2.—(1) This regulation applies to appoint days for the coming into force of section 21 of and Schedule 4 to the Act (extension of relevant authorised person regime in Part 5 of FSMA to all authorised persons) so far as those provisions are not brought into force by the Bank of England and Financial Services Act 2016 (Commencement No. 5 and Transitional Provisions) Regulations 2018(1).
(2) The day appointed for the coming into force of section 21 of and Schedule 4 to the Act for the purpose of the making of rules, the giving of directions, the imposition of requirements and the issuing of statements of policy by the FCA is the day after the day on which these Regulations are made.
(3) 9th August 2019 is the day appointed for the coming into force of section 21 of and Schedule 4 to the Act for remaining purposes in relation to authorised persons who are not solo-regulated firms.
(4) 9th December 2019 is the day appointed for the coming into force of section 21 of and Schedule 4 to the Act for remaining purposes in relation to solo-regulated firms other than benchmark firms, except as provided by paragraph (6).
(5) 7th December 2020 is the day appointed for the coming into force of section 21 of and Schedule 4 to the Act for remaining purposes in relation to benchmark firms, except as provided by paragraph (7).
(6) [F131st March 2021] is the day appointed for the coming into force of the employee certification provisions for remaining purposes in relation to solo-regulated firms other than benchmark firms.
(7) 7th December 2021 is the day appointed for the coming into force of the employee certification provisions for remaining purposes in relation to benchmark firms.
(8) In paragraphs (6) and (7), “the employee certification provisions” means—
(a)paragraph 11 of Schedule 4 to the Act (amendments to section 63E of FSMA: certification of employees), and
(b)paragraphs 18 and 22(5) of that Schedule (repeal of section 71A of FSMA: definition of “relevant authorised person”) so far as section 71A of FSMA(2) defines “relevant authorised person” for the purposes of section 63E of FSMA(3).
Textual Amendments
F1Words in reg. 2(6) substituted (1.9.2020) by The Bank of England and Financial Services Act 2016 (Commencement No. 6 and Transitional Provisions) (Amendment) Regulations 2020 (S.I. 2020/929), reg. 2(2)
Commencement Information
I1Reg. 2 in force at 17.7.2019
Section 71A was inserted by section 33 of the Financial Services (Banking Reform) Act 2013.
Section 63E was inserted by section 29 of the Financial Services (Banking Reform) Act 2013 and amended by article 91(4) of the Financial Services and Markets Act 2000 (Claims Management Activity) Order 2018 (S.I. 2018/1253).