Financial Services and Markets Act 2000 (UK)
Financial Services and Markets Act 2000 (UK) core duties: the general prohibition, financial promotion restriction, threshold conditions, the Senior Managers and Certification Regime, and the controller change of control approval regime. FCA Handbook and PRA Rulebook rules are not built.
Financial Services and Markets Act 2000 (UK) is a compliance framework from United Kingdom with 6 domains and 13 controls. The largest domains are Approval, the Senior Managers Regime and the Certification Regime (Part 5, ss 59 to 66A) – Financial Services and Markets Act 2000 (UK) (6 controls), Control over authorised persons: change of control approval regime (Part 12) – Financial Services and Markets Act 2000 (UK) (3 controls), Notification duties on ceasing to perform, or losing fitness for, an approved or certified function – Financial Services and Markets Act 2000 (UK) (1 controls). Every control below carries what it requires and what an assessor expects to see.
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Framework Domains (6)
Approval, the Senior Managers Regime and the Certification Regime (Part 5, ss 59 to 66A) – Financial Services and Markets Act 2000 (UK)
| Code | Title |
|---|---|
| financial-services-and-markets-act-2000-uk::s59 | Approval required before performing a senior management function |
| financial-services-and-markets-act-2000-uk::s60 | Applications for approval |
| financial-services-and-markets-act-2000-uk::s61 | Determination of applications: the fit and proper test |
| financial-services-and-markets-act-2000-uk::s63 | Withdrawal of approval |
| financial-services-and-markets-act-2000-uk::s63e | The Certification Regime: annual fitness and propriety certification |
| financial-services-and-markets-act-2000-uk::s66a | Statutory duty of responsibility |
Control over authorised persons: change of control approval regime (Part 12) – Financial Services and Markets Act 2000 (UK)
| Code | Title |
|---|---|
| financial-services-and-markets-act-2000-uk::p12acquire | Duty to notify and obtain approval before acquiring or increasing control |
| financial-services-and-markets-act-2000-uk::p12decrease | Duty to notify on decreasing or ceasing control |
| financial-services-and-markets-act-2000-uk::p12object | Regulator's power to object to, or impose conditions on, a change in control |
Notification duties on ceasing to perform, or losing fitness for, an approved or certified function – Financial Services and Markets Act 2000 (UK)
| Code | Title |
|---|---|
| financial-services-and-markets-act-2000-uk::notify | Duty to notify the regulator on ceasing to perform, or losing fitness for, an approved or certified function |
Restriction on financial promotion (s 21) – Financial Services and Markets Act 2000 (UK)
| Code | Title |
|---|---|
| financial-services-and-markets-act-2000-uk::s21 | Restriction on financial promotion |
The general prohibition (s 19) – Financial Services and Markets Act 2000 (UK)
| Code | Title |
|---|---|
| financial-services-and-markets-act-2000-uk::s19 | The general prohibition: authorisation required to carry on a regulated activity in the UK |
Threshold conditions (Sch 6) – Financial Services and Markets Act 2000 (UK)
| Code | Title |
|---|---|
| financial-services-and-markets-act-2000-uk::sch6 | Threshold conditions: initial and continuing suitability for authorisation |
What is Financial Services and Markets Act 2000 (UK) and who does it apply to?
Financial Services and Markets Act 2000 (UK) is a compliance framework from United Kingdom with 6 domains and 13 controls. Financial Services and Markets Act 2000 (UK) core duties: the general prohibition, financial promotion restriction, threshold conditions, the Senior Managers and Certification Regime, and the controller change of control approval regime. FCA Handbook and PRA Rulebook rules are not built. It is used by organisations to establish and maintain compliance with industry standards and regulatory requirements.
What does Financial Services and Markets Act 2000 (UK) actually require?
Financial Services and Markets Act 2000 (UK) has 13 controls organised across 6 domains. The largest domains are Approval, the Senior Managers Regime and the Certification Regime (Part 5, ss 59 to 66A) – Financial Services and Markets Act 2000 (UK) (6 controls), Control over authorised persons: change of control approval regime (Part 12) – Financial Services and Markets Act 2000 (UK) (3 controls), Notification duties on ceasing to perform, or losing fitness for, an approved or certified function – Financial Services and Markets Act 2000 (UK) (1 controls). Each control defines specific requirements that organisations must implement to achieve compliance.
If I already comply with another framework, how much of Financial Services and Markets Act 2000 (UK) do I already cover?
Financial Services and Markets Act 2000 (UK) does not currently have cross-framework mappings in our system. Check back as we continuously expand our mapping database.
How do I implement Financial Services and Markets Act 2000 (UK)?
Start your Financial Services and Markets Act 2000 (UK) compliance journey by running a self-assessment on our platform to identify your current compliance posture. Our AI advisory can answer specific questions about Financial Services and Markets Act 2000 (UK) requirements, and cross-framework mapping helps you leverage existing controls from other frameworks you may already comply with. Create a free account to access all 13 controls and track your progress.
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