UK:
UK Government Grants Further Disciplinary Powers To UK Regulator
25 November 2015
Shearman & Sterling LLP
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On November 5, 2015, HM Treasury published the Financial
Services and Markets Act 2000 (Misconduct and Appropriate
Regulator) Order 2015 which amends the Financial Services and
Markets Act 2000. The Order, amongst other things, grants the FCA
with disciplinary powers over individuals working in financial
services firms, and when there has been a breach of the Alternative
Investment Fund Managers Regulations 2013 by a firm. The Order
enters into force on March 7, 2016 (excluding Articles 2 and 3(4)
of the Order which enter into force on March 7, 2017).
The Order and Explanatory Note are available at: http://www.legislation.gov.uk/uksi/2015/1864/contents/made.
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
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