Financial Services Bill (HC Bill 278)
EXPLANATORY NOTES
Explanatory notes to the Bill, prepared by the Treasury, are published separately as
Bill 278—EN.
EUROPEAN CONVENTION ON HUMAN RIGHTS
Mr Chancellor of the Exchequer has made the following statement under section
19(1)(a) of the Human Rights Act 1998:
In my view the provisions of the Financial Services Bill are compatible with the
Convention rights.
Contents
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Part 1
Bank of England
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Part 2
Amendments of Financial Services and Markets Act 2000
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Financial Conduct Authority and Prudential Regulation Authority
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Regulated activities
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Permission to carry on regulated activities
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Passporting
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Performance of regulated activities
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Official listing
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Control of business transfers
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Hearings and appeals
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Rules and guidance
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Control over authorised persons
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Recognised investment exchanges and clearing houses
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26. Exemption for recognised investment exchanges and clearing houses
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27. Powers in relation to recognised investment exchanges and clearing houses
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28. Recognition requirements: power of FCA and Bank to make rules
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29. Recognised bodies: procedure for giving directions under s.296 etc
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30. Power to take disciplinary measures against recognised bodies
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Suspension and removal of financial instruments from trading
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Discipline and enforcement
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Financial Services Compensation Scheme
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Financial ombudsman service
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Lloyd’s
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Information
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Auditors and actuaries
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Consumer protection and competition
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Insolvency
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Miscellaneous amendments of FSMA 2000
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Part 3
Mutual societies
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Transfer of functions
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Building societies: miscellaneous
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Interpretation
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Part 4
Collaboration between Treasury and Bank of England, FCA or PRA
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Part 5
Inquiries and investigations
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Inquiries
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Investigations
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Publication of reports
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Supplementary
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Part 6
Investigation of complaints against regulators
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Part 7
Amendments of Banking Act 2009
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Special resolution regime and bank administration
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Inter-bank payment systems
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Further amendments
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Part 8
Miscellaneous
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Amendments of Companies Act 1989
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Settlement systems
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Director of Savings
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Part 9
General
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Further amendments and repeals
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Orders
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Interpretation
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Consequential and transitional provisions
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Final provisions
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