The provisions of the U.K. Financial Services Act 1986 were given statutory effect on 29th April 1988.

The Secretary of State, in pursuance of his power to do so under Section 114 of the Financial Services Act 1986, transferred the discharge of the Designated Agency functions, as stated in the Act, to the Securities and Investments Board (SIB).

The SIB  (by order made under Section 48(1) of the Act, as related in Section 2.5.1) duly introduced the Financial Services Conduct of Business Rules, wherein they ratified the various provisions of the Act in accordance with the Principles defined in Schedule 8.