The Financial Services and Markets Act 2000 (Disapplication or Modification of Financial Regulator Rules in Individual Cases) Regulations 2024
These Regulations provide for section 138BA of the Financial Services and Markets Act 2000 (“FSMA 2000”) (c. 8) to apply to any rules made by the Prudential Regulation Authority under that Act, except for rules excluded by section 138BA(3). Section 138BA of FSMA 2000 enables a regulator to give a firm permission to disapply or apply with modifications that regulator’s rules on the application of the firm or with the firm’s agreement.