| 1 | A guide to the new UK financial services regulatory structure ... This practice note acts as an index to PLC's resources on the reforms to the UK financial services regulatory structure that took place on 1 April 2013. | Practice note: overview | Maintained |
| 2 | Bank of England: role, governance and financial stability ... An overview of the Bank of England (BoE), focusing on its responsibilities for UK financial stability. It considers the legal status of the BoE, its governance arrangements and the accountability mechanisms that apply to it. The note reflects the reforms made to the BoE's powers and governance made by the Financial Services Act 2012. | Practice note: overview | Maintained |
| 3 | Financial Services Act 2012 An overview of the Financial Services Act 2012 (FS Act), the primary legislation enabling the government's reforms of the UK financial services regulatory structure. It also includes links to relevant PLC Financial Services content relating to individual provisions in the FS Act. For information on the parliamentary progress of the FS Act, see Legislation tracker: Financial Services Act 2012. This note is part of a series of notes relating to the new UK financial services regulatory structure. For more information, see Practice note, A guide to the new UK financial services regulatory structure: index. | Practice note: overview | Maintained |
| 4 | FSA Handbook of Rules and Guidance This practice note provides an overview of the FSA's Handbook of Rules and Guidance. For details of the new FCA and PRA Handbooks, which are based on and will supersede the FSA Handbook from 1 April 2013, see Practice note, FCA and PRA Handbooks. | Practice note: overview | 31-Mar-2013 |
| 5 | FSMA controllers regime: overview An overview of the regime that applies to controllers, and prospective controllers, of authorised firms under the Financial Services and Markets Act 2000 (FSMA). It also acts as an introduction to PLC Financial Services' suite of notes on the FSMA controllers regime. | Practice note: overview | Maintained |
| 6 | FSMA overview An overview of the Financial Services and Markets Act 2000 (FSMA). | Practice note: overview | Maintained |
| 7 | Hot topics: New UK financial services regulatory structure An overview of current progress of the reforms to the UK financial services regulatory structure, under which the FSA will be abolished and the majority of its functions transferred to new regulators: the Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA). The note tracks developments, sets out the milestones for future development and provides links to PLC Financial Services' resources on the new regulatory structure. The key primary source material table in this note contains links to key primary source material and related PLC Financial Services legal updates. It is not intended to be an exhaustive list of all relevant materials published by interested parties. For an index to PLC's resources on the government's proposals for reforming the UK financial services regulatory structure, see Practice note, A guide to the new UK financial services regulatory structure: index. | Practice note: overview | Maintained |
| 8 | New UK financial services regulatory structure: a quick guide A quick guide to the changes to the UK financial services regulatory structure made by the Financial Services Act 2012. On 1 April 2013, the FSA was abolished and the majority of its functions transferred to two new regulators: the Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA). On the same date, the Bank of England (BoE) took over the FSA's responsibilities for financial market infrastructures and the Financial Policy Committee (FPC) was established on a statutory basis. For an index of PLC's resources on the new regulatory structure, see A guide to the new UK financial services regulatory structure: index.This is one of a series of quick guides: see Quick guides. | Practice note: overview | Maintained |
| 9 | Regulated Activities Order: overview An overview of the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001 (SI 2001/544) (RAO), including its specified activities, specified investments, exclusions, exemptions and overrides. | Practice note: overview | Maintained |
| 10 | Actions for damages under FSMA This note outlines the rights available under section 138D of the Financial Services and Markets Act 2000 (FSMA), allowing persons who suffer loss as a result of a rule breach a right of action for damages for those losses. | Practice notes | Maintained |
| 11 | Actions for damages under section 150 of FSMA This note outlines the rights that were available under section 150 of the Financial Services and Markets Act 2000 (FSMA), allowing persons who suffer loss as a result of a rule breach by an authorised person a right of action for damages for those losses. Section 150 was repealed by the Financial Services Act 2012 and replaced with a new section 138D. | Practice notes | 31-Mar-2013 |
| 12 | Bank of England regulation of FMIs An overview of the role of the Bank of England (BoE) as the UK regulator responsible for financial market infrastructures (FMIs): central counterparties (CCPs), settlement systems and recognised payment systems. This note is part of a series of notes relating to the new UK financial services regulatory structure. For more information, see Practice note, A guide to the new UK financial services regulatory structure: index. | Practice notes | Maintained |
| 13 | Co-ordination between FCA, PRA and BoE An overview of the mechanisms for co-operation and co-ordination between the UK financial services regulatory bodies: the FCA, the PRA and the Bank of England (BoE), including the BoE's Financial Policy Committee (FPC). This practice note is part of a series of notes relating to the new UK financial services regulatory structure. For more information, see Practice note, A guide to the new UK financial services regulatory structure: index. | Practice notes | Maintained |
| 14 | FCA and PRA Handbooks An overview of the FCA Handbook and the PRA Handbook. The note considers the structure of the new Handbooks and the process involved in dividing the FSA Handbook between the FCA and the PRA. This note forms part of PLC's work to update our materials to reflect the new UK regulatory structure that came into effect on 1 April 2013. For more information on PLC's content on the new structure, see Practice note, A guide to the new UK financial services regulatory structure: index. | Practice notes | Maintained |
| 15 | FCA and PRA individual guidance This practice note deals with the circumstances in which a person may ask the FCA for individual guidance and circumstances where the FCA may give individual guidance to a firm on its own initiative. It also considers the PRA's approach to individual guidance. | Practice notes | Maintained |
| 16 | FCA and PRA regulatory principles An overview of the shared set of regulatory principles set out in section 3B of the Financial Services and Markets Act 2000 (FSMA) to which the FCA and the PRA must have regard when exercising their regulatory functions. This note is part of a series of notes relating to the new UK financial services regulatory structure. For more information, see Practice note, A guide to the new UK financial services regulatory structure: index. | Practice notes | Maintained |
| 17 | FCA and PRA rule-making powers An overview of the rule-making powers of the PRA and the FCA under Part 9A of the Financial Services and Markets Act 2000 (FSMA). This note is part of a series of notes relating to the new UK financial services regulatory structure. For more information, see Practice note, A guide to the new UK financial services regulatory structure: index. | Practice notes | Maintained |
| 18 | FCA statutory objectives An overview of the statutory objectives of the FCA. The note also considers the other factors, apart from the statutory objectives, that the FCA will be required to consider when performing its functions. This note is part of a series of notes relating to the new UK financial services regulatory structure. For more information, see Practice note, A guide to the new UK financial services regulatory structure: index. | Practice notes | Maintained |
| 19 | FCA super-complaints and mass detriment references An overview of the regime set out in Part 16A of the Financial Services and Markets Act 2000 (FSMA) under which super-complaints and mass detriment references may be made to the FCA. The aim of the regime is to establish a framework under which the FCA can be alerted to competition issues, or matters that adversely affect the interests of consumers, and then be held accountable for its response. This note is part of a series of notes relating to the new UK financial services regulatory structure. For more information, see Practice note, A guide to the new UK financial services regulatory structure: index. | Practice notes | Maintained |
| 20 | FCA supervisory model An overview of the approach that the Financial Conduct Authority (FCA) takes to the supervision of the firms that it regulates. This note is part of a series of notes relating to the new UK financial services regulatory structure. For more information, see Practice note, Hot topics: New UK financial services regulatory structure. | Practice notes | Maintained |
| 21 | FCA, PRA and BoE powers over unregulated holding ... An overview of the framework set out in Part 12A of the Financial Services and Markets Act 2000 (FSMA), under which the FCA, the PRA and the Bank of England (BoE) have the power to impose requirements on UK parent undertakings of certain regulated firms. This note is part of a series of notes relating to the new UK financial services regulatory structure. For more information, see A guide to the new UK financial services regulatory structure: index. | Practice notes | Maintained |
| 22 | FCA: role, governance and powers An overview of the FCA, the UK financial services regulator responsible for the conduct of firms authorised under the Financial Services and Markets Act 2000 (FSMA). The FCA is also responsible for the regulation of conduct in retail and wholesale financial markets, supervision of the trading infrastructure that supports those markets and the prudential regulation of firms not regulated by the PRA. The note considers the roles and responsibilities of the FCA, its legal status, its governance arrangements and the accountability mechanisms that apply to it. This note is part of a series of notes relating to the new UK financial services regulatory structure. For more information, see Practice note, A guide to the new UK financial services regulatory structure: index. | Practice notes | Maintained |
| 23 | Financial crisis management arrangements An overview of the arrangements set out in Part 4 of the Financial Services Act 2012 on the roles of the UK authorities, and particularly the Bank of England (BoE) and HM Treasury, should take to address emerging crisis situations relating to the financial services sector. This note is part of a series of notes relating to the new financial services regulatory structure. For more information, see Practice note, A guide to the new UK financial services regulatory structure: index. | Practice notes | Maintained |
| 24 | Financial Services Act 2010 An overview of the key provisions of the Financial Services Act 2010 (FS Act) which received Royal Assent on 8 April 2010. For further information on the progress of the FS Act prior to Royal Assent, see Legislation tracker: Financial Services Act 2010. | Practice notes | 31-Dec-2011 |
| 25 | Financial Services Bill 2009-10: removal of key provisions This practice note provides an overview of the provisions of the Financial Services Bill 2009-10 (FS Bill) which were removed in the "wash-up" process prior to the FS Bill receiving Royal Assent on 8 April 2010 at the end of the 2009-2010 parliamentary session. These abandoned proposals included the establishment for a council for financial stability and measures allowing the courts to authorise collective proceedings for financial services claims. For more information on the Financial Services Act 2010, see Practice note, The Financial Services Act 2010. | Practice notes | 13-May-2010 |
| 26 | FPC: role, governance and powers An overview of the Financial Policy Committee (FPC), a committee of the Bank of England (BoE) responsible for macro-prudential regulation. The FPC will monitor the stability and resilience of the UK financial system as a whole. This note is part of a series of notes relating to the new UK financial services regulatory structure. For more information, see Practice note, A guide to the new UK financial services regulatory structure: index. | Practice notes | Maintained |
| 27 | FSA notification requirements: decision tree This practice note contains a decision tree produced by Aaron Stephens, a partner, and Helen Armstrong, an associate, both in Berwin Leighton Paisner LLP's Financial Services Investigations and Enforcement practice, which is designed to help FSA-authorised firms determine whether they are faced with a potentially notifiable matter under Principle 11 of the FSA's Principles for Businesses (PRIN) or Chapter 15 of the FSA's Supervision manual (SUP). This note is in the process of being updated by its authors to reflect the new UK regulatory structure that came into effect on 1 April 2013. | Practice notes | Maintained |
| 28 | FSA's rule-making powers under FSMA An outline of the rule-making powers of the FSA and its rule-making process under the Financial Services and Markets Act 2000 (FSMA) that applied until 31 March 2013, the date on which the FSA was abolished. | Practice notes | 31-Mar-2013 |
| 29 | FSMA controllers regime: change of control applications An overview of the process that controllers or potential controllers of authorised firms should take when notifying the FCA or the PRA, as appropriate, about a change of control under Part 12 of the Financial Services and Markets Act 2000 (FSMA). The note also considers the obligations on an authorised firm itself when a change of control occurs. This note forms part of a suite of notes on Part 12 of FSMA and the FSMA controllers regime. For more information, see Practice note, FSMA controllers regime: overview. | Practice notes | Maintained |
| 30 | FSMA controllers regime: FCA and PRA enforcement powers An overview of the powers available to the FCA and PRA to enforce their responsibilities under the controllers regime in Part 12 of the Financial Services and Markets Act 2000 (FSMA). This note forms part of a suite of notes on Part 12 of FSMA and the FSMA controllers regime. For more information, see Practice note, FSMA controllers regime: overview. | Practice notes | Maintained |
| 31 | FSMA controllers regime: key concepts A note providing guidance on the definitions of the terms "controller" and "control" used in the Financial Services and Markets Act 2000 (FSMA) controllers regime, and issues and concepts relevant to interpreting those terms. These terms are key to understanding whether a person is a controller, or a potential controller, of an authorised firm. This note forms part of a suite of notes on Part 12 of FSMA and the FSMA controllers regime. For more information, see Practice note, FSMA controllers regime: overview. | Practice notes | Maintained |
| 32 | FSMA controllers regime: ongoing obligations for authorised ... A note providing details on the obligations that apply to authorised firms in respect of their controllers under the rules of the FCA and the PRA in addition to the obligations that apply when there is a change of control of that firm. This note forms part of a suite of notes on Part 12 of FSMA and the FSMA controllers regime. For more information, see Practice note, FSMA controllers regime: overview. | Practice notes | Maintained |
| 33 | FSMA controllers regime: special regimes A note providing guidance on the special regimes relating to controllers and changes of control that apply to certain types of authorised firms that fall outside the direct scope of the controllers regime in Part 12 of the Financial Services and Markets Act 2000 (FSMA). The note also considers certain types of firms which are outside the controllers regime entirely. This note forms part of a suite of notes on Part 12 of FSMA and the FSMA controllers regime. For more information, see Practice note, FSMA controllers regime: overview. | Practice notes | Maintained |
| 34 | FSMA threshold conditions: introduction An introduction to the threshold conditions set out in Schedule 6 to the Financial Services and Markets Act 2000 (FSMA). The threshold conditions are the minimum requirements that both PRA-authorised and FCA-authorised firms need to meet in order to become and remain authorised. | Practice notes | Maintained |
| 35 | Inquiries and investigations into regulatory failure An overview of the provisions in Part 5 of the Financial Services Act 2012 relating to investigations into specific regulatory failures by the FCA and the PRA and independent inquiries arranged by HM Treasury into failures in the regulatory regime. This note is part of a series of notes relating to the new financial services regulatory structure. For more information, see Practice note, A guide to the new UK financial services regulatory structure: index. | Practice notes | Maintained |
| 36 | Key differences between the CCA and FSMA regimes The OFT's consumer credit regime under the Consumer Credit Act 1974 (CCA) and the FSA's financial services regime under the Financial Services and Markets Act 2000 (FSMA) are two very different regulatory regimes. These regulators have different statutory powers and different ways of regulating. This note outlines the key differences between the two regimes. It reflects the position as at December 2010. Changes to the regulatory regimes under the CCA and FSMA made after December 2010 are outside the scope of this note. | Practice notes | 10-Mar-2013 |
| 37 | Legislation tracker: Financial Services (Banking Reform) Bill This legislation tracker monitors the legislative progress of the Financial Services (Banking Reform) Bill (Banking Reform Bill). It covers the pre-legislative progress of the Bill, as well as its Parliamentary progress from first reading to Royal Assent. For more information on the Banking Reform Bill, see Practice note, Hot topics: Banking Reform Bill. | Practice notes | Maintained |
| 38 | Legislation tracker: Financial Services Act 2010 This legislation tracker monitors the progress of the Financial Services Act 2010 (FS Act) which received Royal Assent on 8 April 2010 and the statutory instruments to be made under the FS Act. For more information on the FS Act, see Practice note, Financial Services Act 2010. | Practice notes | 31-Dec-2010 |
| 39 | Legislation tracker: Financial Services Act 2012 This legislation tracker monitored the legislative progress of the Financial Services Act 2012 (FS Act), the primary legislation relating to the government's reforms of the UK financial services regulatory structure, which took effect on 1 April 2013. For more information about the FS Act, see Practice note, Financial Services Act 2012. This practice note is part of a series of notes relating to the new UK financial services regulatory structure. For more information, see Practice note, A guide to the new UK financial services regulatory structure: index | Practice notes | 19-Dec-2012 |
| 40 | Money Advice Service An overview of the Money Advice Service (MAS). The MAS is an independent body established under the Financial Services and Markets Act 2000 (FSMA) to enhance the general public's knowledge and understanding of financial services and their ability to manage their financial affairs. | Practice notes | Maintained |
| 41 | New UK regulatory structure: how the reforms have developed This practice note provides an overview of the development of the reforms to the UK financial services regulatory structure, involving the abolition of the FSA and the establishment of the FCA and the PRA. This document is part of a series of notes relating to the new financial services regulatory structure. For more information, see Practice note, A guide to the new UK financial services regulatory structure: index. | Practice notes | Maintained |
| 42 | New UK regulatory structure: related reforms An overview of the impact of reforms introduced by the Financial Services Act 2012 on the Financial Services Compensation Scheme (FSCS), the Financial Ombudsman Service (FOS), the Money Advice Service (MAS), the Upper Tribunal and the Financial Services Complaints Commissioner. This note is part of a series of notes relating to the new UK financial services regulatory structure. For more information, see Practice note, A guide to the new UK financial services regulatory structure: index. | Practice notes | Maintained |
| 43 | Passporting: UK consumer credit issues An overview of the interaction between the UK's consumer credit regime and passporting rights available under the recast Banking Consolidation Directive (2006/48/EC) (BCD) and the Markets in Financial Instruments Directive (2004/39/EC) (MiFID). The note considers the powers available to the OFT and the FCA in respect of those firms passporting into or out of the UK that use their BCD or MiFID passports to carry out business within the scope of the Consumer Credit Act 1974 (CCA). | Practice notes | Maintained |
| 44 | PRA supervisory model An overview of the approach that the PRA takes to the supervision of PRA-authorised firms (sometimes referred to as dual-regulated firms). This note is part of a series of notes relating to the new UK financial services regulatory structure. For more information, see Practice note, A guide to the new UK financial services regulatory structure: index. | Practice notes | Maintained |
| 45 | PRA: role, governance and powers An overview of the PRA, the UK financial services regulator responsible for the micro-prudential regulation of systemically important firms, including banks and insurers. The note considers the roles and responsibilities of the PRA, its legal status, its governance arrangements and the accountability mechanisms that apply to it. This note is part of a series of notes relating to the new UK financial services regulatory structure. For more information, see Practice note, A guide to the new UK financial services regulatory structure: index. | Practice notes | Maintained |
| 46 | Registration and regulation of mutuals An overview of the registration and regulation of UK mutual societies (that is, building societies, credit unions, friendly societies and industrial and provident societies). This note is part of a series of notes relating to the new UK financial services regulatory structure. For more information, see Practice note, A guide to the new UK financial services regulatory structure: index. | Practice notes | Maintained |
| 47 | Relationship between UKLA and the London Stock Exchange This note provides an overview of the functions of the UK Listing Authority and the London Stock Exchange in relation to applications for the listing and trading of securities. | Practice notes | 06-Apr-2011 |
| 48 | Scope of PRA regulation An overview of the scope of PRA regulation. Firms with permission to carry out PRA-regulated activities (PRA-authorised firms) are subject to dual-regulation by the PRA and the FCA. The note considers which regulated activities are PRA-regulated activities and the process the PRA will follow for designating systemically important investment firms for regulation by the PRA. This note is part of a series of notes relating to the new UK financial services regulatory structure. For more information, see Practice note, A guide to the new UK financial services regulatory structure: index. | Practice notes | Maintained |
| 49 | The role, responsibilities and powers of the FSA An overview of the role, responsibilities and powers of the FSA as at 31 March 2013, the date on which the FSA was abolished and the majority of its functions transferred to the FCA and the PRA. | Practice notes | 31-Mar-2013 |
| 50 | Threshold conditions for FCA-authorised firms A note on the threshold conditions that FCA-authorised firms must satisfy in order to become and remain authorised under the Financial Services and Markets Act 2000 (FSMA). | Practice notes | Maintained |
| 51 | Threshold conditions for PRA-authorised firms A note on the threshold conditions that PRA-authorised firms must satisfy in order to become and remain authorised under the Financial Services and Markets Act 2000 (FSMA). | Practice notes | Maintained |
| 52 | Transitional arrangements for legal cutover to FCA and PRA An overview of the transitional arrangements for the transfer of regulatory powers from the FSA to the FCA and the PRA as part of the reforms to the UK regulatory structure that took effect on 1 April 2013. This practice note is part of a series of notes relating to the new UK financial services regulatory structure. For more information, see Practice note, A guide to the new UK financial services regulatory structure: index. | Practice notes | 01-Apr-2013 |
| 53 | Treaty rights and treaty firms An overview of the rights of firms to carry on financial services activities in another member state of the European Economic Area (EEA) using rights under the Treaty of Rome. These rights apply when a firm wishes to carry out financial services activities in another EEA state, but does not have a passport available under one of the single market directives to do so. The note considers the procedures that should be followed by firms from other EEA states seeking to carry on activities in the UK using their treaty rights and UK firms seeking to use their treaty rights to carry on activities in other EEA states. | Practice notes | Maintained |
| 54 | UK implementation of the Acquisitions Directive This practice note provides an overview of how the UK authorities implemented the Acquisitions Directive (2007/44/EC). For more information about the Acquisitions Directive itself, see Practice note, Acquisitions Directive. For details of PLC Financial Services' materials on the FSMA changes of control regime, reflecting the implementation of the Acquisitions Directive, see Practice note, FSMA controllers regime: overview. | Practice notes | 28-Feb-2011 |
| 55 | Waiver and modification of rules In certain circumstances, firms and other persons subject to the rules of the FCA or the PRA may apply to the FCA or the PRA for permission to modify or waive their rules. This note deals with those circumstances, the process for applying for, varying and revoking waivers and reliance on waivers. The note also considers the waivers regime that applies to rules made by the Bank of England (BoE). | Practice notes | Maintained |