The Financial Conglomerates and Other Financial Groups Regulations 2004

Statutory Instruments

2004 No. 1862

FINANCIAL SERVICES AND MARKETS

The Financial Conglomerates and Other Financial Groups Regulations 2004

Made

19th July 2004

Laid before Parliament

19th July 2004

Coming into force

10th August 2004

Whereas the Treasury are a government department designated for the purposes of section 2(2) of the European Communities Act 1972(1) in relation to—

(a) the authorisation of the carrying on of insurance business and the regulation of such business and its conduct(2);

(b) credit and financial institutions and the taking of deposits or other repayable funds from the public(3);

(c) measures relating to investment firms and to the provision of investment services(4); and

(d) collective investment in transferable securities and other liquid assets(5);

Now therefore the Treasury, in exercise of the powers conferred upon them by section 2(2) of the European Communities Act 1972 and sections 183(2), 188(2), 417(1)(6) and 428(3) of the Financial Services and Markets Act 2000(7) hereby make the following Regulations:

(1)

1972 c. 68. By virtue of the amendment of section 1(2) made by section 1 of the European Economic Area Act 1993 (c. 51), regulations may be made under section 2(2) to implement obligations of the United Kingdom created by or arising under the Agreement on the European Economic Area signed at Oporto on 2nd May 1992 (Cm 2073) and the Protocol adjusting the Agreement signed at Brussels on 17th March 1993 (Cm 2183).

(2)

S.I. 1997/2781.

(3)

S.I. 2001/3495.

(4)

S.I. 1993/2661.

(5)

S.I. 2002/2840.

(6)

See the definition of “prescribed”.

(7)

2000 c. 8.