House of Commons · Written Ministerial Statement
The Financial Services and Markets Act 2000 (Exemption) (Amendment) Order 2022
07 February 2022 · Treasury
Proposed by John Glen Con Salisbury
Summarised by AI from the official record, so it can contain mistakes.
At a glance
Key points
- The Financial Services and Markets Act 2000 (Exemption) (Amendment) Order 2022 allows Norges Bank to continue its regulated activities in the UK without needing authorization
- The Treasury has deemed Norges Bank suitable for listing as an exempt person
- This exemption permits Norges Bank to maintain its current position in the UK market until March 31, 2022
Issue summary
This statement concerns an amendment order allowing Norges Bank to continue its regulated activities in the UK without requiring authorization under the Financial Services and Markets Act 2000.
Action requested
The Treasury has determined that Norges Bank is suitable for listing as an exempt person, permitting it to maintain its current position in the UK market until March 31, 2022, when the legislation will come into force.
Key facts
- The Financial Services and Markets Act 2000 (Exemption) (Amendment) Order 2022 has been laid before Parliament.
- Norges Bank is permitted to continue its regulated activities without authorisation under FSMA.
- Activities include dealing in investments, managing investments, arranging, safeguarding, administering, and advising on investments.
- The exemption will take effect on 31 March 2022.
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Assessment & feedback
Summary accuracy