The Treasury has published draft Regulations to give the FCA supervisory and enforcement powers over certain activities which are to become Designated Activities for the purposes of FSMA following the changes introduced by FSMA 2023 which are now in s71O of FSMA. The powers will apply to requirements imposed as a result of the Short Selling Regulations 2024 and the Consumer Composite Investments (Designated Activities) Regulations 2024 and the intention is that they will apply to any activities designated in the future.
Treasury publishes draft Designated Activities supervision regulations
