The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2020

Citation, commencement and interpretation

1.—(1) This Order may be cited as the Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2020.

(2) This Order comes into force on the day (“the initial commencement day”) after the day on which it is made, for the following purposes only—

(a) enabling the FCA—

(i) to make or approve rules;

(ii) to give guidance; and

(iii) to give directions.

(b) enabling applications for—

(i) a Part 4A(1) permission under section 55A(2) of the Act;

(ii) a variation of a Part 4A permission under section 55H(3) of the Act; and

(iii) approval under Part 5 of the Act;

to be made and determined in relation to any activity which becomes a regulated activity by virtue of this Order;

(c) enabling the FCA to exercise any of its powers under Part 4A or Part 5 of the Act in relation to any activity which becomes a regulated activity by virtue of this Order; and

(d) enabling the scheme operator—

(i) to make rules; and

(ii) to give guidance.

(3) This Order comes into force for all other purposes on the first day following the expiry of a period of eighteen calendar months beginning on the day after the initial commencement day.

(4) In this Order—

“the Act” means the Financial Services and Markets Act 2000;

“the Regulated Activities Order” means the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001(4); and

“scheme operator” has the meaning given in section 225(2) of the Act.

(1)

Part 4A was inserted by section 11 of the Financial Services Act 2012.

(2)

Section 55A was inserted by section 11 of the Financial Services Act 2012 and amended by S.I. 2018/135.

(3)

Sections 40 to 55 of the Act were substituted for a new Part 4A consisting of sections 55A to 55Z4 by section 11 of the Financial Services Act 2012.

(4)

S.I. 2001/544.