UK

N2– A Regulatory Signpost to the Future

Joanna Gray, School of Law, University of Northumbria, Newcastle upon Tyne. Joanna@alwinton.fsnet.co.uk

Now that midnight 30 November has passed regulated firms are now subject to regulation by the “real” Financial Services Authority in the sense that it is now formally constituted as the sole UK financial regulator under the Financial Services and Markets Act 2000 with its full range of powers under that Act. The process of grandfathering of individuals into the approved persons regime, along with dealing with necessary action to be taken at the end of the transitional time periods allowed by various transitional Handbook rules will still seem the more urgent priorities.