Designated Activities enforcement Regs take effect

The Regulations amending FSMA to give the FCA necessary supervision and enforcement powers in respect of the new Designated Activities have been made and take effect on 14 January.

The new powers apply in respect of the new regulations on short selling and consumer composite investments, and the relevant powers have been inserted after the equivalent ones within FSMA.

The Short Selling Regulations were also made on 13 January and are fully in effect, replacing the assimilated EU laws.