New regulatory powers Designated activities regime The Designated Activities Regime
The Act creates the Designated Activities Regime (DAR) to allow activities related to financial markets to be regulated within a framework which is compatible with a comprehensive FSMA model.
	The Act:
Establishes a framework within FSMA 2000 which sets the overall structure and powers for regulation and applies the relevant regulatory objectives and principles.
Sets a prohibition against carrying out ‘designated’ activities, or stipulates that they must take place in accordance with the relevant rules;
Provides a power for HM Treasury to designate activities relating to financial markets, exchanges, instruments, products, or investments, in secondary legislation, so that relevant activities can be brought inside this framework. This is modelled on the RAO but this power will also enable HM Treasury to set some requirements directly, and to indicate where the activities must be performed in line with rules made by the FCA;
Provides a rule-making power for the FCA, which will enable them to make rules in relation to designated activities within the accountability and objectives framework for financial services regulators set by Parliament.