On 24 July 2018, the Financial Services and Markets Act 2000 (Ring-fenced Bodies and Core Activities) (Amendment) Order 2018 (SI 2018/897) (Amendment Order) was published.

The Amendment Order, which comes into force on 31 October 2018, amends the definition of “core deposit” in the Financial Services and Markets Act 2000 (Ring-fenced Bodies and Core Activities) Order 2014 (RBCAO) to exclude any deposit where one or more of the account holders is (or at any point within the previous six months has been) subject to financial sanctions.