Treasury has published more statutory instruments implementing the Financial Services Act 2012 (FS Act):

  • the FS Act (Transitional Provisions) (Enforcement) Order 2013 takes effect from 1 April 2013 and provides for decisions on various disciplinary and enforcement matters and penalty decisions that have not been determined by Legal Cut Over (LCO – 1 April) to pass over to the appropriate new regulator;
  • the FS Act (Transitional Provisions) (Miscellaneous Provisions) Order 2013 will take effect partly on 25 March but mainly on 1 April 2013 and deals with various issues, including the annual reports of the new regulators and panels, control of business transfers, hearings and appeals, information gathering and investigation, notices of control over authorised persons, and applications from investment exchanges and clearing houses; and
  • the FS Act (Transitional Provisions) (Permission and Approval) Order 2013 again takes effect on 1 April 2013 and grandfathers over permissions and approvals to the new regulators.

(Source: FS Act (Transitional Provisions) (Enforcement) Order 2013, FS Act (Transitional Provisions) (Miscellaneous Provisions) Order 2013 and FS Act (Transitional Provisions) (Permission and Approval) Order 2013)