motion_title: New Clause 29: Data Protection and Digital  Information Bill
motion_text: New Clause 29 - The FCA and financial services interfaces: supplementary
  “(1) This section is about provision that regulations under section (The FCA and financial services interfaces) may or must (among other things) contain.
  (2) The regulations—
  (a) may enable or require the FCA to impose interface-related requirements that could be imposed by regulations made in reliance on section (Interface bodies)(4) or (5), but
  (b) may not enable or require the FCA to require a person to set up an interface body.
  (3) The regulations must—
  (a) require the FCA, so far as is reasonably possible, to exercise functions conferred by the regulations in a manner which is compatible with, or which advances, one or more specified purposes;
  (b) specify one or more matters to which the FCA must have regard when exercising functions conferred by the regulations;
  (c) if they enable or require the FCA to make rules, make provision about the procedure for making rules, including provision requiring such consultation with persons likely to be affected by the rules or representatives of such persons as the FCA considers appropriate.
  (4) The regulations may—
  (a) require the FCA to carry out an analysis of the costs and benefits that will arise if proposed rules are made or proposed changes are made to rules and make provision about what the analysis must include;
  (b) require the FCA to publish rules or changes to rules and to provide copies to specified persons;
  (c) make provision about the effect of rules, including provision about circumstances in which rules are void and circumstances in which a person is not to be taken to have contravened a rule;
  (d) make provision enabling or requiring the FCA to modify or waive rules as they apply to a particular case;
  (e) make provision about the procedure for imposing FCA additional requirements;
  (f) make provision enabling or requiring the FCA to produce guidance about how it proposes to exercise its functions under the regulations, to publish the guidance and to provide copies to specified persons.
  (5) The regulations may enable or require the FCA to impose the following types of requirement on a person as FCA additional requirements—
  (a) a requirement to review the person’s conduct;
  (b) a requirement to take remedial action;
  (c) a requirement to make redress for loss or damage suffered by others as a result of the person’s conduct.
  (6) The regulations may enable or require the FCA to make rules requiring a person falling within section (The FCA and financial services interfaces)(2)(b) or (c) to pay fees to an interface body for the purpose of meeting expenses incurred, or to be incurred, by such a body in performing duties, or exercising powers, imposed or conferred by regulations under this Part or by rules made by virtue of regulations under section (The FCA and financial services interfaces).
  (7) Regulations made in reliance on subsection (6)—
  (a) may enable rules to provide for the amount of a fee to be an amount which is intended to exceed the cost of the things in respect of which the fee is charged;
  (b) must require rules to provide for the amount of a fee to be—
  (i) a prescribed amount or an amount determined in accordance with the rules, or
  (ii) an amount not exceeding such an amount;
  (c) may enable or require rules to provide for the amount, or maximum amount, of a fee to increase at specified times and by—
  (i) a prescribed amount or an amount determined in accordance with the rules, or
  (ii) an amount not exceeding such an amount;
  (d) if they enable rules to enable a person to determine an amount, must require rules to require the person to publish information about the amount and how it is determined;
  (e) may enable or require rules to make provision about—
  (i) interest on any unpaid amounts;
  (ii) the recovery of unpaid amounts.
  (8) In this section—
  “interface-related” has the meaning given in section (The FCA and financial services interfaces);
  “prescribed” means prescribed in FCA interface rules.
  (9) The reference in subsection (5)(c) to making redress includes—
  (a) paying interest, and
  (b) providing redress in the form of a remedy or relief which could not be awarded in legal proceedings.”—(Sir John Whittingdale.)