Compliance tools · Corporate governance, employment and financial

FSMA 2023 compliance tool

FSMA 2023 (c. 29) · United Kingdom · Binding instrument

Name anyone on your staff. The system makes them your compliance person.

A member of your own staff, with no compliance background, reads the training module, answers the interview, and finishes with your FSMA 2023 documentation cited article by article. The knowledge stays in the business.

Every account level runs inside a dedicated Claude account. Anyone can try a toolkit in their own Claude account; compliance work runs in a dedicated one. The Claude Max plan is £90 a month, paid to Anthropic, and is not included in any level.

See a finished report before you pay

FSMA 2023 (c. 29) is a binding instrument in the United Kingdom. UK financial services regulatory structure post-Brexit.

The free assessment screens for FSMA 2023 when a business provides financial services or is an obliged financial entity.

Sectors this instrument reaches: financial services; payment systems; digital settlement assets; investment exchanges; central counterparties; central securities depositories; data reporting services; critical third party service providers to financial entities.

Screen your business against all 116 agent toolkits, free →

• Your exact position under FSMA 2023: what is in place, what is missing, and what to do about each gap.
• Documentation with article citations, ready for auditors, insurers, customers and public buyers.
• A trained person inside the business who understands what the regulation requires, and stays.
• A dated record of every section completed, with the reports themselves staying in your own Claude account. The toolkit is carried by an account level, see the plans.
• All of it completed in-house, at your own pace, without booking a single meeting.

Check that FSMA 2023 applies to your business, free →

Does FSMA 2023 apply to my business?

FSMA 2023 applies to you if you carry on a designated activity connected to UK financial markets, or if you are an authorised person, a recognised central counterparty or CSD, a recognised UK investment exchange, a data reporting service provider, or a critical third party serving financial entities. The financial promotion approval permission requirement applies to all authorised persons regardless of size.

Who does FSMA 2023 apply to?

It applies to persons carrying on designated activities specified by Treasury regulations, authorised persons, recognised central counterparties, recognised CSDs, third country CCPs and CSDs, recognised UK investment exchanges, data reporting service providers, and critical third parties providing services to authorised persons, relevant service providers or FMI entities. It also binds the FCA, the PRA, the Bank of England and the Payment Systems Regulator in their institutional capacities.

Does FSMA 2023 apply to a small business?

FSMA 2023 has no size threshold. The financial promotion approval permission requirement applies to all authorised persons regardless of size, and the Act affects any person carrying on a designated activity connected to UK financial markets.

When does FSMA 2023 apply from, and what are the deadlines?

FSMA 2023 received Royal Assent on 29 June 2023, and commencement regulations S.I. 2023/779, S.I. 2023/936, S.I. 2023/1382, S.I. 2024/250 and S.I. 2024/1071 brought different sections and schedules into force in stages between 29 June 2023 and 1 February 2025. Notification duties are framed as as soon as reasonably practicable, such as insurer notification of a write-down order under s.377F(2).

What does FSMA 2023 require me to do?

You must hold FCA permission to approve financial promotions under section 55NA(1), comply with the rules of any designated activity you carry on, and keep individuals subject to a Part 18 prohibition order out of any function in relation to your activities. Recognised bodies must operate a senior manager approval regime and a parallel certification regime under Part 18 Chapter 2A.

What records or documents does FSMA 2023 require me to keep or produce?

Recognised bodies must maintain a statement of responsibilities for each senior manager and operate a certification regime for other specified functions under Part 18 Chapter 2A. A certificate issued under section 309Z to a recognised body employee is valid for 12 months from the day of issue.

What happens if I do not comply with FSMA 2023?

Approving a financial promotion without FCA permission is deemed a contravention of an FCA requirement under s.55NA(2), which routes the breach into the FSMA 2000 enforcement toolkit of public censure, financial penalties, restitution orders and injunctions. Section 23(4) makes enforcement of digital settlement asset obligations a criminal offence carrying up to 3 months imprisonment or a fine, or both.

How do I start complying with FSMA 2023?

The first practical step is to check whether you carry on a designated activity specified by Treasury regulations, because that gateway determines whether the designated activities and financial promotion approval duties apply to you. Authorised persons must then hold FCA permission to approve financial promotions under section 55NA(1).

Which ComplianceSME account includes the FSMA 2023 toolkit?

The FSMA 2023 agent toolkit is included in Compliance Complete.

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