Financial Services Act 2010 comes into force
Implementation date: 8 April 2010
The Act gives the Treasury the power to make Regulations in relation to executive remuneration reports. It imposes a duty on the Financial Services Authority (FSA) to make rules requiring authorised persons to have and implement a remuneration policy that satisfies the requirements of the Act. It provides the FSA with greater enforcement powers, including suspending or limiting an authorised person's permission or an approved person's approval, imposing a fine on an individual performing a controlled function without approval and prohibiting the individual from working in the industry. The Act can be viewed on the OPSI website.