The Financial Services Act 2012 (Relevant Functions in relation to Complaints Scheme) (Amendment) Order 2024

Section 84 of the Financial Services Act 2012 (c. 21), required the Financial Conduct Authority (“FCA”) and other financial services regulators to establish a complaints scheme, for the investigation of complaints made in connection with their exercise of, or failure to exercise, some of their functions. Article 2(h) (relevant functions of the FCA) of the Financial Services Act 2012 (Relevant Functions in relation to Complaints Scheme) Order 2014 (S.I. 2014/1195), will be amended by the Securitisation (Amendment) Regulations 2024 (S.I. 2024/705) on 1st November 2024. After this amendment made by the Securitisation (Amendment) Regulations 2024 comes into force, the amendment made by article 2 of this Order will immediately further amend article 2(h) of the Financial Services Act 2012 (Relevant Functions in relation to Complaints Scheme) Order 2014, to exclude the rule making powers that the FCA has under regulations 22 and 34 of the Securitisation Regulations 2024 (S.I. 2024/102) from the complaints scheme.