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The Financial Services and Markets Act 2000 (Exemption) (Amendment) Order 2022

07 February 2022

Proposing MP
John Glen Con
Salisbury
Type
Written Ministerial Statement
Department
Treasury
View on Parliament.uk -->

At a Glance

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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