The Financial Services and Markets Act 2000 (Designated Activities) (Supervision and Enforcement) Regulations 2025
Introduction
The Financial Services and Markets Act 2000 (Designated Activities) (Supervision and Enforcement) Regulations 2025 (the “Regulations”) are a new set of regulations that will come into force on 14th January 2025. The Regulations will update the current regime for the supervision and enforcement of designated activities under the Financial Services and Markets Act 2000 (the “FSMA”).
Key Changes
The Regulations will make a number of key changes to the current regime, including:
- Expanding the scope of designated activities: The Regulations will expand the scope of designated activities to include a number of new activities, such as:
- The operation of a multilateral trading facility
- The provision of investment advice
- The management of a collective investment scheme
- Introducing a new risk-based approach to supervision: The Regulations will introduce a new risk-based approach to supervision, which will see the FCA focus its resources on firms that pose the greatest risk to consumers.
- Strengthening the FCA’s enforcement powers: The Regulations will strengthen the FCA’s enforcement powers, including giving it the power to:
- Impose higher fines
- Suspend or revoke licences
- Disqualify directors
Impact of the Regulations
The Regulations will have a significant impact on the financial services industry. Firms that carry out designated activities will need to review their operations to ensure that they comply with the new requirements. The Regulations will also give the FCA greater powers to supervise and enforce the FSMA, which could lead to an increase in enforcement actions.
Conclusion
The Regulations are a significant piece of legislation that will have a major impact on the financial services industry. Firms that carry out designated activities should review their operations to ensure that they comply with the new requirements.
The Financial Services and Markets Act 2000 (Designated Activities) (Supervision and Enforcement) Regulations 2025
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UK New Legislation a new article on 2025-01-14 09:21 titled “The Financial Services and Markets Act 2000 (Designated Activities) (Supervision and Enforcement) Regulations 2025”. Please write a detailed article on this news item, including any relevant information. Answers should be in English.
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