Financial Services Act 2012
The Financial Services Act 2012 is an Act of the Parliament of the United Kingdom which implements a new regulatory framework for the financial system and financial services in the UK. It replaces the Financial Services Authority with two new regulators, namely the 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.
|Long title||An Act to amend the Bank of England Act 1998, the Financial Services and Markets Act 2000 and the Banking Act 2009; to make other provision about financial services and markets; to make provision about the exercise of certain statutory functions relating to building societies, friendly societies and other mutual societies; to amend section 785 of the Companies Act 2006; to make provision enabling the Director of Savings to provide services to other public bodies; and for connected purposes.|
|Citation||2012 c. 21|
|Territorial extent||England and Wales, Scotland and Northern Ireland|
|Royal assent||19 December 2012|
|Relates to||Financial Services and Markets Act 2000|
|Text of statute as originally enacted|
|Text of the Financial Services Act 2012 as in force today (including any amendments) within the United Kingdom, from legislation.gov.uk.|
Its main effect is to amend the Financial Services and Markets Act 2000.