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Financial Services Act 2010 (Version in vigour from 2021-04-06 to )

Consolidated Text As Enacted Cited authorities 78 Cited in Related
Vincent
CurrencyNo known outstanding effects
Coming into Force06 April 2021
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    • (1) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .(2) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .(3) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .(4) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .(5) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .(6) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .(7) If members of staff of the FSA are transferred to the consumer financial education body, the transfer is to be regarded for the purposes of TUPE as a relevant transfer, whether or not it would otherwise be so regarded.(8) In subsection (7) —
    • “the consumer financial education body” has the same meaning as in section 6A of the Financial Services and Markets Act 2000,
    • “the FSA” means the Financial Services Authority, and
    • “TUPE” means the Transfer of Undertakings (Protection of Employment) Regulations 2006.
    (1) The Financial Services and Markets Act 2000 is amended as follows.(2) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .(3) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .(4) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .in subsection (1) , for paragraph (c) substitute—
    • (c) it is desirable to exercise the power in order to meet any of its regulatory objectives.
    , and    it is desirable to exercise the power in order to meet any of its regulatory objectives.after that subsection insert—
    • “(1A) For the purposes of subsection (1) (c) it does not matter whether there is a relationship between the incoming firm and the persons whose interests will be protected by the exercise of the power of intervention.
    For the purposes of subsection (1) (c) it does not matter whether there is a relationship between the incoming firm and the persons whose interests will be protected by the exercise of the power of intervention.(1) The Treasury may make provision by regulations about the preparation, approval and disclosure of executives' remuneration reports.the remuneration of relevant executives of an authorised person, oranything connected with the remuneration of relevant executives of an authorised person.officers of the authorised person,employees of the authorised person who fall within a prescribed description, andother individuals who have a prescribed connection with the authorised person.individuals who provide services, or whose services are provided (directly or indirectly) , to the authorised person, orindividuals who are officers or employees of a member of the same group as the authorised person.(5) Regulations under this section may apply in relation to a prescribed description of authorised person.(6) Regulations under this section are subject to affirmative resolution procedure.the information that must be contained in an executives' remuneration report,how information is to be set out in the report, andwhat is to be the auditable part of the report.information corresponding to information that could be required by regulations under section 421 of the Companies Act 2006 to be contained in a directors' remuneration report, andinformation comparing the remuneration of relevant executives of an authorised person with the remuneration of employees of the authorised person who fall within a prescribed description.for the filing of executives' remuneration reports with the registrar of companies for any part of the United Kingdom or with the FSA, andfor the publication by the FSA of reports filed with it.(4) Regulations under section 4 may apply any provision made by or under the Companies Act 2006 relating to directors' remuneration reports, subject to such exceptions, adaptations and modifications as the

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