Financial Services and Markets Act 2000 (c. 8)

[F1 PART 1A U.K. The Regulators

Textual Amendments

F1 Pt. 1A substituted for Pt. 1 (24.1.2013 for specified purposes, 19.2.2013 for specified purposes, 1.4.2013 in so far as not already in force) by Financial Services Act 2012 (c. 21), ss. 6(1), 122(3) (with Sch. 20); S.I. 2013/113, art. 2(1)(b)(c)(2), Sch. Pts. 2, 3, 4; S.I. 2013/423, art. 3, Sch.

CHAPTER 3 U.K. Further provisions relating to FCA and PRA

[F2 Rules U.K.

Textual Amendments

F2 Ss. 3RA-3RD and cross-heading inserted (29.8.2023) by Financial Services and Markets Act 2023 (c. 29), ss. 29(2), 86(3); S.I. 2023/779, reg. 4(t)

3RA Duty of FCA and PRA to review rules U.K.

(1) Each regulator must keep under review generally any rules made by the regulator under this Act or any other enactment (whenever passed or made).

(2) Subsection (1) does not apply to rules made for the purpose of complying with a direction or recommendation of the Financial Policy Committee of the Bank of England under—

(a) section 9H of the Bank of England Act 1998 (directions to FCA or PRA requiring macro-prudential measures), or

(b) section 9Q of that Act (recommendations to FCA and PRA).]]