Financial Services Bill 2010

The last Regulatory Roundup provided an update on the progress of the Financial Services Bill 2010 which amends FSMA 2000.

Possibly as a result of the ‘wash-up’ process following the announcement of the date of the General Election, the Bill received Royal Assent on 8th April.

Its many features include expanding the FSA objectives to include a financial stability objective and moving its consumer education objective to a new consumer financial education body. Greater power is also given to the FSA on the matters of firms’ remuneration policies and the prohibition of short selling.

The links will take you to the Act and an FSA statement.