Financial Services Authority

HL Deb 09 May 2001 vol 625 c204WA

Lord Tomlinson

asked Her Majesty's Government:

When they intend to commence powers making the Financial Services Authority the single financial services regulator under the Financial Services and Markets Act 2000. [HL2136]

Lord McIntosh of Haringey

The Government will be commencing, with effect from 18 June 2001, provisions of the Act which make the Financial Services Authority the single financial services regulator, and give it rule-making powers. These provisions will enable the FSA to make the key provisions of its rule-book no later than the end of July 2001 so that the financial services industry can train and prepare for the commencement of the main provisions of the Act no later than the end of November 2001.