F1PART 1AThe Regulators
CHAPTER 1The Financial Conduct Authority
Arrangements for consulting practitioners and consumers
1OThe Smaller Business Practitioner Panel
1
Arrangements under section 1M must include the establishment and maintenance of a panel of persons (to be known as “the Smaller Business Practitioner Panel”) to represent the interests of eligible practitioners.
2
“Eligible practitioners” means authorised persons of a description specified in a statement maintained by the FCA.
3
The FCA must appoint one of the members of the Smaller Business Practitioner Panel to be its chair.
4
The Treasury's approval is required for the appointment or dismissal of the chair.
5
The FCA must appoint to the Smaller Business Practitioner Panel such—
a
individuals who are eligible practitioners, and
b
persons representing eligible practitioners,
as it considers appropriate.
6
The FCA may appoint to the Smaller Business Practitioner Panel such other persons as it considers appropriate.
7
In making the appointments, the FCA must have regard to the desirability of ensuring the representation of eligible practitioners carrying on a range of regulated activities.
8
The FCA may revise the statement maintained under subsection (2).
9
The FCA must—
a
give the Treasury a copy of the statement or revised statement without delay, and
b
publish the statement as for the time being in force in such manner as it thinks fit.
Pt. 1A substituted for Pt. 1 (24.1.2013 for specified purposes, 19.2.2013 for specified purposes, 1.4.2013 in so far as not already in force) by Financial Services Act 2012 (c. 21), ss. 6(1), 122(3) (with Sch. 20); S.I. 2013/113, art. 2(1)(b)(c)(2), Sch. Pts. 2, 3, 4; S.I. 2013/423, art. 3, Sch.