Examples of FSM Act in a sentence
The major participating members of the LBMA are regulated by the FCA in the United Kingdom under the FSM Act.
When the FSM Act comes into force, it will, amongst others, introduce a harmonised and expanded power for the MAS to issue prohibition orders against persons who are not fit and proper from engaging in financial activities regulated by the MAS or performing any key roles of functions in the financial industry that are prescribed, in order to protect a financial institution’s customers, investors or the financial sector.
The Guide is divided into 22 sections which cover all parts of the FSM Act.
The Financial Services Compensation Scheme (FSCS) became operational under the Financial Services Market (FSM) Act 2000 as an independent government legislated and administered body in 2001.
This Guide summarises, in bullet point fashion:• the sections of the Financial Services and Markets Act 2000, broadly following the order in the FSM Act; and• the principal Statutory Instruments made to implement FSM Act;• FSA’s Consultation Papers, and similar material, which contain draft rules and other proposals.
The FSM Act, which will come into operation on a date to be appointed, enhances the MAS regulatory and enforcement framework across the financial sector, alongside the specific rules designed for each segment of the sector.
Specified in FSM Act 2000 (Regulated Activities) Order 2001/544 as amended by the Regulated Activities (Amendment) Order 2001/3544 (see 2.2.2).• Carried on by way of business (s22) - Treasury may define (s419) by SI requiring positive resolution (s429).
Prosecutions of Offenders are most likely dealt with accordingly to Marine Resource Title 24 of FSM Act.
Also, firm may not provide services until received formal notice (amended by Financial Services (EEA Passport Rights) Regulations 2001 No. 1376).No fee for Sch 1 paras 19 or 20 (Sch 1 para 18).Treasury may make regulations governing passporting out activities, including application of FSM Act (Sch 3 para 22).Rules and guidance relating to a UK firm passporting out are contained in SUP13.
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