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Small and Medium Sized Business (Credit Information) Regulations 2015 [SI 2015 No. 1945]Introductory TextPart 1 Introductory provisions (regs. 1-2)Regulation 1 Citation and commencementRegulation 2 InterpretationPart 2 Provision of credit information about small and medium sized businesses by banks and credit reference agencies (regs. 3-8)Regulation 3 Designated banks to provide information to designated credit reference agenciesRegulation 4 Requests for information by credit reference agenciesRegulation 5 Agreement by customers of banksRegulation 6 Designated credit reference agencies to provide information to finance providersRegulation 7 Designated credit reference agencies to provide information to the Bank of EnglandRegulation 8 Right of action for failure to provide informationPart 3 Designation of banks and credit reference agencies (regs. 9-14)Regulation 9 Power to designate banks and credit reference agencies and to revoke designationsRegulation 10 Criteria for the designation of a bankRegulation 11 Consultation before designation of a bankRegulation 12 Criteria for the designation of a credit reference agencyRegulation 13 Consultation before designation of a credit reference agencyRegulation 14 Record of designated banks and credit reference agenciesPart 4 Access to and correction of information (regs. 15-16)Regulation 15 Access to and correction of information for individuals and small firmsRegulation 16 Right of action in relation to inaccurate informationPart 5 Complaints about designated credit reference agencies (reg. 17)Regulation 17 Extension of the jurisdiction of the Financial Ombudsman Scheme to designated credit reference agenciesPart 6 Monitoring of compliance and enforcement (regs. 18-46)Chapter 1 The FCA (regs. 18-22)Regulation 18 Functions of the FCARegulation 19 Monitoring and enforcementRegulation 20 Guidance and consultationRegulation 21 Fees and penaltiesRegulation 22 Exemption from liability in damagesChapter 2 Reporting and information (regs. 23-25)Regulation 23 Reporting requirementsRegulation 24 Record keepingRegulation 25 Restrictions on disclosure of informationChapter 3 Investigatory powers (regs. 26-27)Regulation 26 Information gathering and investigations under Part 11 of the 2000 ActRegulation 27 Protected informationChapter 4 Disciplinary measures (regs. 28-30)Regulation 28 Public censureRegulation 29 Financial penaltiesRegulation 30 Limitations on permission to carry on regulated activitiesChapter 5 Injunctions and restitution (regs. 31-33)Regulation 31 InjunctionsRegulation 32 Power of FCA to require restitutionRegulation 33 Restitution ordersChapter 6 Misleading the FCA (regs. 34-38)Regulation 34 Offence of misleading the FCARegulation 35 Restriction on penaltiesRegulation 36 Liability of officers of bodies corporate etcRegulation 37 Proceedings for offenceRegulation 38 Further provisions relating to proceedings for offenceChapter 7 Procedure (regs. 39-44)Regulation 39 Requirement to issue warning noticeRegulation 40 Requirement to issue decision noticeRegulation 41 Third party rightsRegulation 42 Service of noticesRegulation 43 Statements of policyRegulation 44 Application of Part 26 of the 2000 ActChapter 8 Referral to the Tribunal (regs. 45-46)Regulation 45 Referral to TribunalRegulation 46 The TribunalPart 7 Review (reg. 47)Regulation 47 ReviewSchedule - Credit informationSignatureExplanatory NoteExplanatory MemorandumImpact Assessments
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Version status: In force | Document consolidation status: Updated to reflect all known changes
Published date: 26 November 2015

Small and Medium Sized Business (Credit Information) Regulations 2015 [SI 2015 No. 1945]

Introductory Text
Part 1 Introductory provisions (regs. 1-2)
Regulation 1 Citation and commencement
Regulation 2 Interpretation
Part 2 Provision of credit information about small and medium sized businesses by banks and credit reference agencies (regs. 3-8)
Regulation 3 Designated banks to provide information to designated credit reference agencies
Regulation 4 Requests for information by credit reference agencies
Regulation 5 Agreement by customers of banks
Regulation 6 Designated credit reference agencies to provide information to finance providers
Regulation 7 Designated credit reference agencies to provide information to the Bank of England
Regulation 8 Right of action for failure to provide information
Part 3 Designation of banks and credit reference agencies (regs. 9-14)
Regulation 9 Power to designate banks and credit reference agencies and to revoke designations
Regulation 10 Criteria for the designation of a bank
Regulation 11 Consultation before designation of a bank
Regulation 12 Criteria for the designation of a credit reference agency
Regulation 13 Consultation before designation of a credit reference agency
Regulation 14 Record of designated banks and credit reference agencies
Part 4 Access to and correction of information (regs. 15-16)
Regulation 15 Access to and correction of information for individuals and small firms
Regulation 16 Right of action in relation to inaccurate information
Part 5 Complaints about designated credit reference agencies (reg. 17)
Regulation 17 Extension of the jurisdiction of the Financial Ombudsman Scheme to designated credit reference agencies
Part 6 Monitoring of compliance and enforcement (regs. 18-46)
Chapter 1 The FCA (regs. 18-22)
Regulation 18 Functions of the FCA
Regulation 19 Monitoring and enforcement
Regulation 20 Guidance and consultation
Regulation 21 Fees and penalties
Regulation 22 Exemption from liability in damages
Chapter 2 Reporting and information (regs. 23-25)
Regulation 23 Reporting requirements
Regulation 24 Record keeping
Regulation 25 Restrictions on disclosure of information
Chapter 3 Investigatory powers (regs. 26-27)
Regulation 26 Information gathering and investigations under Part 11 of the 2000 Act
Regulation 27 Protected information
Chapter 4 Disciplinary measures (regs. 28-30)
Regulation 28 Public censure
Regulation 29 Financial penalties
Regulation 30 Limitations on permission to carry on regulated activities
Chapter 5 Injunctions and restitution (regs. 31-33)
Regulation 31 Injunctions
Regulation 32 Power of FCA to require restitution
Regulation 33 Restitution orders
Chapter 6 Misleading the FCA (regs. 34-38)
Regulation 34 Offence of misleading the FCA
Regulation 35 Restriction on penalties
Regulation 36 Liability of officers of bodies corporate etc
Regulation 37 Proceedings for offence
Regulation 38 Further provisions relating to proceedings for offence
Chapter 7 Procedure (regs. 39-44)
Regulation 39 Requirement to issue warning notice
Regulation 40 Requirement to issue decision notice
Regulation 41 Third party rights
Regulation 42 Service of notices
Regulation 43 Statements of policy
Regulation 44 Application of Part 26 of the 2000 Act
Chapter 8 Referral to the Tribunal (regs. 45-46)
Regulation 45 Referral to Tribunal
Regulation 46 The Tribunal
Part 7 Review (reg. 47)
Regulation 47 Review
Schedule - Credit information
Signature
Explanatory Note
Explanatory Memorandum
Impact Assessments
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