PART 6Investigation of complaints against regulators

85Relevant functions in relation to complaints scheme

(1)

This section has effect for the interpretation of the reference in section 84(1)(a) to the relevant functions of the regulators.

F1(2)

The relevant functions of the FCA or the PRA are—

(a)

its functions conferred by or under FSMA 2000, other than its legislative functions F2and its standards review functions, and

(b)

such other functions as the Treasury may by order provide.

F3(3)

The relevant functions of the Bank of England are—

(a)

its functions under Part 18 of FSMA 2000 (recognised clearing houses F4and CSDs ) or under Part 5 of the Banking Act 2009 (F5... payment systems) F6or Part 5A of that Act (wholesale cash distribution), other than its legislative functions, and

(b)

such other functions as the Treasury may by order provide.

(4)

For the purposes of F7subsection (2)(a), the following are the FCA's legislative functions—

(a)

making rules under FSMA 2000;

(b)

issuing codes under section F8... 119 of FSMA 2000;

(c)

issuing statements under—

(i)

section F963ZD, 63C, F10... 69, 88C, 89S, 93, 124, F11131J, 138N, 192H, 192N, 210 F12or 312J of FSMA 2000,

(ii)

section 345D of FSMA 2000 (whether as a result of section 345(2) or 345A(3) or section 249(1) F13or 261K(1) of that Act), or

(iii)

section 80 of the Financial Services Act 2012;

(d)

giving directions under section 316, 318 or 328 of FSMA 2000;

(e)

issuing general guidance, as defined in section 139B(5) F14... of FSMA 2000.

F15(f)

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F16(g)

making technical standards in accordance with Chapter 2A of Part 9A of FSMA 2000;

(h)

making EU Exit instruments under the Financial Regulators’ Powers (Technical Standards) (Amendment etc.) (EU Exit) Regulations 2018.

F17(4A)

For the purposes of subsection (2)(a), the FCA's standards review functions are the FCA's functions under sections 9(2) and 10 of the Financial Guidance and Claims Act 2018 (approving and reviewing standards set by F18Money and Pensions Service).

(5)

For the purposes of F19subsection (2)(a), the following are the PRA's legislative functions—

(a)

making rules under FSMA 2000;

F20(b)

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(c)

issuing statements under—

(i)

section F2163ZD, 63C, F22... 69, 192H, 192N, 210 or 345D of FSMA 2000, or

(ii)

section 80 of the Financial Services Act 2012;

(d)

giving directions under section 316 or 318 of FSMA 2000;

(e)

issuing guidance under section 2I of FSMA 2000.

F23(f)

making technical standards in accordance with Chapter 2A of Part 9A of FSMA 2000;

(g)

making EU Exit instruments under the Financial Regulators’ Powers (Technical Standards) (Amendment etc.) (EU Exit) Regulations 2018.

(6)

For the purposes of F24subsection (3)(a), the following functions of the Bank of England under Part 18 of FSMA 2000 are legislative functions—

(a)

making rules;

(b)

issuing statements—

(i)

under section 312J, or

(ii)

by virtue of the application by Schedule 17A of a provision mentioned in subsection (5)(c)(i) of this section.

(7)

For the purposes of F25subsection (3)(a), the following functions of the Bank of England under F26Parts 5 and 5A of the Banking Act 2009 are legislative functions—

(a)

publishing principles or codes of practice under sections 188 F27,189, 206K and 206L;

(b)

preparing statements under section 198(3) F28and 206T(3).

F29(8)

For the purposes of subsection (2), sections 1A(6) and F302AB(3) of FSMA 2000 do not apply.