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Part XIVU.K. Disciplinary Measures

Modifications etc. (not altering text)

C2Pt. 14 applied (with modifications) (26.7.2013 for specified purposes, 1.4.2014 in so far as not already in force) by The Financial Services Act 2012 (Consumer Credit) Order 2013 (S.I. 2013/1882), arts. 1(1), 3(7)

C3Pt. 14 applied (with modifications) (26.7.2013 for specified purposes, 1.4.2014 in so far as not already in force) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) (No.2) Order 2013 (S.I. 2013/1881), arts. 1(2)(6), 12(10)

[F1204AMeaning of “relevant requirement” and “appropriate regulator”U.K.

(1)The following definitions apply for the purposes of this Part.

(2)“Relevant requirement” means a requirement imposed—

(a)by or under this Act, F2...

(b)by a qualifying EU provision specified, or of a description specified, for the purposes of this subsection by the Treasury by order [F3, or

(c)by the Alternative Investment Fund Managers Regulations 2013].

(3)The PRA is “the appropriate regulator” in the case of a contravention of—

(a)a requirement that is imposed under any provision of this Act by the PRA;

(b)a requirement under section 56(6) where the authorised person concerned is a PRA-authorised person and the prohibition order concerned is made by the PRA;

(c)a requirement under section 59(1) or (2) where the authorised person concerned is a PRA-authorised person and the approval concerned falls to be given by the PRA.

(4)In the case of a contravention of a requirement that is imposed by a qualifying EU provision, “the appropriate regulator” for the purpose of any provision of this Part is whichever of the PRA or the FCA (or both) is specified by the Treasury by order in relation to the qualifying EU provision for the purposes of that provision of this Part.

(5)In the case of a contravention of a requirement where the contravention constitutes an offence, the “appropriate regulator” is whichever of the PRA or the FCA has power to prosecute the offence (see section 401).

(6)The FCA is “the appropriate regulator” in the case of a contravention of any other requirement imposed by or under this Act.

(7)The Treasury may by order amend the provisions defining “the appropriate regulator”.]

Textual Amendments

F1S. 204A inserted (24.1.2013 for specified purposes, 1.4.2013 in so far as not already in force) by Financial Services Act 2012 (c. 21), s. 122(3), Sch. 9 para. 10 (with Sch. 20); S.I. 2013/113, art. 2(1)(b), Sch. Pt. 2; S.I. 2013/423, art. 3, Sch.

Modifications etc. (not altering text)