Contravention of any provision of these Regulations
This section has no associated Explanatory Memorandum
6.—(1) A ring-fenced body which contravenes any provision of these Regulations is to be taken to have contravened a requirement imposed on the body by the appropriate regulator under FSMA.
(2) The contravention does not—
(a)make a person guilty of an offence;
(b)make a transaction void or unenforceable; or
(c)give rise to any right of action for breach of statutory duty.
(3) For the purpose of this regulation “the appropriate regulator” means—
(a)in relation to a ring-fenced body which is a PRA-authorised person, the PRA;
(b)in relation to any other ring-fenced body, the FCA.