Financial Guidance and Claims Act 2018 (Version in vigour from 2022-06-01 to )

Consolidated Text

As Enacted

Cited authorities 110

Cited in

Currency	No known outstanding effects
Coming into Force	01 June 2022

(1) A body corporate with functions relating to

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Contenidos

Financial Guidance and Claims Act 2018
PART 1: Financial Guidance etc

Establishment of the single financial guidance body

1: The single financial guidance body

Objectives and functions of the single financial guidance body

2: Objectives
3: Functions
4: Specific requirements as to the pensions guidance function
4A: Specific functions included in the pensions guidance function
5: Delegation of functions to delivery partner organisations
6: Debt respite scheme: advice to the Secretary of State
7: Debt respite scheme: regulations
8: Guidance and directions from the Secretary of State

Standards set by the single financial guidance body

9: Setting standards
10: Monitoring and enforcement of standards

Funding of the single financial guidance body

11: Financial assistance from the Secretary of State
12: Levies under Pension Schemes Act 1993 and Pension Schemes (NI) Act 1993
13: Levy under FSMA 2000 for expenses of single financial guidance body

Funding of debt advice in Scotland, Wales and Northern Ireland

14: Levy under FSMA 2000 for debt advice expenses of devolved authorities

Offence of impersonating the single financial guidance body

15: False claims about provision of information etc
16: Offences under section 15 committed by bodies corporate etc

Information exchange

17: Disclosure of information

Rules etc about financial guidance

18: Personal pension schemes: requirements to refer members to guidance etc
19: Occupational pension schemes: requirements to refer members to guidance etc
20: FCA general rules: information about the availability of guidance

Unsolicited direct marketing approaches

21: Unsolicited direct marketing: pensions
22: Unsolicited direct marketing: other consumer financial products etc

Miscellaneous

23: Power to dissolve the single financial guidance body
24: Regulations dissolving the new single financial guidance body: procedure
25: Minor and consequential amendments
26: Interpretation of Part 1

PART 2: Claims Management Services

Transfer of regulation of claims management services to FCA

27: Transfer to FCA of regulation of claims management services

Charges for claims management services

28: Power of FCA to make rules restricting charges for claims management services
29: PPI claims and charges for claims management services: general
30: PPI claims: interim restriction on charges before transfer of regulation to FCA
31: PPI claims: interim restriction on charges imposed by authorised persons after transfer of regulation to FCA
32: PPI claims: interim restriction on charges imposed by legal practitioners after transfer of regulation to FCA
33: Legal services regulators' rules: charges for claims management services
34: Extension of power of the Law Society of Scotland to make rules

Cold calling about claims management services

35: Cold calling about claims management services

PART 3: General

36: Extent

37: Commencement

38: Short title

SCHEDULES

SCHEDULE 1 Section 1
THE SINGLE FINANCIAL GUIDANCE BODY

Status
Members: general
Non-executive members: tenure
Non-executive members: conflicts of interest
Non-executive members: remuneration etc
Executive members: appointment
Executive members: terms and conditions
Other staff: appointment, terms and conditions
Committees
Delegation
Procedure etc
Validity of acts
Authentication of seal
Reports and accounts

SCHEDULE 2 Section 1
TRANSFER SCHEMES UNDER SECTION 1

Power to make transfer schemes
Contents of a scheme
Modifications to a scheme
Supplementary

SCHEDULE 3 Section 25
MINOR AND CONSEQUENTIAL AMENDMENTS RELATING TO PART 1

Public Records Act 1958 (c. 51)
Parliamentary Commissioner Act 1967 (c. 13)
House of Commons Disqualification Act 1975 (c. 24)
Northern Ireland Assembly Disqualification Act 1975 (c. 25)
Financial Services and Markets Act 2000 (c. 8)
Freedom of Information Act 2000 (c. 36)
Equality Act 2010 (c. 15)
Financial Services Act 2010 (c. 28)
Financial Services Act 2012 (c. 21)
Pension Schemes Act 2015 (c. 8)
Bank of England and Financial Services Act 2016 (c. 14)

SCHEDULE 4 Section 27
REGULATION OF CLAIMS MANAGEMENT SERVICES: TRANSFER SCHEMES

PART 1: APPLICATION AND INTERPRETATION
PART 2: TRANSFER OF PROPERTY AND STAFF FROM THE REGULATOR TO THE FCA
PART 3: TRANSFER OF PROPERTY AND STAFF FROM THE OLC TO THE FOS

SCHEDULE 5 Section 27
REGULATION OF CLAIMS MANAGEMENT SERVICES: TRANSITIONAL PROVISION

FCA information gathering powers
FCA preparatory steps
Consultation requirements
Designation of Regulator's rules
Provision of information by Regulator and OLC
Complaints handling
Interpretation

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Financial Guidance and Claims Act 2018 (Version in vigour from 2022-06-01 to )

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