The Financial Services and Markets Act 2000 (Ring-fenced Bodies, Core Activities, Excluded Activities and Prohibitions) (Amendment) Order 2025
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Change 1
Title and introductory text
2025 No. 30 Banks And Banking The Financial Services and Markets Act 2000 (Ring-fenced Bodies, Core Activities, Excluded Activities and Prohibitions) (Amendment) Order 2025 Made 13th January 2025 Coming into force 4th February 2025 The Treasury make this Order in exercise of the powers conferred by sections 142A(2)(b) and (6), 142B(2), 142D(2), 142E(1) and (4), 142F and 428(3) of the Financial Services and Markets Act 2000, being of the opinion— (a) in connection with the exercise of the power in section 142A(2)(b), that the exemption conferred by this Order would not be likely to have a significant adverse effect on the continuity of the provision in the United Kingdom of core services; (b) in connection with the exercise of the power conferred by section 142B(2), that it is not necessary for the purposes set out in section 142B(4) that the regulated activity of accepting deposits should be a core activity when carried on in the circumstances specified in this Order; (c) in connection with the exercise of the power conferred by section 142D(2), that allowing ring-fenced bodies to deal in investments as principal in the circumstances specified in this Order would not be likely to result in any significant adverse effect on the continuity of the provision in the United Kingdom of core services; (d) in connection with the exercise of the power conferred by section 142E(1), that the making of this Order is necessary or expedient for the purpose of protecting the continuity of the provision in the United Kingdom of core services; and having had regard to the desirability of minimising any adverse effect that the ring-fencing provisions might be expected to have on competition in the market for services provided in the course of carrying on core activities, and to the risks to which a ring-fenced body would be exposed if it did the things to which the prohibitions in this Order relate and considered whether the doing of the things to which the prohibition relates would make it more likely that the failure of the ring-fenced body would have an adverse effect on the continuity of the provision in the United Kingdom of core services. A draft of this Order has been laid before Parliament and approved by resolution of each House of Parliament in accordance with section 142Z(2) of the Financial Services and Markets Act 2000.
Title and introductory text
2025 No. 30 Banks And Banking The Financial Services and Markets Act 2000 (Ring-fenced Bodies, Core Activities, Excluded Activities and Prohibitions) (Amendment) Order 2025 Made 13th January 2025 Coming into force 4th February 2025 The Treasury make this Order in exercise of the powers conferred by sections 142A(2)(b) and (6), 142B(2), 142D(2), 142E(1) and (4), 142F and 428(3) of the Financial Services and Markets Act 2000, being of the opinion— (a) in connection with the exercise of the power in section 142A(2)(b), that the exemption conferred by this Order would not be likely to have a significant adverse effect on the continuity of the provision in the United Kingdom of core services; (b) in connection with the exercise of the power conferred by section 142B(2), that it is not necessary for the purposes set out in section 142B(4) that the regulated activity of accepting deposits should be a core activity when carried on in the circumstances specified in this Order; (c) in connection with the exercise of the power conferred by section 142D(2), that allowing ring-fenced bodies to deal in investments as principal in the circumstances specified in this Order would not be likely to result in any significant adverse effect on the continuity of the provision in the United Kingdom of core services; (d) in connection with the exercise of the power conferred by section 142E(1), that the making of this Order is necessary or expedient for the purpose of protecting the continuity of the provision in the United Kingdom of core services; and having had regard to the desirability of minimising any adverse effect that the ring-fencing provisions might be expected to have on competition in the market for services provided in the course of carrying on core activities, and to the risks to which a ring-fenced body would be exposed if it did the things to which the prohibitions in this Order relate and considered whether the doing of the things to which the prohibition relates would make it more likely that the failure of the ring-fenced body would have an adverse effect on the continuity of the provision in the United Kingdom of core services. A draft of this Order has been laid before Parliament and approved by resolution of each House of Parliament in accordance with section 142Z(2) of the Financial Services and Markets Act 2000.
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