|
FINANCIAL SERVICES AND
MARKETS ACT 2000:
RIGHTS OF ACTION- A CONSULTATION
DOCUMENT
DECEMBER 2000
back
to contents
PREFACE
The Financial
Services and Markets Act 2000 (FSMA), which received Royal
Assent on 14 June 2000, establishes a new single regime for the statutory
regulation of financial services in the UK and the Financial Services
Authority (the FSA) as the statutory regulator.
The Government
wishes to consult on the key pieces of secondary legislation to be made
under the Act, where appropriate.The Government invites comments on
the draft Financial Services and Markets Act 2000 (Rights of Action)
Regulations 2001 (the Proposed Regulations), which prescribe
the cases in which persons (private as well as non private) may bring
an action for loss suffered as a result of a breach of FSA requirements,
rules and certain provisions under FSMA. ContentsThis document
is divided into two parts:
- Part
I gives an overview of the proposed regime for rights of action;
and
- Part
II contains the Proposed Regulations
The Annex sets
out the issues referred to in this document on which the Government
particularly invites comments. This document does not include a regulatory
impact assessment for the Proposed Regulations as the costs and benefits
of the changes from the present regime are likely to be negligible.
Responses to
this document
The
Government invites comments on the Proposed Regulations and on any
issue referred to in the Annex or any other part of this document
by 2 February 2001.Comments should be sent to the following address:
Tima Musa
Financial Services Regulation Team
HM
Treasury
Allington Towers
19 Allington Street
London SW1 5EB
E-mail: rights
of action@hm-treasury.gov.uk
Fax: 020 7451 7611
Respondents
should give details of any organisation whose views they represent.
Unless respondents indicate to the contrary, it will be assumed that
they have no objection to their response being made public. This
document can be accessed on the HM Treasury website (http:www.hm-treasury.gov.uk).Hard
copies are available free of charge by telephoning 020 7270 1634.
|
