Remedy
Start free

Section 142R: Relationship with regulators' powers under Parts 4A and 12A

Financial Services and Markets Act 2000 · 2000 c. 8View on legislation.gov.uk

Part 9B: Ring-fencing

Subsection (2) applies in relation to—

a ring-fenced body which is a member of a mixed group, and
a parent undertaking of such a ring-fenced body.

A regulator may not exercise its general powers in relation to the ring-fenced body or parent undertaking so as to achieve either of the results in subsection (3).

Those results are—

that no existing group member is a parent undertaking of the ring-fenced body;
that the ring-fenced body is not a member of a mixed group.

In subsection (3)(a) "existing group member" means a person who is a member of the ring-fenced body's group at the time when the requirement is imposed or the direction given.

Except as provided by subsections (1) to (4), the provisions of sections 142K to 142Q do not limit the general powers of either regulator.

For the purposes of this section, a regulator's "general powers" are its powers under the following provisions—

section 55L or 55M (imposition of requirements in connection with Part 4A permission);
section 192C (power to direct qualifying parent undertaking).

For the purposes of this section, a ring-fenced body is a member of a mixed group if a member of the ring-fenced body's group carries on an excluded activity.

About this text

This legislation text comes from legislation.gov.uk. Contains public sector information licensed under the Open Government Licence v3.0. These source and reuse terms cover the legislation text, not Remedy's commentary.

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