This Statutory Instrument has been made in consequence of a defect in S.I. 2014/1195 and is being issued free of charge to all known recipients of that Statutory Instrument.
Statutory Instruments
2026 No. 726
FINANCIAL SERVICES AND MARKETS
The Financial Services Act 2012 (Relevant Functions in relation to Complaints Scheme) (Amendment) Order 2026
Made
1st July 2026
Laid before Parliament
2nd July 2026
Coming into force
23rd July 2026
The Treasury make this Order in exercise of the power conferred by section 85(2)(b) of the Financial Services Act 2012(1).
Citation, commencement and extent
1.—(1) This Order may be cited as the Financial Services Act 2012 (Relevant Functions in relation to Complaints Scheme) (Amendment) Order 2026 and comes into force on 23rd July 2026.
(2) This Order extends to England and Wales, Scotland and Northern Ireland.
Amendments to the Financial Services Act 2012 (Relevant Functions in relation to Complaints Scheme) Order 2014
2.—(1) The Financial Services Act 2012 (Relevant Functions in relation to Complaints Scheme) Order 2014(2) is amended as follows.
(2) In article 2 (relevant functions of the FCA)(3)—
(a)in paragraph (e), for “functions under regulation 32 (guidance) of those Regulations” substitute “function of giving guidance under paragraph 7 of Schedule 1 and its function of preparing and issuing a statement of policy under paragraph 14 of Schedule 1”;
(b)after paragraph (h), insert—
“(i)its functions under the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017(4), other than its function of making technical standards under regulation 20(6) and its function of giving guidance under regulation 48(1).”.
(3) For article 3 (relevant functions of the PRA)(5) substitute—
Relevant functions of the PRA
3. The following functions of the PRA are relevant functions for the purposes of section 85(2) of the Financial Services Act 2012—
(a)its functions under the Financial Services and Markets Act 2000 (Markets in Financial Instruments) Regulations 2017(6), other than its function of preparing and issuing a statement of policy under paragraph 14 of Schedule 1;
(b)its functions under the Securitisation Regulations 2024(7).”.
Christian Wakeford
Lilian Greenwood
Two of the Lords Commissioners of His Majesty’s Treasury
1st July 2026
2012 c. 21; section 85(2) was substituted by the Financial Services (Banking Reform) Act 2013 (c. 33), Schedule 10, paragraph 10(2).
Article 2(e) was inserted by S.I. 2017/701. There are other amendments to article 2 which are not relevant to this Order.
S.I. 2017/692; regulation 20(6) was inserted by S.I. 2019/253. There are other amendments to regulation 20 which are not relevant to this Order.
Article 3 was inserted by S.I. 2017/701 and amended by S.I. 2018/1288, 2024/705.
S.I. 2024/102, as amended by S.I. 2024/705, 1202.