UK

Story heading: Firm Date for ‘N2’ – Final Stages of Preparation for the Financial Services and Markets Act 2000.

Joanna Gray, Senior Lecturer in Law, University of Northumbria at Newcastle. joanna@alwinton.fsnet.co.uk

On 12 July the Economic Secretary to HM Treasury at long last announced a firm and final date and time for ‘N2’ the date upon which the vast majority of the provisions made in and under the Financial Services and Markets Act 2000 come into force. The Act will come into force at midnight on 30 November 2001 and the Financial Services Authority will acquire its new legal personality, status, powers and duties under the Act.