UK: the Financial Services Act 2010 (Commencement No. 1 and Transitional Provision) Order 2010

The Financial Services Act 2010 (Commencement No. 1 and Transitional Provision) Order 2010 was made on Monday. A copy was published yesterday on the Legislation website: see here (pdf, also including an explanatory note).

The Order brought into force yesterday various provisions of the Financial Services Act (2010), including sections 2(2) to (4), the effect of which is to remove public awareness from the list of statutory objectives given to the Financial Services Authority by section 2 of the Financial Services and Markets Act (2000). The FSA will, however, be required to take into account the desirability of enhancing the understanding and knowledge of members of the public of financial matters (including the UK financial system) in discharging its general functions.