Contents

1. Part 1

   Ring-fencing

   1. 1. Objectives of Prudential Regulation Authority

   2. 2. Modification of objectives of Financial Conduct Authority

   3. 3. Amendment of PRA power of direction

   4. 4. Ring-fencing of certain activities

   5. 5. PRA annual report

   6. 6. Ring-fencing transfer schemes

   7. 7. Building societies: power to make provision about ring-fencing

   8. 8. Independent review of operation of legislation relating to ring-fencing

   9. 9. Right to obtain documents and information

2. Part 2

   Depositor preference and the Financial Services Compensation Scheme

   1. Depositor preference

      1. 10. Preferential debts: Great Britain

   2. Financial Services Compensation Scheme

      1. 11. Discharge of functions by the scheme manager

      2. 12. Power to require information from scheme manager

      3. 13. Scheme manager: appointment of accounting officer

3. Part 3

   Bail-in stabilisation option

   1. 14. Bail-in stabilisation option

4. Part 4

   Conduct of persons working in financial services sector

   1. Amendments of FSMA 2000

      1. 15. Professional standards

      2. 16. Functions for which approval is required

      3. 17. Senior management functions

      4. 18. Statements of responsibilities

      5. 19. Power to give approval subject to conditions or for limited period

      6. 20. Changes in responsibilities of senior managers

      7. 21. Variation of approval

      8. 22. Statement of policy

      9. 23. Extension of limitation periods for imposing sanctions

      10. 24. Rules of conduct

      11. 25. Definition of “misconduct”

      12. 26. Meaning of “relevant authorised person”

      13. 27. Recording information about senior managers

      14. 28. Consequential amendments relating to Part 4

   2. Offence

      1. 29. Offence relating to a decision causing a financial institution to fail

      2. 30. Section 29: interpretation

      3. 31. Institution of proceedings

5. Part 5

   Regulation of payment systems

   1. Overview

      1. 32. Overview

   2. The Payment Systems Regulator

      1. 33. The Payment Systems Regulator

   3. “Payment system” etc

      1. 34. Meaning of “payment system”

      2. 35. Participants in payment systems etc

   4. Designation as a regulated payment system

      1. 36. Designation orders

      2. 37. Designation criteria

      3. 38. Procedure

      4. 39. Amendment of designation order

      5. 40. Revocation of designation orders

      6. 41. Publication

   5. General duties of Regulator

      1. 42. Regulator’s general duties in relation to payment systems

      2. 43. The competition objective

      3. 44. The innovation objective

      4. 45. The service-user objective

      5. 46. Regulatory principles

   6. Regulatory and competition functions

      1. 47. Directions

      2. 48. System rules

      3. 49. Power to require granting of access to payment systems

      4. 50. Variation of agreements relating to payment systems

      5. 51. Power to require disposal of interest in payment system

      6. 52. The Regulator’s functions under Part 4 of the Enterprise Act 2002

      7. 53. Restrictions on exercise of functions under Part 4 of the Enterprise Act 2002

      8. 54. The Regulator’s functions under the Competition Act 1998

      9. 55. Duty to consider exercise of powers under Competition Act 1998

      10. 56. Provision of information and assistance to a CMA group

      11. 57. Function of keeping markets under review

      12. 58. Exclusion of general duties

      13. 59. Concurrent competition powers: supplementary provision

      14. 60. Amendments relating to Regulator’s competition powers

   7. Complaints

      1. 61. Complaints by representative bodies

      2. 62. Response by Regulator

      3. 63. Complaints: guidance

   8. Enforcement and appeals

      1. 64. Meaning of “compliance failure”

      2. 65. Publication of compliance failures etc

      3. 66. Penalties

      4. 67. Warning notices

      5. 68. Injunctions

      6. 69. Appeals: general

      7. 70. Appeals to Competition Appeal Tribunal

      8. 71. Appeals in relation to penalties

      9. 72. Appeals to Competition and Markets Authority

      10. 73. Enforcement of requirement to dispose of interest in payment system

   9. Information and investigation powers

      1. 74. Power to obtain information or documents

      2. 75. Reports by skilled persons

      3. 76. Appointment of persons to conduct investigations

      4. 77. Investigations: general

      5. 78. Powers of persons appointed under section 76

      6. 79. Information and documents: supplemental provisions

      7. 80. Admissibility of statements made to investigators

      8. 81. Entry of premises under warrant

      9. 82. Retention of documents taken under section 81

      10. 83. Enforcement of information and investigation powers

   10. Disclosure of information

       1. 84. Restrictions on disclosure of confidential information

       2. 85. Exemptions from section 84

       3. 86. Offences relating to disclosure of confidential information

       4. 87. Information received from Bank of England

       5. 88. Disclosure of information by Bank to Regulator

   11. Guidance

       1. 89. Guidance

   12. Reports

       1. 90. Reports

   13. Relationship with other regulators

       1. 91. Duty of regulators to ensure co-ordinated exercise of functions

       2. 92. Memorandum of understanding

       3. 93. Power of Bank to require Regulator to refrain from specified action

       4. 94. Power of FCA to require Regulator to refrain from specified action

       5. 95. Power of PRA to require Regulator to refrain from specified action

   14. Consultation, accountability and oversight

       1. 96. Regulator’s general duty to consult

       2. 97. Consultation in relation to generally applicable requirements

       3. 98. Independent inquiries

       4. 99. Investigations into regulatory failure

       5. 100. Competition scrutiny

   15. Miscellaneous and supplemental

       1. 101. Relationship with Part 8 of the Payment Services Regulations 2009

       2. 102. Exemption from liability in damages for FCA and PRA

       3. 103. Interpretation of Part

6. Part 6

   Special administration for operators of certain infrastructure systems

   1. Introductory

      1. 104. Financial market infrastructure administration

      2. 105. Interpretation: infrastructure companies

      3. 106. Interpretation: other expressions

   2. FMI administration orders

      1. 107. FMI administration orders

      2. 108. Objective of FMI administration

      3. 109. Application for FMI administration order

      4. 110. Powers of court

      5. 111. FMI administrators

      6. 112. Continuity of supply

      7. 113. Power to direct FMI administrator

      8. 114. Conduct of administration, transfer schemes etc.

   3. Restrictions on other insolvency procedures

      1. 115. Restriction on winding-up orders and voluntary winding up

      2. 116. Restriction on making of ordinary administration orders

      3. 117. Restriction on enforcement of security

   4. Financial support for companies in FMI administration

      1. 118. Loans

      2. 119. Indemnities

   5. Interpretation

      1. 120. Interpretation of Part

   6. Application of Part to Northern Ireland

      1. 121. Northern Ireland

7. Part 7

   Miscellaneous

   1. Competition

      1. 122. Functions of FCA under competition legislation

      2. 123. Competition as a secondary objective of the PRA

   2. Parent undertakings

      1. 124. Power of FCA and PRA to make rules applying to parent undertakings

   3. Fees to meet Treasury expenditure

      1. 125. Fees to meet Treasury expenditure relating to international organisations

   4. Parliamentary control of statutory instruments under FSMA 2000

      1. 126. Amendments of section 429 of FSMA 2000

   5. Bank of England

      1. 127. Accounts of Bank of England and its wholly-owned subsidiaries

   6. Building societies

      1. 128. Building societies

   7. Claims management services

      1. 129. Power to impose penalties on persons providing claims management services

   8. Minor amendments

      1. 130. Minor amendments

8. Part 8

   Final provisions

   1. 131. Orders and regulations: general

   2. 132. Orders and regulations: Parliamentary control

   3. 133. Interpretation

   4. 134. Power to make further consequential amendments

   5. 135. Transitional provisions and savings

   6. 136. Extent

   7. 137. Commencement and short title

9. 1. Schedule 1

      Ring-fencing transfer schemes

   2. Schedule 2

      Bail-in stabilisation option

      1. Part 1

         Amendments of Banking Act 2009

      2. Part 2

         Modification of Investment Bank Special Administration
         Regulations 2011

   3. Schedule 3

      Consequential amendments relating to Part 4

   4. Schedule 4

      The Payment Systems Regulator

   5. Schedule 5

      Procedure for appeals to the CMA

   6. Schedule 6

      Conduct of FMI administration

   7. Schedule 7

      Financial market infrastructure transfer schemes

   8. Schedule 8

      Functions of FCA under competition legislation

      1. Part 1

         Amendments of Financial Services and Markets Act 2000

      2. Part 2

         Amendments of other legislation

   9. Schedule 9

      Building societies

   10. Schedule 10

       Minor amendments