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Version status: In force | Document consolidation status: Updated to reflect all known changes
Version date: 1 July 2011 - onwards
Version 2 of 2

Regulation 2 Amendment of the Financial Services and Markets Act 2000

(1) The Financial Services and Markets Act 2000 is amended as follows.

(2) In section 66(2) [Section 66(2) was amended by S.I. 2007/126.], in paragraph (b) -

(a) after "regulation" insert "or decision", and

(b) after "financial instruments directive" insert "or the UCITS directive".

(3) After section 90 [Section 90 was amended by S.I. 2005/1433.], insert -

"90ZA. Liability for key investor information

(1) A person is not to be subject to civil liability solely on the basis of the key investor information produced in relation to a collective investment scheme or a sub-fund of such a scheme in accordance with rules or other provisions implementing Chapter IX of the UCITS directive, or of any translation of that information, unless the key investor information is misleading, inaccurate or inconsistent with the relevant parts of the prospectus published for that collective investment scheme or sub-fund in accordance with rules made by the Authority under section 248 of this Act.