1. Financial Crime & AML/CFT
  2. Legislation (UK)
  3. Bills
  4. 2022
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  1. Financial Services and Markets Bill (Royal Assent 29 June 2023)
  2. Part 1 Regulatory framework (ss. 1-50)
  3. Chapter 3 Accountability of regulators (ss. 24-50)
  4. Panels and policy statements (ss. 39-44)
  5. 42 Statement of policy on cost benefit analyses
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Version status: Amended
Version date: 8 December 2022 - onwards
  Version 2 of 2    

42 Statement of policy on cost benefit analyses

This format of the bill is taken from the text of stage Committee stage published on 23 March 2023 by House of Lords

(1) FSMA 2000 is amended as follows.

(2) After section 138IA (inserted by section 41) insert -

"138IB Statement of policy in relation to cost benefit analyses

(1) The FCA must prepare and publish a statement of policy in relation to the preparation of cost benefit analyses for the purposes of section 138I.

(2) The statement must provide information about -

(a) the methodology adopted in preparing cost benefit analyses;

(b) matters to which the FCA has regard in determining whether section 138I(8) applies;

(c) matters to which the FCA has regard in determining whether an exemption under section 138L applies in relation to the preparation of a cost benefit analysis;

(d) arrangements to ensure that representations in connection with a cost benefit analysis that are made in accordance with section 138I(2)(e) are considered;

(e) cases in which the requirement to consult the FCA Cost Benefit Analysis Panel in relation to the preparation of a cost benefit analysis does not apply;

(f) arrange

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