Legislation – Financial Services and Markets Act 2023
Changes to legislation:
There are currently no known outstanding effects for the Financial Services and Markets Act 2023, Section 63.
Changes to Legislation
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PART 6Miscellaneous
Amendments to FSMA 2000
63The Ombudsman scheme
(1)
FSMA 2000 is amended as follows.
(2)
“(d)
provision made under paragraph 15(3) of Schedule 17.”
(3)
Paragraph 15 of Schedule 17 (the Ombudsman scheme: power of scheme operator to charge fees) is amended as set out in subsections (4) and (5).
(4)
In sub-paragraph (1) after “respondent” insert “or other persons of a specified description”
.
(5)
“(3)
The reference in sub-paragraph (1) to persons of a specified description is a reference to such descriptions of persons as may be specified in regulations made by the Treasury.
(4)
The power conferred by sub-paragraph (3) to specify descriptions of persons may not be exercised so as to provide for eligible complainants to fall within a specified description of persons.
(5)
The reference in sub-paragraph (4) to “eligible complainants” is a reference to complainants who are eligible in relation to the compulsory or voluntary jurisdiction of the ombudsman scheme (see section 226(6) and 227(7)).
(6)
Before making regulations under sub-paragraph (3) the Treasury must consult the scheme operator.”