Financial Services Act 2012

Financial Services Act 2012
Dates
United Kingdom Parliament
Long title	An Act to amend the Bank of England Act 1998, the Financial Services and Markets Act 2000 and the Banking Act 2009; to make other provision about financial services and markets; to make provision about the exercise of certain statutory functions relating to building societies, friendly societies and other mutual societies; to amend section 785 of the Companies Act 2006; to make provision enabling the Director of Savings to provide services to other public bodies; and for connected purposes.
Citation	2012 c. 21
Territorial extent	England and Wales, Scotland and Northern Ireland
Royal assent	19th December 2012
Other legislation
Relates to	Financial Services and Markets Act 2000
Text of statute as originally enacted
Text of the Financial Services Act 2012 as in force today (including any amendments) within the United Kingdom, from legislation.gov.uk

The Financial Services Act 2012 is an Act of the Parliament of the United Kingdom which implements a new regulatory framework for the financial system and financial services in the UK. It replaces the Financial Services Authority with two new regulators, namely the Financial Conduct Authority and the Prudential Regulation Authority, and creates the Financial Policy Committee of the Bank of England. This framework went into effect on April 1, 2013.^[1]

Its main effect is to amend the Financial Services and Markets Act 2000.

Provisions

Under the Act, the administration of Libor became a regulated activity overseen by the Financial Conduct Authority.^[2] Knowingly or deliberately making false or misleading statements in relation to benchmark-setting became a criminal offence.^[3] Laws relating to charitable industrial and provident societies were revised.

Notes

↑ Roberts, Jeffery; Tran, Edward (24 March 2013). "Financial Services Act 2012: A New UK Financial Regulatory Framework". Havard Law School Forum on Corporate Governance and Financial Regulation. Archived from the original on 9 February 2014. Retrieved 9 February 2014. /
↑ https://www.gov.uk/government/news/financial-services-bill-receives-royal-assent
↑ http://www.publications.parliament.uk/pa/cm201213/cmgeneral/deleg4/130226/130226s01.htm

External links

United Kingdom legislation

Pre-Parliamentary legislation	List of English statutes Charter of Liberties Magna Carta

Acts of Parliament by states preceding the Kingdom of Great Britain	Acts of the Parliament of England to 1483 1485–1601 1603–1641 Interregnum (1642–1660) 1660–1699 1700–1706 Acts of the Parliament of Scotland

Acts of Parliament of the Kingdom of Great Britain	1707–1719 1720–1739 1740–1759 1760–1779 1780–1800

Acts of the Parliament of Ireland	to 1700 1701–1800

Acts of Parliament of the United Kingdom of Great Britain and Ireland and the United Kingdom of Great Britain and Northern Ireland	1801–1819 1820–1839 1840–1859 1860–1879 1880–1899 1900–1919 1920–1939 1940–1959 1960–1979 1980–1999 2000 to date Halsbury's Statutes Legislation.gov.uk Short titles

Church of England measures	List Church of England Assembly (Powers) Act 1919

Legislation of devolved institutions	Acts of the Scottish Parliament List Acts and Measures of the National Assembly for Wales List Acts of the Northern Ireland Assembly List Acts of the Parliament of Northern Ireland List Orders in Council for Northern Ireland List

Orders-in-Council	Order in Council

Secondary legislation	United Kingdom Statutory Instruments Scottish Statutory Instruments Acts of Sederunt Acts of Adjournal

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Financial Services Act 2012

Provisions

See also

Notes

External links