After section 22 of FSMA 2000 insert  -

"22A Designation of activities requiring prudential regulation by PRA

(1) The Treasury may by order specify the regulated activities that are "PRA-regulated activities" for the purposes of this Act.

(2) An order under subsection (1) may  -

(a) provide for exceptions;

(b) confer powers on the Treasury or either regulator;

(c) authorise the making of rules or other instruments by either regulator for purposes of, or connected with, any relevant provision;

(d) make provision in respect of any information or document which in the opinion of the Treasury or either regulator is relevant for purposes of, or connected with, any relevant provision;

(e) make such consequential, transitional, or supplemental provision as the Treasury consider appropriate for purposes of, or connected with, any relevant provision.

(3) Provision made as a result of subsection (2)(e) may amend any primary or subordinate legislation, including any provision of, or made under, this Act.

(4) "Relevant provision" means this section or any provision made under this section.

22B Parliamentary control in relation to certain orders under section 22A