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FSBRA 2013 — Financial Services (Banking Reform) Act 2013

law · United Kingdom · ukpga/2013/33

1861 provisions

Defined terms · All instruments

1 Objectives of Prudential Regulation Authority
1
2
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5
2 Modification of objectives of Financial Conduct Authority
1
2
3
3 Amendment of PRA power of direction
4 Ring-fencing of certain activities
1
2
3
4
5
6
7
5 PRA annual report
1
2
3
6 Ring-fencing transfer schemes
7 Building societies: power to make provision about ring-fencing
1
2
3
4
8 Independent review of operation of legislation relating to ring-fencing
1
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3
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5
6
7
8
9
10
11
9 PRA review of proprietary trading
1
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9
10 Independent review of proprietary trading
1
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8
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11 Reviews of proprietary trading: interpretation
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8
12 Right to obtain documents and information
1
2
142A “Ring-fenced body”
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7
142B Core activities
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142C Core services
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142D Excluded activities
1
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7
142E Power of Treasury to impose prohibitions
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4
142F Orders under section 142A, 142B, 142D or 142E
1
2
142G Ring-fenced bodies not to carry on excluded activities or contravene prohibitions
1
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4
142H Ring-fencing rules
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8
142I Powers of Treasury in relation to ring-fencing rules
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142J Review of ring-fencing rules etc
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142K Cases in which group restructuring powers become exercisable
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142L Group restructuring powers
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142M Procedure: preliminary notices
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142N Procedure: warning notice and decision notice
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9
142O References to Tribunal
1
2
142P Subsequent variation of requirement or direction
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3
142Q Consultation etc. between regulators
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3
142R Relationship with regulators' powers under Parts 4A and 12A
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7
142S Power to impose penalty or issue censure
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142T Procedure and right to refer to Tribunal
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142U Duty on publication of statement
142V Imposition of penalties under section 142S: statement of policy
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9
142W Pension liabilities
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142X Further interpretative provisions for section 142W
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142Y Power of Treasury in relation to loss-absorbency requirements
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142Z Affirmative procedure in relation to certain orders under Part 9B
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142Z1 Interpretation of Part 9B
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13 Preferential debts: Great Britain
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4
14 Discharge of functions by the scheme manager
1
2
15 Power to require information from scheme manager
16 Scheme manager: appointment of accounting officer
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3
17 Bail-in stabilisation option
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18 Functions for which approval is required
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19 Senior management functions
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20 Statements of responsibilities
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21 Vetting by relevant authorised persons of candidates for approval
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22 Determination of applications for approval
23 Power to give approval subject to conditions or for limited period
1
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7
24 Changes in responsibilities of senior managers
1
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25 Duty to notify regulator of grounds for withdrawal of approval
2A
26 Variation of approval
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8
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6
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14
27 Statement of policy
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6
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8
28 Extension of limitation periods for imposing sanctions
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6
29 Certification of employees by relevant authorised persons
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8
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10
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8
30 Rules of conduct
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3
31 Requirement to notify regulator of disciplinary action
1
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5
32 Definition of “misconduct”
1
2
33 Meaning of “relevant authorised person”
34 Recording information about senior managers
1
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4
35 Consequential amendments relating to Part 4
36 Offence relating to a decision causing a financial institution to fail
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4
37 Section 36: interpretation
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11
38 Institution of proceedings
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39 Overview
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8
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11
11A
12
13
40 The Payment Systems Regulator
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5
41 Meaning of “payment system”
1
2
2A
2B
2C
3
4
42 Participants in payment systems etc
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5
5A
6
7
8
43 Designation orders
1
2
44 Designation criteria
1
2
45 Procedure
1
2
46 Amendment of designation order
1
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47 Revocation of designation orders
1
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4
48 Publication
1
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3
49 Regulator's general duties in relation to payment systems
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4
50 The competition objective
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3
51 The innovation objective
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2
52 The service-user objective
53 Regulatory principles
54 Directions
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55 System rules
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56 Power to require granting of access to payment systems
1
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57 Variation of agreements relating to payment systems
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58 Power to require disposal of interest in payment system
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2A
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5
59 The Regulator's functions under Part 4 of the Enterprise Act 2002
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60 Restrictions on exercise of functions under Part 4 of the Enterprise Act 2002
1
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61 The Regulator's functions under the Competition Act 1998
1
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6
62 Duty to consider exercise of powers under Competition Act 1998
1
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3
63 Provision of information and assistance to a CMA group
1
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5
64 Function of keeping markets under review
1
2
65 Exclusion of general duties
1
2
66 Concurrent competition powers: supplementary provision
1
2
67 Amendments relating to Regulator's competition powers
1
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5
68 Complaints by representative bodies
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6
69 Response by Regulator
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70 Complaints: guidance
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2
71 Meaning of “compliance failure”
72 Publication of compliance failures etc
1
2
73 Penalties
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4
74 Warning notices
1
2
75 Injunctions
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5
76 Appeals: general
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9
77 Appeals to Competition Appeal Tribunal
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78 Appeals in relation to penalties
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9
79 Appeals to Competition and Markets Authority
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80 Enforcement of requirement to dispose of interest in payment system
1
2
81 Power to obtain information or documents
1
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82 Reports by skilled persons
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8
83 Appointment of persons to conduct investigations
1
2
84 Investigations: general
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9
85 Powers of persons appointed under section 83
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86 Information and documents: supplemental provisions
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87 Admissibility of statements made to investigators
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88 Entry of premises under warrant
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89 Retention of documents taken under section 88
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90 Enforcement of information and investigation powers
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9
91 Restrictions on disclosure of confidential information
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92 Exemptions from section 91
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93 Offences relating to disclosure of confidential information
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94 Information received from Bank of England
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95 Disclosure of information by Bank to Regulator
96 Guidance
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97 Reports
97A Technical standards
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4
97B Standards instruments
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97C Treasury approval
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97D Application of section 104 of this Act and Part 9A of the Financial Services and Markets Act 2000
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98 Duty of regulators to ensure co-ordinated exercise of functions
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99 Memorandum of understanding
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100 Power of Bank to require Regulator to refrain from specified action
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101 Power of FCA to require Regulator to refrain from specified action
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102 Power of PRA to require Regulator to refrain from specified action
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102A Recommendations by Treasury in connection with general duties
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102B Matters to consider when imposing generally applicable requirements
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103 Regulator's general duty to consult
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5A
5B
5C
6
104 Consultation in relation to generally applicable requirements
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5A
5B
5C
5D
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12A
12B
104A Requirements in connection with public consultations
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104B Duty of Regulator to review generally applicable requirements
104C Statement of policy relating to review of requirements
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104D Requirement to review specified requirements
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104E Report on certain reviews
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104F Power of Treasury to require the imposition of generally applicable requirements
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104G Consultation with the FCA Cost Benefit Analysis Panel
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104H Statement of policy in relation to cost benefit analyses
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104I Statement of policy on panel appointments
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105 Independent inquiries
1
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106 Investigations into regulatory failure
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8
107 Competition scrutiny
1
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107A International trade obligations
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9
108 Relationship with Part 8 of the Payment Services Regulations 2017
1
2
109 Exemption from liability in damages for FCA and PRA
1
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110 Interpretation of Part
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111 Financial market and cash infrastructure administration
112 Interpretation: infrastructure companies
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113 Interpretation: other expressions
1
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114 FMI administration orders
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115 Objective of FMI administration
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1A
1B
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116 Application for FMI administration order
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117 Powers of court
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118 FMI administrators
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119 Continuity of supply
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120 Power to direct FMI administrator
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121 Conduct of administration, transfer schemes etc.
1
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122 Restriction on winding-up orders and voluntary winding up
1
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123 Restriction on making of ordinary administration orders
1
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124 Restriction on enforcement of security
124A Powers of Bank to participate in Part 26A proceedings
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125 Loans
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126 Indemnities
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127 Interpretation of Part
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128 Northern Ireland
1
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129 Functions of FCA under competition legislation
130 Competition as a secondary objective of the PRA
1
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3
131 Duty of FCA to make rules restricting charges for high-cost short-term credit
1
2
3
132 Role of FCA Consumer Panel in relation to PRA
5A
5B
133 Power of FCA and PRA to make rules applying to parent undertakings
1
2
134 Duty to meet auditors of certain institutions
1
2
3
135 Fees to meet Treasury expenditure relating to international organisations
1
2
136 Amendments of section 429 of FSMA 2000
1
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4
5
137 Accounts of Bank of England and its wholly-owned subsidiaries
1
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3
138 Building societies
139 Power to impose penalties on persons providing claims management services
140 Recovery of expenditure incurred by Office for Legal Complaints
141 Minor amendments
142 Orders and regulations: general
1
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3
143 Orders and regulations: Parliamentary control
1
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144 Interpretation
145 Power to make further consequential amendments
1
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146 Transitional provisions and savings
1
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147 Extent
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148 Commencement and short title
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7
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5
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8
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9
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10
1
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3
11
12
13
1
2
1
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3
9B Appropriate certificates
1
2
9C Certificate as to financial resources
1
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3
9D Certificate as to consent of home state regulator
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2
1
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9
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8A
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1A
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25
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26
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29
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30
4A
31
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33
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6
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7
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7A
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9
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9A
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10
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11
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12
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14
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14A
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14B
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16
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10
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11
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13
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14
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15
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16
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18
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2A
7
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12
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15
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16
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18
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