Financial Services and Markets Act 2000 (Exemption) (Amendment No.2) Order 2011 comes into force
Implementation date: 31 March 2012
The Order revokes the exemption for credit unions registered in Northern Ireland from the regulatory requirements of the Financial Services and Markets Act 2000. This means that credit unions in Northern Ireland are required to comply with the Act and the Financial Services Authority's rules when they accept deposits and conduct other financial services that are regulated activities. The Order can be viewed on the UK legislation website.