An official committee of the Bank of England, parallel to the existing Monetary Policy Committee, responsible for monitoring the economy of the United Kingdom.

This Practice Note explores the Financial Policy Committee (FPC)’s structure, objectives and powers. It outlines the powers it has to achieve the Bank of England’s financial stability objective and it considers the structure and objectives of the FPC, together with its functions including the giving of directions and recommendations and publishing financial stability reports. Background to the Financial Policy Committee The Financial Policy Committee (FPC) was formally initiated from 1 April 2013, in accordance with provisions in the Financial Services Act 2012 (FSA 2012). FSA 2012 inserted a new section 9B in the Bank of England Act 1998 (BEA 1998) as part of the measures found in BEA 1998, Pt 1A aimed at delivering financial stability. BEA 1998, ss 9A–9ZA, as inserted by FSA 2012, contain the detail of the FPC's powers and influential position in relation to macroprudential issues and financial stability. FSA 2012 predominately amended existing legislation, eg the Financial Services and Markets Act 2000 (FSMA 2000) and the Banking Act 2009 (BA 2009) as well as BEA 1998. BEA 1998, s 9B was subsequently amended

The Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (SI 2005/1529) (as amended) which set out the various exemptions to the financial promotion prohibition under section 21 of FSMA 2000.

Scope of this Practice Note This Practice Note explains the exemptions from the financial promotion restriction which may be most relevant to corporate practice. For more information about the financial promotion restriction, see Practice Note: The financial promotion regime—essentials. The exemptions described in this Practice Note are set out in Parts IV and VI of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, SI 2005/1529 (FPO), as has been amended from time to time (eg by the Financial Services and Markets Act 2000 (Claims Management Activity) Order 2018, SI 2018/1253 and the Financial Services and Markets Act 2000 (Amendment) (EU Exit) Regulations 2019, SI 2019/632). The exemptions relate to: • transaction-based financial promotions • company-based financial promotions, and • recipient-based financial promotions The graphic below sets out the exemptions under each of these three type of financial promotion: Financial Promotion Order: groups of exemption The Financial Services and Markets Act 2000 (Financial Promotions) Order 2005, SI 2005/1529 (FPO) contains a list of over 70 exemptions that may be used by those that are not

Scope of this Practice Note This Practice Note explains the exemptions from the financial promotion restriction which are available for all controlled activities. For more information about the financial promotion restriction, see Practice Note: The financial promotion regime—essentials. The exemptions described in this Practice Note are set out in Part IV of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, SI 2005/1529 (FPO), as has been amended from time to time (eg by the Financial Services and Markets Act 2000 (Claims Management Activity) Order 2018, SI 2018/1253 and the Financial Services and Markets Act 2000 (Amendment) (EU Exit) Regulations 2019, SI 2019/632). The exemptions relate to: • certain types of communication • communications made to certain recipients, and • communications made by certain persons. The FPO contains a list of over 70 exemptions that may be used by those that are not PRA/FCA authorised firms. A number of these are discussed further in Practice Notes: Financial Promotions Order: Exemptions for deposits and insurance, Financial Promotions Order: Exemptions for

Scope of this Practice Note The exemptions to the financial promotion restriction are contained in the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, SI 2005/1529 (FPO), as has been amended from time to time (eg by the Financial Services and Markets Act 2000 (Amendment) (EU Exit) Regulations 2019, SI 2019/632). For more information about the financial promotion restriction, see Practice Note: The financial promotion regime—essentials. The FPO exemptions apply to communications relating to all kinds of controlled activity. The FPO exemptions to the restriction are split into four different categories: • those applying all controlled activities (Pt IV) • those applying to deposits and insurance (Pt V) • those applying to certain controlled activities (Pt VI), and • those applying to controlled claims management activities (Pt VIA) This Practice Note looks at the exemptions that apply to communications relating to deposits and contracts of insurance other than life policies. These exemptions can be combined with the exemptions for all controlled activities (FPO, SI 2005/1529, Pt IV, ss 12–20C). Broadly, the

This Practice Note looks at exemptions from the financial promotion restriction which may be most relevant to financial services practice. For more information about the financial promotion restriction generally, see Practice Note: The financial promotion regime—essentials. There are three groups of exemptions to the financial promotion restriction which are set out in the Financial Services and Markets Act 2000 (Financial Promotions) Order 2005, SI 2005/1529 (FPO). The exemptions are grouped according to activity type: • those applicable to all controlled activities (FPO SI 2005/1529, Pt IV) • those applicable to deposits and insurance (FPO SI 2005/1529, Pt V) and • those applicable to certain controlled activities (these exclude deposit taking) (FPO SI 2005/1529, Pt VI) • those applicable to controlled claims management activities (FPO SI 2005/1529, Pt VIA, arts 73A–73J) For guidance on the exemptions that apply to all controlled activities, see Practice Note: Exemptions for all controlled activities, for guidance on the exemptions for deposits and insurance see Practice Note: Exemptions for deposits and insurance and for

Ireland—Banking and Financial Services analysis: This article, written by A&L Goodbody’s Team, notes that the European Central Bank (ECB) has imposed periodic penalty payments on ABANCA Corporación Bancaria, SA (ABANCA) for its failure to properly identify climate and environmental risks.

Ireland-Banking and Financial Services analysis: This article, written by A&L Goodbody’s Team, notes that at European level, the European Banking Authority (EBA) published report on tackling money laundering and terrorist financing (ML/TF) risks posed by cryptoasset service providers (CASPs) and issuers of asset-referenced tokens (ARTs) and e-money tokens (EMTs), EU General Data Protection Regulation (GDPR) statement regarding Digital Operational Resilience Act (DORA) oversight, European Securities and Markets Authority (ESMA) issues new Q&A on Markets in CryptoAssets Regulation (MiCAR) and revised guidelines on outsourcing to cloud service providers.

Ireland-Banking and Financial Services analysis: This article, written by A&L Goodbody’s Team, notes that domestically the Central Bank of Ireland (CBI) published its report on the European Securities and Markets Authority’s (ESMA) Common Supervisory Action (CSA) on sustainability risks and disclosures in the investment funds sector. It also notes that at European level, ESMA published draft regulatory technical standards (RTS) on open-ended loan-originating alternative investment funds under Alternative Investment Fund Managers Directive (EU) Directive 2024/927 (AIFMD II).

The principal aim and objective of the Financial Remedies Court is to improve the delivery of financial remedies. Initially launched as a pilot scheme, in February 2021 the President of the Family Division confirmed that the Financial Remedies Court should now be regarded as an established and permanent part of the Family Court.

This toolkit brings together various resources and constitutional documents associated with the Financial Remedies Court (FRC), including the Financial remedies guide (March 2026) (the FRG), which supersedes both efficiency statements, template ES1 (composite case summary) and template ES2 (composite schedule of assets and income). It also provides an overview of the Practice Notes available to assist practitioners conducting cases in the FRC. The FRC is a subsidiary structure within the Family Court with the principal aim and objective of improving the delivery of financial remedies. See further Practice Note: The Financial Remedies Court. The FRG (published on 13 March 2026) updated and consolidated both the Statement on the efficient conduct of financial remedy hearings in the Financial Remedies Court below High Court judge level published in January 2022 (the below High Court judge level efficiency statement) and the Statement on the efficient conduct of financial remedy hearings allocated to a High Court judge whether sitting at the Royal Courts of Justice or elsewhere published in February 2016 (the High Court judge level efficiency statement). The