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The Financial Services Act 2012
Financial Services Act 2012
is an Act of the Parliament of the United Kingdom
United Kingdom
which implements a new regulatory framework for the financial system and financial services in the UK. It replaces the Financial Services Authority
Financial Services Authority
with two new regulators, namely the Financial Conduct Authority
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 1 April 2013.[1] Its main effect is to amend the Financial Services and Markets Act 2000.

Contents

1 Provisions 2 See also 3 Notes 4 External links

Provisions[edit] Under the Act, the administration of Libor
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. See also[edit]

UK company law EU law

Notes[edit]

^ 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 ^ https://publications.parliament.uk/pa/cm201213/cmgeneral/deleg4/130226/130226s01.htm

External links[edit]

UK Government Press Release UK Government Policy: Improving regulation of the financial sector to protect customers and the economy UK Parliament Committee debates Libor
Libor
and the Financial Services Act UK Parliament Bills & legislation

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