Treasury makes Targeted Support amendment regulations

HM Treasury has made Regulations amending the RAO to:

• provide that targeted support is a specified activity, but when a person is providing targeted support they are not advising on investments for the purposes of Article 53, and defining what targeted support is;
• giving the FCA power to make appropriate rules; and
• making consequential amendments to other relevant regulation.

The Order takes effect on 23 February for the purpose of allowing the FCA to make rules and accept applications for authorisation and variation of permissions, and otherwise on 6 April.