of financial matters etc
Section 7: Duty of Authority to follow principles of good governance.
Section 8: The Authority's general duty to consult.
Section 9: The Practitioner Panel.
Section 10: The Consumer Panel.
Section 11: Duty to consider representations by the Panels.
Section 12: Reviews.
Section 13: Right to obtain documents and information.
Section 14: Cases in which the Treasury may arrange independent inquiries.
Section 15: Power to appoint person to hold an inquiry.
Section 16: Powers of appointed person and procedure.
Section 17: Conclusion of inquiry.
Section 18: Obstruction and contempt.

Part 1A: The Regulators

CHAPTER 1: The Financial Conduct Authority

Section 1A: The Financial Conduct Authority
Section 1B: The FCA's general duties
Section 1C: The consumer protection objective
Section 1D: The integrity objective
Section 1E: The competition objective
Section 1EB: Competitiveness and growth objective
Section 1F: Meaning of "relevant markets" in strategic objective
Section 1G: Meaning of "consumer"
Section 1H: Further interpretative provisions for sections 1B to 1G
Section 1I: Meaning of "the UK financial system"
Section 1IA: Modifications applying if core activity not regulated by PRA
Section 1J: Power to amend objectives
Section 1JA: Recommendations by Treasury in connection with general duties
Section 1K: Guidance about objectives
Section 1L: Supervision, monitoring and enforcement
Section 1M: The FCA's general duty to consult
Section 1MA: Composition of Panels
Section 1N: The FCA Practitioner Panel
Section 1O: The Smaller Business Practitioner Panel
Section 1P: The Markets Practitioner Panel
Section 1Q: The Consumer Panel
Section 1QA: The Listing Authority Advisory Panel
Section 1R: Duty to consider representations made by the Panels
Section 1RA: Statement of policy on panel appointments
Section 1RB: Requirements in connection with public consultations
Section 1S: Reviews
Section 1T: Right to obtain documents and information

CHAPTER 2: The Prudential Regulation Authority

Section 2A: The Prudential Regulation Authority
Section 2AB: Functions of the PRA
Section 2B: The PRA's general objective
Section 2C: Insurance objective
Section 2D: Power to provide for additional objectives
Section 2E: Strategy
Section 2F: Interpretation of references to objectives
Section 2G: Limit on effect of sections 2B to 2D
Section 2H: Secondary objectives and duty to have regard to regulatory principles
Section 2I: Guidance about objectives
Section 2J: Interpretation of Chapter 2
Section 2K: Arrangements for supervision of PRA-authorised persons
Section 2L: The PRA's general duty to consult
Section 2LA: Composition of Panels
Section 2M: The PRA Practitioner Panel
Section 2MA: The Insurance Practitioner Panel
Section 2N: Duty to consider representations
Section 2NA: Statement of policy on panel appointments
Section 2NB: Requirements in connection with public consultations
Section 2O: Reviews
Section 2P: Right to obtain documents and information

CHAPTER 3: Further provisions relating to FCA and PRA

Section 3A: Meaning of "regulator"
Section 3B: Regulatory principles to be applied by both regulators
Section 3C: Duty to follow principles of good governance
Section 3D: Duty of FCA and PRA to ensure co-ordinated exercise of functions
Section 3E: Memorandum of understanding
Section 3F: With-profits insurance policies
Section 3G: Power to establish boundary between FCA and PRA responsibilities
Section 3H: Parliamentary control of orders under section 3G
Section 3I: Power of PRA to require FCA to refrain from specified action
Section 3J: Power of PRA in relation to with-profits policies
Section 3K: Revocation of directions under section 3I or 3J
Section 3L: Further provisions about directions under section 3I or 3J
Section 3M: Directions relating to consolidated supervision of groups
Section 3N: Revocation of directions under section 3M
Section 3O: Further provisions about directions under section 3M
Section 3P: Consultation by regulator complying with direction
Section 3Q: Co-operation by FCA ... with Bank of England
Section 3R: Arrangements for provision of services
Section 3RA: Duty of FCA and PRA to review rules
Section 3RB: Statement of policy relating to review of rules
Section 3RC: Requirement to review specified rules
Section 3RD: Report on certain reviews
Section 3RE: Power of Treasury to require making of rules by regulations
Section 3S: The consumer financial education body
Section 3T: Interpretation

Part II: Regulated And Prohibited Activities

Section 19: The general prohibition.
Section 20: Authorised persons acting without permission.
Section 21: Restrictions on financial promotion.
Section 22: Regulated activities
Section 22A: Designation of activities requiring prudential regulation by PRA
Section 22B: Parliamentary control in relation to certain orders under section 22A
Section 23: Contravention of the general prohibition or section 20(1) or (1A).
Section 23A: Parliamentary control in relation to certain orders under section 23
Section 24: False claims to be authorised or exempt.
Section 25: Contravention of section 21.
Section 26: Agreements made by unauthorised persons.
Section 26A: Agreements relating to credit
Section 27: Agreements made through unauthorised persons.
Section 28: Agreements made unenforceable by section 26 or 27: general cases.
Section 28A: Credit-related agreements made unenforceable by section 26, 26A or 27
Section 28B: Decisions under section 28A: procedure
Section 29: Accepting deposits in breach of general prohibition.
Section 30: Enforceability of agreements resulting from unlawful communications.

Part III: Authorisation and Exemption

Section 31: Authorised persons.
Section 32: Partnerships and unincorporated associations.
Section 33: Withdrawal of authorisation ....
Section 34: EEA firms.
Section 35: Treaty firms.
Section 36: Authorised open-ended investment companies
Section 37: Exercise of EEA rights by UK firms.
Section 38: Exemption orders.
Section 39: Exemption of appointed representatives.
Section 39A: Certain tied agents operating outside United Kingdom

Part IV: Permission to Carry on Regulated Activities

Section 40: Application for permission.
Section 41: The threshold conditions.
Section 42: Giving permission.
Section 43: Imposition of requirements.
Section 44: Variation etc. at request of authorised person.
Section 45: Variation etc. on the Authority's own initiative.
Section 46: Variation of permission on acquisition of control.
Section 47: Exercise of power in support of overseas regulator.
Section 48: Prohibitions and restrictions.
Section 49: Persons connected with an applicant.
Section 50: Authority's duty to consider other permissions etc.
Section 51: Applications under this Part.
Section 52: Determination of applications.
Section 53: Exercise of own-initiative power: procedure.
Section 54: Cancellation of Part IV permission: procedure.
Section 54A: Notification of ESMA
Section 54B: Notification of EBA
Section 55: Right to refer matters to the Tribunal.

Part 4A: Permission to carry on regulated activities

Section 55A: Application for permission
Section 55B: The threshold conditions
Section 55C: Power to amend Schedule 6
Section 55D: Firms based outside the United Kingdom
Section 55E: Giving permission: the FCA
Section 55F: Giving permission: the PRA
Section 55G: Giving permission: special cases
Section 55H: Variation by FCA at request of authorised person
Section 55I: Variation by PRA at request of authorised person
Section 55J: Variation or cancellation on initiative of regulator
Section 55JA: Variation or cancellation on initiative of FCA: additional power
Section 55K: Investment firms: particular conditions that enable cancellation
Section 55KA: Insurance undertakings, reinsurance undertakings and third-country insurance undertakings: particular conditions that enable cancellation
Section 55L: Imposition of requirements by FCA
Section 55M: Imposition of requirements by PRA
Section 55N: Requirements under section 55L or 55M: further provisions
Section 55NA: General requirement relating to financial promotion approval
Section 55NB: Section 55NA: power to provide for exemptions
Section 55O: Imposition of requirements on acquisition of control
Section 55P: Prohibitions and restrictions
Section 55PA: Assets requirements imposed on insurance undertakings or reinsurance undertakings
Section 55PB: Requirements relating to general meetings
Section 55Q: Exercise of power in support of overseas regulator
Section 55R: Persons connected with an applicant
Section 55S: Duty of FCA or PRA to consider other permissions
Section 55T: Persons whose interests are protected
Section 55U: Applications under this Part
Section 55V: Determination of applications
Section 55W: Applications under this Part: communications between regulators
Section 55X: Determination of applications: warning notices and decision notices
Section 55XA: Applications relating to administering a benchmark
Section 55Y: Exercise of own-initiative power: procedure
Section 55Z: Cancellation of Part 4A permission or permission under section 55NA: procedure
Section 55Z1: Notification of ESMA
Section 55Z2: Notification of EBA
Section 55Z2A: Notification of the European bodies
Section 55Z3: Right to refer matters to the Tribunal
Section 55Z4: Interpretation of Part 4A

Part V: Performance of Regulated Activities

Section 56: Prohibition orders.
Section 57: Prohibition orders: procedure and right to refer to Tribunal.
Section 58: Applications relating to prohibitions: procedure and right to refer to Tribunal.
Section 59: Approval for particular arrangements.
Section 59ZA: Senior management functions
Section 59ZB: Designated senior management functions
Section 59A: Specifying functions as controlled functions: supplementary
Section 59AB: Specifying functions as controlled functions: transitional provision
Section 59B: Role of FCA in relation to PRA decisions
Section 60: Applications for approval.
Section 60A: Vetting of candidates by ... authorised persons
Section 61: Determination of applications.
Section 62: Applications for approval: procedure and right to refer to Tribunal.
Section 62A: Changes in responsibilities of senior managers
Section 63: Withdrawal of approval.
Section 63ZA: Variation of senior manager's approval at request of ... authorised person
Section 63ZB: Variation of senior manager's approval on initiative of regulator
Section 63ZC: Exercise of power under section 63ZB: procedure
Section 63ZD: Statement of policy relating to conditional approval and variation
Section 63ZE: Statement of policy: procedure
Section 63A: Power to impose penalties
Section 63B: Procedure and right to refer to Tribunal
Section 63C: Statement of policy
Section 63D: Statement of policy: procedure
Section 63E: Certification of employees by ... authorised persons
Section 63F: Issuing of certificates
Section 64: Conduct: statements and codes.
Section 65: Statements and codes: procedure.
Section 64A: Rules of conduct
Section 64B: Rules of conduct: responsibilities of ... authorised persons
Section 64C: Requirement for ... authorised persons to notify regulator of disciplinary action
Section 66: Disciplinary powers.
Section 66A: Misconduct: action by the FCA
Section 66B: Misconduct: action by the PRA
Section 67: Disciplinary measures: procedure and right to refer to Tribunal.
Section 68: Publication.
Section 69: Statement of policy.
Section 70: Statements of policy: procedure.
Section 71: Actions for damages.
Section 71A: Meaning of "relevant authorised person"
Section 71B: Removal of directors and senior executives
Section 71C: Temporary manager
Section 71D: Sections 71B and 71C: conditions
Section 71E: Temporary manager: further provisions in relation to the appointment
Section 71F: Temporary manager: instrument of appointment
Section 71G: Right to refer matters to the Tribunal
Section 71H: Removal of directors and senior executives and appointment of temporary manager: procedure
Section 71I: Sections 71B to 71H: interpretation

Part 5A: Designated activities

CHAPTER 1: GENERAL PROVISIONS

Section 71K: Designated activities
Section 71L: Restrictions on carrying on of designated activities
Section 71M: Designated activity regulations: general
Section 71N: Designated activities: rules
Section 71O: Designated activities: directions
Section 71P: Designated activities: liability
Section 71Q: Designated activities: enforcement
Section 71R: Designated activities and rules: connected amendments
Section 71S: Designated activities regulations: Parliamentary control

CHAPTER 2: PROVISIONS RELATING TO PARTICULAR DESIGNATED ACTIVITIES

Section 71T: Meaning of "relevant designated activity" and "relevant Part 5A requirement"
Section 71U: Meaning of "relevant Part 5A direction" for purposes of this Chapter
Section 71V: Procedure for giving, varying or revoking relevant Part 5A direction
Section 71W: Application for variation or revocation of relevant Part 5A direction
Section 71X: Determination of application under section 71W
Section 71Y: Relevant Part 5A direction: right to refer to Tribunal

Part VI: Official Listing

Section 72: The competent authority.
Section 73: General duty of the competent authority.
Section 73A: Part 6 Rules
Section 74: The official list.
Section 75: Applications for listing.
Section 76: Decision on application.
Section 77: Discontinuance and suspension of listing.
Section 78: Discontinuance or suspension: procedure.
Section 78A: Discontinuance or suspension at the request of the issuer: procedure
Section 79: Listing particulars and other documents.
Section 80: General duty of disclosure in listing particulars.
Section 81: Supplementary listing particulars.
Section 82: Exemptions from disclosure.
Section 83: Registration of listing particulars.
Section 84: Matters which may be dealt with by prospectus rules
Section 85: Contravention of prohibition relating to public offer of securities
Section 86: Exempt offers to the public and admissions to trading
Section 87: Election to have prospectus
Section 87A: Criteria for approval of prospectus by FCA
Section 87B: Exemptions from disclosure
Section 87C: Consideration of application for approval
Section 87D: Procedure for decision to refuse an application for approval
Section 87E: Transfer by FCA of application for approval
Section 87F: Transfer to FCA of application for approval
Section 87FA: Final terms
Section 87FB: Communication of final terms by FCA
Section 87G: Supplementary prospectus
Section 87H: Prospectus approved in another EEA State
Section 87I: Provision of information to host Member State
Section 87J: Requirements imposed as condition of approval
Section 87JA: Power to suspend scrutiny of prospectus
Section 87JB: Power to refuse approval of a prospectus
Section 87K: Power to suspend , restrict or prohibit offer to the public
Section 87L: Power to suspend , restrict or prohibit admission to trading on a regulated market
Section 87LA: Power of FCA to suspend or prohibit trading on a trading facility
Section 87M: Public censure of issuer
Section 87N: Right to refer matters to the Tribunal
Section 87O: Procedure under sections 87JA, 87K, 87L and 87LA
Section 87P: Exercise of powers at request of competent authority of another EEA State
Section 87Q: Right of investor to withdraw
Section 87R: Register of investors
Section 88: Sponsors.
Section 89: Public censure of sponsor.
Section 88A: Disciplinary powers: contravention of s.88(3)(c) or (e)
Section 88B: Action under s.88A: procedure and right to refer to Tribunal
Section 88C: Action under s.88A: statement of policy
Section 88D: Statement of policy under s.88C: procedure
Section 88E: Powers exercisable to advance operational objectives
Section 88F: Action under s.88E: procedure
Section 89A: Transparency rules
Section 89B: Provision of voteholder information
Section 89C: Provision of information by issuers of transferable securities
Section 89D: Notification of voting rights held by issuer
Section 89E: Notification of proposed amendment of issuer's constitution
Section 89F: Transparency rules: interpretation etc
Section 89G: Transparency rules: other supplementary provisions
Section 89H: FCA's power to call for information
Section 89I: Requirements in connection with call for information
Section 89J: Power to call for information: supplementary provisions
Section 89K: Public censure of issuer
Section 89L: Power to suspend or prohibit trading of securities
Section 89M: Procedure under section 89L
Section 89N: Right to refer matters to the Tribunal
Section 89NA: Voting rights suspension orders
Section 89O: Corporate governance rules
Section 89P: Primary information providers
Section 89Q: Disciplinary powers: contravention of s.89P(4)(b) or (d)
Section 89R: Action under s.89Q: procedure and right to refer to Tribunal
Section 89S: Action under s.89Q: statement of policy
Section 89T: Statement of policy under s.89S: procedure
Section 89U: Powers exercisable to advance operational objectives
Section 89V: Action under s.89U: procedure
Section 89W: Storage of regulated information
Section 90: Compensation for statements in listing particulars ...
Section 90ZA: Liability for key investor information
Section 90A: Liability of issuers in connection with published information
Section 90B: Power to make further provision about liability for published information
Section 91: Penalties for breach of Part 6 rules
Section 92: Procedure.
Section 93: Statement of policy.
Section 94: Statements of policy: procedure.
Section 95: Competition scrutiny.
Section 96: Obligations of issuers of listed securities.
Section 96A: Disclosure of information requirements
Section 96B: Disclosure rules: persons responsible for compliance
Section 96C: Suspension of trading
Section 97: Appointment by FCA of persons to carry out investigations.
Section 97A: Reporting of infringements
Section 98: Advertisements etc. in connection with listing applications.
Section 99: Fees.
Section 100: Penalties.
Section 100A: Exercise of powers where UK is host member state
Section 101: Listing rules: general provisions.
Section 102: Exemption from liability in damages.
Section 102A: Meaning of "securities" etc.
Section 102B: Meaning of "offer of transferable securities to the public" etc.
Section 102C: Meaning of "home State" in relation to transferable securities
Section 103: Interpretation of this Part

Part VII: Control of Business Transfers

Section 103A: Meaning of "the appropriate regulator"
Section 104: Control of business transfers.
Section 105: Insurance business transfer schemes.
Section 106: Banking business transfer schemes.
Section 106A: Reclaim fund business transfer scheme
Section 106B: Ring-fencing transfer scheme
Section 107: Application for order sanctioning transfer scheme.
Section 108: Requirements on applicants.
Section 109: Scheme reports: insurance business transfer schemes
Section 109A: Scheme reports: ring-fencing transfer schemes
Section 110: Right to participate in proceedings.
Section 111: Sanction of the court for business transfer schemes.
Section 112: Effect of order sanctioning business transfer scheme.
Section 112ZA: Duty of regulator to provide copy of order
Section 112A: Rights to terminate etc.
Section 113: Appointment of actuary in relation to reduction of benefits.
Section 114: Rights of certain policyholders.
Section 114A: Notice of transfer of reinsurance contracts
Section 115: Certificates for purposes of insurance business transfers overseas.
Section 116: Effect of insurance business transfers authorised in other EEA States.
Section 117: Power to modify this Part.

Part VIII: Provisions relating to market abuse

Section 118: Market abuse.
Section 118A: Supplementary provision about certain behaviour
Section 118B: Insiders
Section 118C: Inside information
Section 119: The code.
Section 120: Provisions included in the FCA's code by reference to the City Code.
Section 121: Codes: procedure.
Section 122: Effect of the code.
Section 122A: Power to require information from issuers
Section 122B: General power to require information
Section 122C: Power to require information: supplementary
Section 122D: Entry of premises under warrant
Section 122E: Retention of documents taken under section 122D
Section 122F: Offences
Section 122G: Publication of information and corrective statements by issuers
Section 122H: Publication of corrective statements generally
Section 122HA: Publication of corrective statements relating to benchmarks
Section 122I: Power to suspend trading in financial instruments
Section 122IA: Power to suspend auctioning of auctioned products on a recognised auction platform
Section 123: Power to impose penalties or issue censure
Section 123A: Power to prohibit individuals from managing or dealing
Section 123B: Suspending permission to carry on regulated activities etc
Section 123C: Exercise of administrative sanctions
Section 124: Statement of policy.
Section 125: Statement of policy: procedure.
Section 126: Warning notices.
Section 127: Decision notices and right to refer to Tribunal.
Section 127A: Consultation with the PRA in relation to administrative sanctions
Section 128: Suspension of investigations.
Section 129: Power of court to impose administrative sanctions in cases of market abuse
Section 130: Guidance.
Section 130A: Interpretation and supplementary provision
Section 131: Effect on transactions.
Section 131A: Protected Disclosures
Section 131AA: Reporting of infringements
Section 131AB: Interpretation
Section 131AC: Meaning of "persons closely associated" in the market abuse regulation
Section 131AD: Individual liability in respect of legal persons under Articles 8 and 12 of the market abuse regulation
Section 131AE: Liability for contraventions of Article 14 or 15 of the market abuse regulation

Part 8A: Short selling

Section 131B: Short selling rules
Section 131C: Short selling rules: definitions etc
Section 131D: Short selling rules: procedure in urgent cases
Section 131E: Power to require information
Section 131F: Power to require information: supplementary
Section 131FA: Investigations in support of overseas regulator
Section 131FB: Entry of premises under warrant
Section 131FC: Retention of documents taken under section 131FB
Section 131G: Power to impose penalty or issue censure
Section 131H: Procedure and right to refer to Tribunal
Section 131I: Duty on publication of statement
Section 131J: Imposition of penalties under section 131G: statement of policy
Section 131K: Statement of policy: procedure
Section 131L: Offences

Part 8B: Cash access services

Section 131M: Overview
Section 131N: Cash access services and coordination arrangements
Section 131O: Current accounts and relevant current account providers
Section 131P: Cash access policy statement
Section 131Q: Provision of reports to assist the Treasury
Section 131R: Designation
Section 131S: Designation criteria
Section 131T: Cancellation or variation of a designation notice
Section 131U: Purpose for which FCA must exercise functions under this Part
Section 131V: FCA rules
Section 131W: Power to direct designated persons
Section 131X: Procedure for directions
Section 131Y: Information gathering and investigations
Section 131Z: Disciplinary measures
Section 131Z1: Costs of supervision
Section 131Z2: Exclusion and modification of other FCA duties

Part IX: Hearings and Appeals

Section 132: The Financial Services and Markets Tribunal.
Section 133: Proceedings before Tribunal: general provision
Section 133A: Proceedings before Tribunal: decision and supervisory notices, etc.
Section 133B: Offences
Section 134: Legal assistance scheme.
Section 135: Provisions of the legal assistance scheme.
Section 136: Funding of the legal assistance scheme.
Section 137: Appeal on a point of law.

Part 9A: Rules and Guidance

CHAPTER 1: Rule-making powers

Section 137A: The FCA's general rules
Section 137AA: The FCA's general rules: Gibraltar
Section 137B: FCA general rules: clients' money, right to rescind etc.
Section 137C: FCA general rules: cost of credit and duration of credit agreements
Section 137D: FCA general rules: product intervention
Section 137E: Orders under s.137D(1)(b)
Section 137F: Rules requiring participation in benchmark
Section 137FA: FCA general rules: disclosure of information about pension scheme transaction costs etc
Section 137FAA: FCA general rules: pensions dashboards
Section 137FAB: Pensions dashboards: further provision
Section 137FAC: Sections 137FAA and 137FAB: supplementary
Section 137FB: FCA general rules: disclosure of information about the availability of pensions guidance
Section 137FBA: FCA general rules: advice about transferring or otherwise dealing with annuity payments
Section 137FBB: FCA general rules: early exit pension charges
Section 137FC: FCA rules: disclosure of information about the availability of financial guidance
Section 137FD: FCA general rules: charges for claims management services
Section 137G: The PRA's general rules
Section 137GA: The PRA's general rules: Gibraltar
Section 137H: General rules about remuneration
Section 137I: Remuneration policies: Treasury direction to consider compliance
Section 137J: Rules about recovery plans: duty to consult
Section 137K: Rules about resolution packs: duty to consult
Section 137L: Interpretation of sections 137J and 137K
Section 137M: Special provision relating to adequacy of resolution plans
Section 137N: Recovery plans and resolution packs: restriction on duty of confidence
Section 137O: Threshold condition code
Section 137P: Control of information rules
Section 137Q: Price stabilising rules
Section 137R: Financial promotion rules
Section 137S: Financial promotion rules: directions given by FCA
Section 137SA: Rules to recover expenses relating to the Money and Pensions Service
Section 137SB: Rules to recover debt advice expenses incurred by the devolved authorities
Section 137T: General supplementary powers

CHAPTER 2: Rules: modification, waiver, contravention and procedural provisions

Section 138A: Modification or waiver of rules
Section 138B: Publication of directions under section 138A
Section 138BA: Disapplication or modification of rules in individual cases
Section 138C: Evidential provisions
Section 138D: Actions for damages
Section 138E: Limits on effect of contravening rules
Section 138EA: Matters to consider when making rules
Section 138F: Notification of rules
Section 138G: Rule-making instruments
Section 138H: Verification of rules
Section 138I: Consultation by the FCA
Section 138IA: FCA Cost Benefit Analysis Panel
Section 138IB: Statement of policy in relation to cost benefit analyses
Section 138J: Consultation by the PRA
Section 138JA: PRA Cost Benefit Analysis Panel
Section 138JB: Statement of policy in relation to cost benefit analyses
Section 138K: Consultation: mutual societies
Section 138L: Consultation: general exemptions
Section 138M: Consultation: exemptions for temporary product intervention rules
Section 138N: Temporary product intervention rules: statement of policy
Section 138O: Statement of policy under section 138N: procedure

CHAPTER 2A: Technical Standards

Section 138P: Technical standards
Section 138Q: Standards instruments
Section 138R: Treasury approval
Section 138S: Application of Chapters 1 and 2

CHAPTER 3: Guidance

Section 139A: Power of the FCA to give guidance
Section 139B: Notification of FCA guidance to the Treasury

CHAPTER 4: Competition scrutiny

Section 140A: Interpretation
Section 140B: Advice about effect of regulating provision or practice
Section 140C: Consultation with regulator
Section 140D: Investigation powers of CMA
Section 140E: Publication by CMA of section 140B advice
Section 140F: Duty of CMA to send report to regulator
Section 140G: Duty of regulator to publish response
Section 140H: Role of the Treasury

CHAPTER 5: Power to make consequential amendments

Section 141A: Power to make consequential amendments of references to rules etc.
Section 141B: Power to consequentially amend enactments

Part 9B: Ring-fencing

Section 142A: "Ring-fenced body"
Section 142B: Core activities
Section 142C: Core services
Section 142D: Excluded activities
Section 142E: Power of Treasury to impose prohibitions
Section 142F: Orders under section 142A, 142B, 142D or 142E
Section 142G: Ring-fenced bodies not to carry on excluded activities or contravene prohibitions
Section 142H: Ring-fencing rules
Section 142I: Powers of Treasury in relation to ring-fencing rules
Section 142J: Review of ring-fencing rules etc
Section 142K: Cases in which group restructuring powers become exercisable
Section 142L: Group restructuring powers
Section 142M: Procedure: preliminary notices
Section 142N: Procedure: warning notice and decision notice
Section 142O: References to Tribunal
Section 142P: Subsequent variation of requirement or direction
Section 142Q: Consultation etc. between regulators
Section 142R: Relationship with regulators' powers under Parts 4A and 12A
Section 142S: Power to impose penalty or issue censure
Section 142T: Procedure and right to refer to Tribunal
Section 142U: Duty on publication of statement
Section 142V: Imposition of penalties under section 142S: statement of policy
Section 142W: Pension liabilities
Section 142X: Further interpretative provisions for section 142W
Section 142Y: Power of Treasury in relation to loss-absorbency requirements
Section 142Z: Affirmative procedure in relation to certain orders under Part 9B
Section 142Z1: Interpretation of Part 9B

Part 9C: Prudential regulation of FCA investment firms

Section 143A: FCA investment firms
Section 143B: Other terms used in this Part
Section 143C: Duty to make rules applying to FCA investment firms
Section 143D: Duty to make rules applying to parent undertakings
Section 143E: Powers to make rules applying to parent undertakings
Section 143F: Part 9C rules
Section 143G: Matters to consider when making Part 9C rules
Section 143H: Explanation to accompany consultation on rules
Section 143I: Exceptions from sections 143G and 143H
Section 143J: Requirement to have UK parent undertaking
Section 143K: Imposition of requirements on non-authorised parent undertakings
Section 143L: Applications under section 143K
Section 143M: Determination of applications under section 143K
Section 143N: Refusal of applications under section 143K
Section 143O: Exercise of own-initiative power under section 143K
Section 143P: Right to refer matters to the Tribunal
Section 143Q: Assets requirements
Section 143R: Managers of non-authorised parent undertakings
Section 143S: Part 9C prohibition orders
Section 143T: Procedure for making a Part 9C prohibition order
Section 143U: Varying and withdrawing a Part 9C prohibition order
Section 143V: Offence of breaching a Part 9C prohibition order
Section 143W: Disciplinary measures
Section 143X: Procedure for disciplinary measures
Section 143Y: Statement of policy for penalties under section 143W
Section 143Z: Procedure for statement of policy

Part 9D: Prudential regulation of credit institutions etc

Section 144A: CRR rules
Section 144B: Terms used in this Part
Section 144C: Matters to consider when making CRR rules
Section 144D: Explanation to accompany consultation on CRR rules
Section 144E: Exceptions from sections 144C and 144D etc
Section 144F: Power to consequentially amend enactments
Section 144G: Disapplication or modification of CRR rules in individual cases
Section 144H: Relationship with the capital requirements regulation

Part X: Rules and Guidance

Chapter I: Rule-making Powers

Section 138: General rule-making power.
Section 139: Miscellaneous ancillary matters.
Section 139A: General rules about remuneration
Section 139B: Rules about recovery plans
Section 139C: Rules about resolution plans
Section 139D: Sections 139B and 139C: interpretation
Section 139E: Rules about recovery and resolution plans: supplementary provision
Section 139F: Special provision in relation to resolution plans
Section 140: Restriction on managers of certain collective investment schemes.
Section 141: Insurance business rules.
Section 142: Insurance business: regulations supplementing Authority's rules.
Section 143: Endorsement of codes etc.
Section 144: Price stabilising rules.
Section 145: Financial promotion rules.
Section 146: Money laundering rules.
Section 147: Control of information rules.
Section 148: Modification or waiver of rules.
Section 149: Evidential provisions.
Section 150: Actions for damages.
Section 151: Limits on effect of contravening rules.
Section 152: Notification of rules to the Treasury.
Section 153: Rule-making instruments.
Section 154: Verification of rules.
Section 155: Consultation.
Section 156: General supplementary powers.

Chapter II: Guidance

Section 157: Guidance.
Section 158: Notification of guidance to the Treasury.
Section 158A: Guidance on outsourcing by investment firms and credit institutions

Chapter III: Competition Scrutiny

Section 159: Interpretation.
Section 160: Reports by OFT.
Section 161: Power of OFT to request information.
Section 162: Consideration by Competition Commission.
Section 163: Role of the Treasury.
Section 164: The Competition Act 1998.

Part XI: Information Gathering and Investigations

Section 165: Regulators power to require information : authorised persons etc.
Section 165A: PRA's power to require information: financial stability
Section 165B: Safeguards etc in relation to exercise of power under section 165A
Section 165C: Orders under section 165A(2)(d)
Section 166: Reports by skilled persons.
Section 166A: Appointment of skilled person to collect and update information
Section 167: Appointment of persons to carry out general investigations.
Section 168: Appointment of persons to carry out investigations in particular cases.
Section 169: Investigations etc. in support of overseas regulator.
Section 169A: Support of overseas regulator with respect to financial stability
Section 170: Investigations: general.
Section 171: Powers of persons appointed under section 167.
Section 172: Additional power of persons appointed as a result of section 168(1) , (4) or (4B).
Section 173: Powers of persons appointed as a result of section 168(2).
Section 174: Admissibility of statements made to investigators.
Section 175: Information and documents: supplemental provisions.
Section 176: Entry of premises under warrant.
Section 176A: Retention of documents taken under section 176
Section 177: Offences.
Section 177A: Interpretation of Part 11

Part XII: Control Over Authorised Persons

Section 178: Obligation to notify the appropriate regulator: acquisitions of control
Section 179: Requirements for section 178 notices
Section 180: Acknowledgment of receipt
Section 181: Acquiring control
Section 182: Increasing control
Section 183: Reducing or ceasing to have control
Section 184: Disregarded holdings
Section 185: Assessment: general
Section 186: Assessment criteria
Section 187: Approval with conditions
Section 187A: Assessment: consultation by PRA with FCA
Section 187B: Assessment: consultation by FCA with PRA
Section 187C: Variation etc of conditions
Section 188: Assessment: consultation with EC competent authorities
Section 189: Assessment: Procedure
Section 190: Requests for further information
Section 190A: Assessment and resolution
Section 191: Duration of approval
Section 191A: Objection by the appropriate regulator
Section 191B: Restriction notices
Section 191C: Orders for sale of shares
Section 191D: Obligation to notify the appropriate regulator: dispositions of control
Section 191E: Requirements for notices under section 191D
Section 191F: Offences under this Part
Section 191G: Interpretation
Section 192: Power to change definitions of control etc.

Part 12A: Powers exercisable in relation to parent undertakings

Section 192A: Meaning of "qualifying authorised person"
Section 192B: Meaning of "qualifying parent undertaking"
Section 192C: Power to direct qualifying parent undertaking
Section 192D: Requirements that may be imposed
Section 192E: Direction: procedure
Section 192F: Consultation between regulators
Section 192G: References to Tribunal
Section 192H: Statement of policy: directions under section 192C
Section 192I: Statement of policy relating to directions: procedure
Section 192J: Rules requiring provision of information by parent undertakings
Section 192JA: Rules applying to parent undertakings of ring-fenced bodies
Section 192JB: Rules requiring parent undertakings to facilitate resolution
Section 192K: Power to impose penalty or issue censure
Section 192L: Procedure and right to refer to Tribunal
Section 192M: Duty on publication of statement
Section 192N: Imposition of penalties under section 192K: statement of policy

Part 12B: Approval of certain holding companies

Section 192Y: Power to impose penalty or issue censure
Section 192Z: Procedure and right to refer to Tribunal
Section 192Z1: Duty on publication of statement
Section 192Z2: Directions and penalties: statement of policy
Section 192Z3: Statement of policy relating to directions: procedure
Section 192O: Interpretation
Section 192P: Requirement for approval
Section 192Q: Application for approval or exemption
Section 192R: Grant of approval
Section 192S: Regulator's duty to monitor
Section 192T: Measures
Section 192U: Directions: procedure
Section 192V: Rules imposing consolidated or sub-consolidated requirements
Section 192W: Consultation between regulators
Section 192X: References to Tribunal
Section 192XA: Rules applying to holding companies
Section 192XB: Procedural provision
Section 192XC: Disapplication or modification of rules in individual cases

Part XIII: Incoming Firms: Intervention by FCA or PRA

Section 193: Interpretation of this Part.
Section 194: General grounds on which power of intervention is exercisable.
Section 194A: Contravention by relevant EEA firm with UK branch of requirement under markets in financial instruments directive: appropriate regulator primarily responsible for securing compliance
Section 194B: Contravention by relevant EEA firm of requirement in capital requirements directive or capital requirements regulation
Section 194C: Contravention by relevant EEA firm with UK branch of requirement in mortgages directive: appropriate regulator primarily responsible for securing compliance
Section 194D: Contravention by relevant EEA firm of requirement in insurance distribution directive: appropriate regulator primarily responsible for securing compliance
Section 195: Exercise of power in support of overseas regulator.
Section 195A: Contravention by relevant EEA firm , EEAUCITS or EEAAIFM of directive requirements: home state regulator primarily responsible for securing compliance
Section 195B: Contravention by relevant EEA firm of requirement in mortgages directive: home state regulator primarily responsible for securing compliance
Section 195C: Contravention by relevant EEA firm of requirement in insurance distribution directive: home state regulator primarily responsible for securing compliance
Section 196: The power of intervention.
Section 197: Procedure on exercise of power of intervention.
Section 198: Power to apply to court for injunction in respect of certain overseas insurance companies.
Section 199: Additional procedure for EEA firms in certain cases.
Section 199A: Management companies: loss of authorisation
Section 200: Rescission and variation of requirements.
Section 201: Effect of certain requirements on other persons
Section 202: Contravention of requirement imposed under this Part.
Section 203: Power to prohibit the carrying on of Consumer Credit Act business.
Section 204: Power to restrict the carrying on of Consumer Credit Act business.

Part 13A: Enhanced supervision of firms exercising rights under the Insurance Distribution Directive

Section 203A: Insurance distribution directive: enhanced supervision of EEA firms by UK regulators
Section 203B: Insurance distribution directive: enhanced supervision of UK firms by an EEA regulator
Section 203C: Modification or waiver of rules where firm subject to enhanced supervision
Section 203D: Publication of directions under section 203C

Part XIV: Disciplinary Measures

Section 204A: Meaning of "relevant requirement" and "appropriate regulator"
Section 205: Public censure.
Section 206: Financial penalties.
Section 206A: Suspending permission to carry on regulated activities etc
Section 206B: Prohibition or restriction on carrying on of relevant designated activities
Section 207: Proposal to take disciplinary measures.
Section 208: Decision notice.
Section 208A: Applications under section 206B(4): procedure and right to refer to Tribunal
Section 209: Publication.
Section 210: Statements of policy.
Section 211: Statements of policy: procedure.

Part XV: The Financial Services Compensation Scheme

Section 212: The scheme manager.
Section 213: The compensation scheme.
Section 214: General.
Section 214A: Contingency funding
Section 214B: Contribution to costs of special resolution regime
Section 214C: Limit on amount of special resolution regime payments
Section 214D: Contributions under section 214B: supplementary
Section 214E: Recapitalisation payments
Section 214F: Recapitalisation payment: report
Section 214G: Notification to Parliamentary Committees
Section 214H: Reimbursement in respect of a recapitalisation payment
Section 215: Rights of the scheme in insolvency
Section 215A: Continuity etc. of funeral plan contracts
Section 215B: Scheme manager's power to require assistance from liquidator etc. in relation to funeral plan contracts
Section 216: Continuity of long-term insurance policies.
Section 217: Insurers in financial difficulties.
Section 217ZA: Insurers subject to write-down orders
Section 217ZB: Recovery of financial assistance under section 217ZA
Section 217A: Co-operation
Section 217B: Annual plan
Section 218: Annual report.
Section 218ZA: Audit of accounts
Section 218A: Regulators' power to require information
Section 218B: Treasury's power to require information from scheme manager
Section 219: Scheme manager's power to require information.
Section 220: Scheme manager's power to inspect information held by liquidator etc.
Section 220A: Power to inspect information held by write-down manager
Section 221: Powers of court where information required.
Section 221A: Delegation of functions
Section 222: Statutory immunity.
Section 223: Management expenses.
Section 223A: Investing in National Loans Fund
Section 223B: Borrowing from National Loans Fund
Section 223C: Payments in error
Section 224: Scheme manager's power to inspect documents held by Official Receiver etc.
Section 224ZA: Discharge of functions
Section 224A: Functions under the Banking Act 2009

Part 15A: Power to require FSCS manager to act in relation to other schemes

Section 224B: Meaning of "relevant scheme" etc
Section 224C: Power to require FSCS manager to act on behalf of manager of relevant scheme
Section 224D: Cases where FSCS manager may decline to act
Section 224E: Grounds for declining to act
Section 224F: Rules about relevant schemes

Part XVI: The Ombudsman Scheme

Section 225: The scheme and the scheme operator.
Section 226: Compulsory jurisdiction.
Section 226A: Consumer credit jurisdiction
Section 227: Voluntary jurisdiction.
Section 228: Determination under the compulsory jurisdiction.
Section 229: Awards.
Section 230: Costs.
Section 230A: Reports of determinations
Section 231: Ombudsman's power to require information.
Section 232: Powers of court where information required.
Section 232A: Scheme operator's duty to provide information to FCA
Section 233: Data protection.
Section 234: Industry funding.
Section 234A: Funding by consumer credit licensees etc.
Section 234B: Transfers of liability

Part 16A: Consumer protection and competition

Section 234C: Complaints by consumer bodies
Section 234D: Reference by scheme operator or regulated person
Section 234E: Response by FCA
Section 234F: Section 234E: exceptions
Section 234G: Guidance
Section 234H: Power of FCA to make request to Competition and Markets Authority
Section 234I: The FCA's functions under Part 4 of the Enterprise Act 2002
Section 234J: The FCA's functions under the Competition Act 1998
Section 234K: Duty to consider exercise of powers under Competition Act 1998
Section 234L: Provision of information and assistance to a CMA group
Section 234M: Function of keeping market under review
Section 234N: Exclusion of general duties
Section 234O: Supplementary provision

Part XVII: Collective Investment Schemes

Chapter I: Interpretation

Section 235: Collective investment schemes.
Section 235A: Contractual schemes
Section 236: Open-ended investment companies.
Section 236A: Meaning of "UCITS"
Section 237: Other definitions.

Chapter II: Restrictions on Promotion

Section 238: Restrictions on promotion.
Section 239: Single property schemes.
Section 240: Restriction on approval of promotion.
Section 241: Actions for damages.

CHAPTER 2A: PROHIBITION ON ISSUE OF BEARER UNITS

Section 241A: Bearer units no longer to be issued

Chapter III: Authorised Unit Trust Schemes

Section 242: Applications for authorisation of unit trust schemes.
Section 243: Authorisation orders : authorised unit trust schemes.
Section 243A: Authorisation orders: authorised money market funds
Section 244: Determination of applications.
Section 245: Procedure when refusing an application.
Section 246: Certificates.
Section 247: Trust scheme rules.
Section 248: Scheme particulars rules.
Section 249: Disciplinary measures
Section 250: Modification or waiver of rules.
Section 251: Alteration of schemes and changes of manager or trustee.
Section 252: Procedure when refusing approval of a proposal under section 251.
Section 252A: Proposal to convert to a non-feeder UCITS
Section 253: Avoidance of exclusion clauses.
Section 254: Revocation of authorisation order otherwise than by consent.
Section 255: Procedure.
Section 256: Requests for revocation of authorisation order.
Section 257: Directions.
Section 258: Applications to the court.
Section 258A: Winding up or merger of master UCITS
Section 259: Procedure on giving directions under section 257 or 258A and varying them on FCA's own initiative.
Section 260: Procedure: refusal to revoke or vary direction.
Section 261: Procedure: revocation of direction and grant of request for variation.
Section 261A: Information for home state regulator
Section 261B: Information for feeder UCITS

CHAPTER3A: AUTHORISED CONTRACTUAL SCHEMES

Section 261C: Applications for authorisation of contractual schemes
Section 261D: Authorisation orders : authorised contractual schemes
Section 261E: Authorised contractual schemes: holding of units
Section 261EA: Authorisation orders: authorised money market funds
Section 261F: Determination of applications
Section 261G: Procedure when refusing an application
Section 261H: Certificates
Section 261I: Contractual scheme rules
Section 261J: Contractual scheme particulars rules
Section 261K: Disciplinary measures
Section 261L: Modification or waiver of rules
Section 261M: Contracts
Section 261N: Effect of becoming or ceasing to be a participant
Section 261O: Limited liability
Section 261P: Segregated liability in relation to umbrella co-ownership schemes
Section 261Q: Alteration of contractual schemes and changes of operator or depositary
Section 261R: Procedure when refusing approval of a proposal under section 261Q
Section 261S: Proposal to convert to a non-feeder UCITS
Section 261T: Avoidance of exclusion clauses
Section 261U: Revocation of authorisation order otherwise than by consent
Section 261V: Procedure for revoking authorisation order
Section 261W: Requests for revocation of authorisation order
Section 261X: Directions
Section 261Y: Applications to the court
Section 261Z: Winding up or merger of master UCITS
Section 261Z1: Procedure on giving directions under section 261X or 261Z and varying them on FCA's own initiative
Section 261Z2: Procedure: refusal to revoke or vary direction
Section 261Z3: Procedure: revocation of direction and grant of request for variation
Section 261Z4: Information for home state regulator
Section 261Z5: Information for feeder UCITS

CHAPTER 3B: Unauthorised co-ownership AIFs

Section 261Z6: Power to make provision about unauthorised co-ownership AIFs

Chapter IV: Open-ended Investment Companies

Section 262: Open-ended investment companies.
Section 263: Amendment of section 716 Companies Act 1985.

Chapter V: Recognised Overseas Schemes

Section 264: Schemes constituted in other EEA States.
Section 265: Representations and references to the Tribunal.
Section 266: Disapplication of rules.
Section 267: Power of FCA to suspend promotion of scheme.
Section 268: Procedure on giving directions under section 267 and varying them on FCA's own initiative.
Section 269: Procedure on application for variation or revocation of direction.
Section 270: Schemes authorised in designated countries or territories.
Section 271: Procedure.
Section 271A: Schemes authorised in approved countries
Section 271B: Approval of country: equivalent protection afforded to participants
Section 271C: Approval of country: regulatory co-operation
Section 271D: Report by the FCA in relation to approval
Section 271E: Power to impose requirements on schemes
Section 271F: Application for recognition to the FCA
Section 271G: Determination of applications
Section 271H: Procedure when determining an application
Section 271I: Obligations on operator of a section 271A scheme
Section 271J: Provision of information to the FCA
Section 271K: Rules as to scheme particulars
Section 271L: Suspension of recognition
Section 271M: Procedure when suspending recognition
Section 271N: Revocation of recognition on the FCA's initiative
Section 271O: Requests for revocation of recognition
Section 271P: Obligations on operator where recognition is revoked or suspended
Section 271Q: Effect of variation or revocation of Treasury regulations
Section 271R: Public censure
Section 271S: Recognition of parts of schemes under section 271A
Section 272: Individually recognised overseas schemes.
Section 273: Matters that may be taken into account.
Section 274: Applications for recognition of individual schemes.
Section 275: Determination of applications.
Section 276: Procedure when refusing an application.
Section 277: Alteration of schemes and changes of operator, trustee or depositary.
Section 277A: Regular provision of information relating to compliance with requirements for recognition
Section 278: Rules as to scheme particulars.
Section 279: Revocation of recognition.
Section 280: Procedure.
Section 281: Directions.
Section 282: Procedure on giving directions under section 281 and varying them otherwise than as requested.
Section 282A: Obligations on operator where recognition is revoked or suspended
Section 282B: Public censure
Section 282C: Recognition of parts of schemes under section 272
Section 283: Facilities and information in UK.

CHAPTER 5A: MASTER-FEEDER STRUCTURES

Section 283A: Master-feeder structures
Section 283B: Reports on derivative instruments

Chapter VI: Investigations

Section 284: Power to investigate.

Part 17A: Transformer Vehicles

Section 284A: Transformer vehicles

Part XVIII: Recognised investment exchanges, clearing houses , CSDs and other parties

Chapter I: Exemption

Section 285: Exemption for recognised bodies etc.
Section 285A: Powers exercisable in relation to recognised bodies etc
Section 286: Qualification for recognition.
Section 287: Application by an investment exchange.
Section 287A: Application by an investment exchange: persons connected with an applicant
Section 288: Application by a clearing house.
Section 288A: Application by a central securities depository
Section 289: Applications: supplementary.
Section 290: Recognition orders.
Section 290ZA: Variation of central counterparty recognition order
Section 290ZB: Variation of CSD recognition order
Section 290A: Refusal of recognition on ground of excessive regulatory provision
Section 291: Liability in relation to recognised body's regulatory functions.
Section 292: Overseas investment exchanges and overseas clearing houses.
Section 292A: Publication of information by recognised investment exchange
Section 293: Notification requirements.
Section 293A: Information: compliance with specified requirements
Section 294: Modification or waiver of rules.
Section 295: Notification: overseas investment exchanges and overseas clearing houses.
Section 295A: On-site inspection of United Kingdom branches of third country CSDs
Section 296: Appropriate regulator's power to give directions.
Section 296A: Additional power to direct recognised central counterparties
Section 297: Revoking recognition.
Section 298: Directions and revocation: procedure.
Section 299: Complaints about recognised bodies.
Section 300: Extension of functions of Tribunal.
Section 300A: Power of appropriate regulator to disallow excessive regulatory provision
Section 300B: Duty to notify proposal to make regulatory provision
Section 300C: Restriction on making provision before appropriate regulator decides whether to act
Section 300D: Consideration by appropriate regulator whether to disallow proposed provision
Section 300E: Power to disallow excessive regulatory provision: supplementary
Section 300F: Rules relating to central counterparties and central securities depositories
Section 300G: Section 300F: rules in relation to overseas FMI entities
Section 300H: Rules relating to investment exchanges and data reporting service providers
Section 300I: Duty of Bank of England to review rules
Section 300J: Statement of policy relating to review of rules
Section 300K: Requirement to review specified rules
Section 300L: Report on certain reviews
Section 300M: Power of Treasury to require making of rules by regulations
Section 301: Supervision of certain contracts.

CHAPTER 1A: CONTROL OVER RECOGNISED INVESTMENT EXCHANGE

Section 301A: Obligation to notify the FCA: acquisitions of control
Section 301B: Requirements for section 301A notices
Section 301C: Acknowledgment of receipt
Section 301D: Acquiring and increasing control
Section 301E: Disregarded holdings
Section 301F: Assessment: general
Section 301G: Assessment: Procedure
Section 301H: Duration of approval
Section 301I: Objections by the FCA
Section 301J: Restriction notices
Section 301K: Orders for sale of shares
Section 301L: Offences under this Chapter
Section 301M: Interpretation

Chapter II: Competition Scrutiny

Section 302: Interpretation.
Section 303: Initial report by OFT.
Section 304: Further reports by OFT.
Section 305: Investigations by OFT.
Section 306: Consideration by Competition Commission.
Section 307: Recognition orders: role of the Treasury.
Section 308: Directions by the Treasury.
Section 309: Statements by the Treasury.
Section 310: Procedure on exercise of certain powers by the Treasury.

CHAPTER 2A: Performance of functions of recognised bodies

Section 309A: Recognised bodies to which this Chapter applies
Section 309B: Part 18 prohibition orders
Section 309C: Procedure for making Part 18 prohibition orders
Section 309D: Varying and withdrawing Part 18 prohibition orders
Section 309E: Offence of breaching prohibition
Section 309F: Duty in relation to prohibited individuals
Section 309G: Requirement for approval
Section 309H: Rules under section 309G(3): transitional provision
Section 309I: Applications for approval
Section 309J: Vetting by relevant recognised bodies
Section 309K: Determining applications: power to grant approval
Section 309L: Determining applications: period for approval
Section 309M: Determining applications: further procedure
Section 309N: Changes in responsibilities
Section 309O: Withdrawing approval
Section 309P: Procedure for withdrawing approval
Section 309Q: Varying approval at request of relevant recognised body
Section 309R: Varying approval on the appropriate regulator's initiative
Section 309S: Statement of policy on approval
Section 309T: Breach of statutory duty by relevant recognised bodies
Section 309U: Power to impose penalties
Section 309V: Procedure for imposing penalties
Section 309W: Statement of policy on penalties
Section 309X: Procedure for statement of policy on penalties
Section 309Y: Certification of employees by relevant recognised bodies
Section 309Z: Issuing certificates
Section 309Z1: Rules of conduct
Section 309Z2: Power to take disciplinary action for misconduct
Section 309Z3: Meaning of "misconduct"
Section 309Z4: Procedure for disciplinary action
Section 309Z5: Statement of policy about disciplinary action
Section 309Z6: Procedure for statement of policy about disciplinary action
Section 309Z7: Interpretation of Chapter 2A
Section 309Z8: Power to apply this Chapter to credit rating agencies

Chapter III: Exclusion from the Competition Act 1998

Section 311: The Chapter I prohibition.
Section 312: The Chapter II prohibition.

CHAPTER 3A: PASSPORT RIGHTS

Section 312A: Exercise of passport rights by EEA market operator
Section 312B: Removal of passport rights from EEA market operator
Section 312C: Exercise of passport rights by recognised investment exchange
Section 312D: Interpretation of Chapter 3A

CHAPTER 3B: Disciplinary measures in respect of recognised bodies

Section 312E: Public censure
Section 312F: Financial penalties
Section 312FA: Central securities depositories: further disciplinary measures
Section 312G: Proposal to take disciplinary measures
Section 312H: Decision notice
Section 312I: Publication
Section 312J: Statement of policy
Section 312K: Statement of policy: procedure

CHAPTER 3C: Critical third parties

Section 312L: Critical third parties
Section 312M: Power to make rules
Section 312N: Power of direction
Section 312O: Directions: procedure
Section 312P: Information gathering and investigations
Section 312Q: Power of censure
Section 312R: Disciplinary measures
Section 312S: Procedure and right to refer to Tribunal
Section 312T: Statement of policy relating to disciplinary measures
Section 312U: Duty to ensure co-ordinated exercise of functions etc
Section 312V: Memorandum of understanding
Section 312W: Application of provisions of this Act to this Chapter

Chapter IV:

Section 313: Interpretation of Part XVIII.

Part 18A: SUSPENSION AND REMOVAL OF FINANCIAL INSTRUMENTS FROM TRADING

Section 313A: FCA's power to require suspension or removal of financial instruments from trading
Section 313B: Suspension or removal of financial instruments from trading: procedure
Section 313BA: Procedure following consideration of representations
Section 313BB: Revocation of requirements: applications by institutions
Section 313BC: Decisions on applications for revocation by institutions
Section 313BD: Revocation of requirements: applications by issuers
Section 313BE: Decisions on applications for revocation by issuers
Section 313C: Notification in relation to suspension or removal of a financial instrument from trading
Section 313CA: Suspension or removal of financial instruments from trading: notification and trading on other venues
Section 313CB: Suspension or removal of a financial instrument from a trading by a trading venue: FCA duties
Section 313CBA: Significant damage to investors' interests or orderly functioning of market
Section 313CC: Suspension or removal of a financial instrument from trading in another EEA state: FCA duties
Section 313D: Interpretation of Part 18A

Part XIX: Lloyd's

Section 314: Regulators' general duty.
Section 314A: The PRA's objectives in relation to Lloyd's etc
Section 315: The Society: regulated activities
Section 316: Direction by a regulator
Section 317: The core provisions.
Section 318: Exercise of powers through Council.
Section 319: Consultation.
Section 320: Former underwriting members.
Section 321: Requirements imposed under section 320.
Section 322: Rules applicable to former underwriting members.
Section 323: Transfer schemes.
Section 324: Interpretation of this Part.

Part XX: Provision of Financial Services by Members of the Professions

Section 325: FCA's general duty.
Section 326: Designation of professional bodies.
Section 327: Exemption from the general prohibition.
Section 328: Directions in relation to the general prohibition.
Section 329: Orders in relation to the general prohibition.
Section 330: Consultation.
Section 331: Procedure on making or varying orders under section 329.
Section 332: Rules in relation to persons to whom the general prohibition does not apply.
Section 333: False claims to be a person to whom the general prohibition does not apply.

Part 20A: PENSIONS GUIDANCE

Section 333A: Introduction and definitions
Section 333B: Secretary of State's role in relation to pensions guidance
Section 333C: Giving of pensions guidance
Section 333D: Financial assistance to bodies involved in giving pensions guidance
Section 333E: Designation of providers of pensions guidance
Section 333F: Co-operation and information sharing
Section 333G: Offence of falsely claiming to be giving pensions guidance under arrangements made with Secretary of State
Section 333H: Standards for giving of pensions guidance by designated guidance providers
Section 333I: Monitoring of compliance with standards by designated guidance providers
Section 333J: Failure by designated guidance providers to comply with standards: FCA recommendations
Section 333K: FCA policy on making recommendations under section 333J
Section 333L: FCA policy on making recommendations under section 333J: procedure
Section 333M: Failure by designated guidance providers to comply with standards: ... directions
Section 333N: Directions to designated guidance providers under section 333M: relationship with power to revoke a designation
Section 333O: FCA's duties
Section 333P: Power of the FCA to give guidance
Section 333Q: Funding of FCA's pensions guidance costs
Section 333R: Funding of Secretary of State's pensions guidance costs

Part 20B: Illegal Money Lending

Section 333S: Financial assistance for action against illegal money lending
Section 333T: Funding of action against illegal money lending

Part XXI: Mutual Societies

Section 334: The Friendly Societies Commission.
Section 335: The Registry of Friendly Societies.
Section 336: The Building Societies Commission.
Section 337: The Building Societies Investor Protection Board.
Section 338: Industrial and provident societies and credit unions.
Section 339: Supplemental provisions.

Part XXII: Auditors and Actuaries

Section 339A: General duties of PRA in relation to auditors
Section 339B: Duty to meet auditors of certain institutions
Section 339C: PRA-authorised persons to which this section applies
Section 340: Appointment.
Section 341: Access to books etc.
Section 342: Information given by auditor or actuary to a regulator.
Section 343: Information given by auditor or actuary to a regulator: persons with close links.
Section 344: Duty of auditor or actuary resigning etc. to give notice.
Section 345: Disciplinary measures: FCA
Section 345A: Disciplinary measures: PRA
Section 345B: Procedure and right to refer to Tribunal
Section 345C: Duty on publication of statement
Section 345D: Imposition of penalties on auditors or actuaries: statement of policy
Section 345E: Statements of policy: procedure
Section 346: Provision of false or misleading information to auditor or actuary.

Part XXIII: Public Record, Disclosure of Information and Co-operation

Section 347: The record of authorised persons etc.
Section 347A: Duty of PRA to disclose information relevant to the record
Section 348: Restrictions on disclosure of confidential information by FCA, PRA etc.
Section 349: Exceptions from section 348.
Section 350: Disclosure of information by the Inland Revenue.
Section 351: Competition information.
Section 351A: Disclosure under the UCITS directive
Section 352: Offences.
Section 353: Removal of other restrictions on disclosure.
Section 353A: Information received from Bank of England
Section 354: Authority's duty to co-operate with others.
Section 354A: FCA's duty to co-operate with others
Section 354B: PRA's duty to co-operate with others
Section 354C: PRA's duty to provide information to Bank of England
Section 354D: Information under the markets in financial instruments directive
Section 354E: Competent authorities under the markets in financial instruments directive: designation and co-operation
Section 354F: Information under the transparency obligations directive
Section 354G: Information under the UCITS directive
Section 354H: Information under the Insurance Distribution Directive

Part XXIV: Insolvency

Section 355: Interpretation of this Part.
Section 355A: Powers of FCA and PRA to participate in proceedings
Section 355B: Enforcement of requirements imposed by section 355A
Section 356: Powers of FCA and PRA to participate in proceedings: company voluntary arrangements.
Section 357: Powers of FCA and PRA to participate in proceedings: individual voluntary arrangements.
Section 358: Powers of FCA and PRA to participate in proceedings: trust deeds for creditors in Scotland.
Section 359: Administration order
Section 360: Insurers.
Section 361: Administrator's duty to report to FCA and PRA
Section 362: Powers of FCA and PRA to participate in proceedings.
Section 362A: Administrator appointed by company or directors
Section 363: Powers of FCA and PRA to participate in proceedings.
Section 364: Receiver's duty to report to FCA and PRA
Section 365: Powers of FCA and PRA to participate in proceedings.
Section 366: Insurers effecting or carrying out long-term contracts or insurance.
Section 367: Winding-up petitions.
Section 368: Winding-up petitions: EEA and Treaty firms.
Section 369: Insurers: service of petition etc. on FCA and PRA.
Section 369A: Reclaim funds: service of petition etc on FCA and PRA
Section 370: Liquidator's duty to report to FCA and PRA
Section 371: Powers of FCA and PRA to participate in proceedings.
Section 372: Petitions.
Section 373: Insolvency practitioner's duty to report to FCA and PRA.
Section 374: Powers of FCA or PRA to participate in proceedings.
Section 375: Right of FCA and PRA to apply for an order.
Section 376: Continuation of contracts of long-term insurance where insurer in liquidation.
Section 377: Reducing the value of contracts instead of winding up.
Section 377A: Write-down orders
Section 377B: Excluded liabilities
Section 377C: Application for a write-down order
Section 377D: Powers of the FCA and PRA to participate in proceedings
Section 377E: Powers of the court
Section 377F: Duty to notify creditors
Section 377G: The manager
Section 377H: Write-down order ceasing to have effect
Section 377I: Variation or revocation of a write-down order
Section 377J: Further provision about write-down orders
Section 377K: Insurers in financial difficulties: enforcement of contracts
Section 378: Treatment of assets on winding up.
Section 379: Winding-up rules.
Section 379A: Power to apply settlement finality regime to payment institutions

Part XXV: Injunctions and Restitution

Section 380: Injunctions.
Section 381: Injunctions in cases of market abuse.
Section 382: Restitution orders.
Section 383: Restitution orders in cases of market abuse.
Section 384: Power of FCA or PRA to require restitution.
Section 385: Warning notices.
Section 386: Decision notices.

Part XXVI: Notices

Section 387: Warning notices.
Section 388: Decision notices.
Section 389: Notices of discontinuance.
Section 390: Final notices.
Section 391: Publication.
Section 391A: Publication: special provisions relating to capital requirements
Section 391B: Publication: special provisions relating to transparency obligations
Section 391C: Publication: special provisions relating to UCITS
Section 391D: Publication: special provisions relating to markets in financial instruments
Section 391E: Publication: special provisions relating to insurance distribution
Section 391F: Publication: special provisions relating to the prospectus regulation
Section 392: Application of sections 393 and 394.
Section 393: Third party rights.
Section 394: Access to FCA or PRA material.
Section 395: The FCA's and PRA's procedures.
Section 396: Statements under section 395: consultation.

Part XXVII: Offences

Section 397: Misleading statements and practices.
Section 398: Misleading FCA or PRA: residual cases.
Section 399: Misleading the CMA.
Section 400: Offences by bodies corporate etc.
Section 401: Proceedings for offences.
Section 402: Power of FCA to institute proceedings for certain other offences.
Section 403: Jurisdiction and procedure in respect of offences.

Part XXVIII: Miscellaneous

Section 404: Consumer redress schemes
Section 404A: Rules under s.404: supplementary
Section 404B: Complaints to the ombudsman scheme
Section 404C: Enforcement
Section 404D: Applications to Tribunal to quash rules or provision of rules
Section 404E: Meaning of "consumers"
Section 404F: Other definitions etc
Section 404G: Power to widen the scope of consumer redress schemes
Section 405: Directions.
Section 406: Interpretation of section 405.
Section 407: Consequences of a direction under section 405.
Section 408: EFTA firms.
Section 409: Gibraltar.
Section 409A: Consultation in relation to deference decisions
Section 409B: Notification in relation to international trade obligations
Section 410: International obligations.
Section 410A: Fees to meet certain expenses of the Treasury
Section 410B: Directions in pursuance of section 410A
Section 411: Tax treatment of levies and repayments.
Section 412: Gaming contracts.
Section 412A: Approval and monitoring of trade-matching and reporting systems
Section 412B: Procedure for approval and suspension or withdrawal of approval
Section 413: Protected items.
Section 414: Service of notices.
Section 415: Jurisdiction in civil proceedings.
Section 415A: Powers under the Act
Section 415AA: Application of powers to formerly authorised persons
Section 415B: Consultation in relation to taking certain enforcement action
Section 415C: Co-operation and consultation in relation to exercise of functions
Section 416: Provisions relating to industrial assurance and certain other enactments.
Section 416A: SDR policy statement
Section 416B: FCA and PRA rules etc

Part XXIX: Interpretation

Section 417: Definitions.
Section 418: Carrying on regulated activities in the United Kingdom.
Section 419: Carrying on regulated activities by way of business.
Section 419A: Claims management services
Section 419B: Carrying on claims management activity in Great Britain
Section 420: Parent and subsidiary undertaking.
Section 421: Group.
Section 421ZA: Immediate group
Section 421A: Meaning of "participating interest"
Section 422: Controller.
Section 422A: Disregarded holdings
Section 423: Manager.
Section 423A: Mortgage agreements etc
Section 424: Insurance.
Section 424A: Investment firm
Section 425: Expressions relating to authorisation ... in the single market.
Section 425A: Consumers: regulated activities etc carried on by authorised persons
Section 425B: Consumers: regulated activities carried on by others
Section 425C: "Qualifying provision"

Part XXX: Supplemental

Section 426: Consequential and supplementary provision.
Section 427: Transitional provisions.
Section 428: Regulations and orders.
Section 429: Parliamentary control of statutory instruments.
Section 430: Extent.
Section 431: Commencement.
Section 432: Minor and consequential amendments, transitional provisions and repeals.
Section 433: Short title.

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About this text

This legislation text comes from legislation.gov.uk. Contains public sector information licensed under the Open Government Licence v3.0.

Reuse reviewed 21 August 2026 under Open Government Licence v3.0.