Blackstone's Guide to the Financial Services and Markets Act 2000

The Blackstone's Guide Series delivers concise and accessible books covering the latest legislative changes and amendments. Published soon after enactment, they offer expert commentary by leading names on the extent, scope, and effects of the legislation, plus a full copy of the Act itself. They offer a cost-effective solution to key information needs and are the perfect companion for any practitioner needing to get up to speed with the latest changes.

The Financial Services and Markets Act 2000 was the most important piece of legislation in the financial services area for many years. It made a number of important changes, including overhauling and unifying the arrangement for oversight of banking, insurance and other investment services; introducing new sanctions to restrain abuse of financial markets; establishing the Financial Services Authority as regulator of the UK's financial services industry; creating a statutory Financial Ombudsman Service to enable financial disputes to be resolved quickly and informally; establishing the Financial Services and Markets Tribunal; and creating a Financial Services Compensation Scheme to unify the arrangements for depositor and policyholder protection and investor compensation. Since the publication of the first edition in 2001, statutory amendments have been required to implement a number of important EU directives, such as The Prospectus Directive, the Market Abuse Directive, the Transparency Directive and the Markets in Financial Instruments Directive. There has also been amendment for domestic purposes, e.g. in the field of consumer credit. The new edition will cover these updates and will also give an account of what has been happening in the policy fields beneath the level of the Act itself.

The new edition of this Blackstone's Guide combines the full text of the Act with an expert narrative. It seeks to explain the scope and impact of the Act, and bring practitioners right up-to-date with this complex piece of drafting. Developments in UK financial services regulation are taken into account where relevant in response to the global financial upheaval of 2007-9. Presented in a straightforward layout, the book enables ease of use as a reference source.

Michael Blair QC is a specialist on financial services and financial services regulation. He joined commercial Chambers (3 Verulam Buildings, Gray's Inn) in 2000 after serving as General Counsel to the Board of the Financial Services Authority from 1998-2000, and as head of the legal function in its predecessor body, the Securities and Investments Board from 1987-97. Before that he had served from 1982 to 1987 as an Under Secretary in the home civil service, latterly taking responsibility for the criminal and civil legal aid schemes in England and Wales as well as for the higher courts and matters affecting the legal profession. His practice is largely advisory though he has appeared before the Chancery Division the Financial Services and Markets Tribunal and the Financial Services Authority's Regulatory Decisions Committee.. He sits judicially as a Member of the Competition Appeal Tribunal, and is the Chairman of SWX Europe, the Swiss equities exchange in London. He has been a Board member of the Dubai Financial Services Authority since 2004, and was Master Treasurer of the Middle Temple, his Inn of Court, in 2008.

He is the author or editor of a number of works mainly in the financial services field.