408.Section 36 makes amendments to Part 18A of FSMA to confer on the FCA the FSA’s functions under that Part.
409.Part 18A implements certain requirements set out in the Markets in Financial Instruments Directive (Directive 2004/39/EC). The power conferred under Part 18A will enable the FCA to require an institution to suspend or remove a financial instrument from trading in order to protect the interests of investors or the orderly functioning of the financial markets (section 313A).