Creating a secondary market for annuities: secondary legislation

This document sets out and seeks views on draft secondary legislation to create three new specified activities in the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001 that will apply to any person wishing to operate in the new secondary market for annuities.

The government’s proposals will require anyone wanting to operate in this market to be authorised and supervised by the Financial Conduct Authority (FCA) and will make it easier for the FCA to apply specific, tailored rules to participating UK firms.