35 Responses to recommendations of the Treasury
Financial Services and Markets Act 2023 (2023 c 29) | Legislation

FCA and PRA engagement

35  Responses to recommendations of the Treasury

(1)     Section 1JA of FSMA 2000 (recommendations by Treasury in connection with general duties) is amended in accordance with subsections (2) and (3).

(2)     After subsection (2) insert—

“(2A)     The FCA must respond to each recommendation made to it under subsection (1) by notifying the Treasury in writing of—

(a)     action that the FCA has taken or intends to take in accordance with the recommendation, or

(b)     the reasons why the FCA has not acted or does not intend to act in accordance with the recommendation.

(2B)     The notice under subsection (2A) must be given before

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