UK: The Financial Services and Markets Act 2000 (Ring-fenced Bodies, Core Activities, Excluded Activities and Prohibitions) (Amendment) Order 2016

The Financial Services and Markets Act 2000 (Ring-fenced Bodies, Core Activities, Excluded Activities and Prohibitions) (Amendment) Order 2016 was made last week and comes into force on December 1. The Order makes eighteen amendments to the ring-fencing regime, in order to address various issues that have arisen as banks make the structural changes demanded by the new regime. An overview of each of these amendments is available in the explanatory memorandum accompanying the Order: see here (pdf).