FINANCIAL SERVICES AND MARKETS ACT 2000: RECENT DEVELOPMENTS
Bulletin number 23 from HM Treasury
This is the twenty third bulletin covering developments on the Financial Services and Markets Act 2000 (FSMA).
Implementation of the Electronic Money Directive
The Treasury consulted in October 2001 on its proposals for implementing the Electronic Money Directive into UK law. These proposals were revised in the light of consultation responses and a statutory instrument – The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2002 - was made and laid before Parliament on 14 March 2002. This SI was accompanied by an Explanatory Memorandum, a Regulatory Impact Assessment and a Transposition Note. At the same time, the Treasury published a response document, explaining the changes to its original proposals and including a summary of representations received. A second statutory instrument – The Electronic Money (Miscellaneous Amendments) Regulations 2002 - will be laid shortly. The new regime for e-money schemes comes into force on 27 April 2002.
Availability
SI 2002 No.682 and the accompanying documents are available in the Implementation of the Electronic Money Directive area of this site.
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Future bulletins
If your details change, or you wish to receive the bulletin in future by e-mail, please let Deirdre Barrie know at the address below:
Financial Services Regulation Team
HM Treasury
2nd Floor, Allington Towers
19 Allington Street
London SW1E 5EB
Telephone: 020 7270 1634
e-mail: deirdre.barrie@hm-treasury.gov.uk
HM Treasury
14 March 2002