The Act and the LRP Regulations came into effect on 15 January 2020.
As a reminder, the LRP Regulations do not change the substance of the legislation they derived from and they remain similar. The changes made were necessary to align the content with:
- the terminology of the Act; and
- the new concepts and policy introduced by the Act (which were consulted on and presented to industry in June).
There are numerous sector specific regulations and a few regulations that apply to either all or some sectors (like the GFSC fees regulations). These are all based on the relevant previous legislation.
The sector specific regulations contain all the relevant requirements that previously applied to the sector in question and make the legislation more navigable and accessible. Some of the previous content has been omitted as it is covered by cross-sectoral parts of the Act. We have tried, as far as possible, to consolidate all the requirements applicable to one sector into one set of regulations so that firms do not have to refer to multiple sets of regulations to understand what applies to them.
If you have any questions on anything raised on this page please contact our LRP Team via email on LRP@fsc.gi
Main sector specific regulations
Regulations implementing an EU Regulation