(1) In section 61(1)(b) of the Criminal Justice Act 1993 (penalty for conviction on indictment for insider dealing), for "seven years" substitute "ten years".

(2) In section 92(1)(b) of the Financial Services Act 2012 (penalty for conviction on indictment for financial services offences), for "7 years" substitute "10 years".

(3) The amendment made by subsection (1) or (2) does not apply in relation to offences committed before the subsection comes into force.

(4) Where an offence is found to have been committed over a period of 2 or more days, or at some time during a period of 2 or more days, it must be taken for the purposes of subsection (3) to have been committed on the first of those days.