Point in time view as at 31/12/2024.
There are currently no known outstanding effects for the Financial Services and Markets Act 2023, Paragraph 4.
4(1)Section 57 (prohibition orders: procedure and right to refer to Tribunal) is amended as follows.
(2)After subsection (8) insert—
“(9)If—
(a)the FCA proposes to make a prohibition order which makes provision in relation to a recognised body, and
(b)the FCA is not the appropriate regulator in relation to recognised bodies of that type,
the FCA must consult the appropriate regulator before giving a warning notice under this section.
(10)If the PRA proposes to make a prohibition order which makes provision in relation to a recognised body, the PRA must consult the appropriate regulator in relation to recognised bodies of that type before giving a warning notice under this section.
(11)In this section—
“the appropriate regulator”, in relation to a recognised body, has the meaning given by section 285A;
“recognised body” has the meaning given by section 313;”.
Commencement Information
I1Sch. 10 para. 4 in force at Royal Assent for specified purposes, see s. 86(1)(e)
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