Search Legislation

Financial Services and Markets Act 2023

 Help about what version

What Version

 Help about advanced features

Advanced Features

 Help about opening options

Opening OptionsExpand opening options

Changes over time for: Paragraph 8

 Help about opening options

Alternative versions:

Status:

Point in time view as at 31/12/2024.

Changes to legislation:

There are currently no known outstanding effects for the Financial Services and Markets Act 2023, Paragraph 8. Help about Changes to Legislation

Amendments to FSMA 2000U.K.

This section has no associated Explanatory Notes

8(1)Section 168 (appointment of persons to carry out investigations in particular cases) is amended as follows.

(2)After subsection (4) insert—

(4A)Subsection (5) applies if it appears to the investigating authority that there are circumstances suggesting that—

(a)an individual may not be a fit and proper person to perform functions in relation to an activity carried on by a relevant recognised body;

(b)an individual may have performed, or agreed to perform, a function in breach of a Part 18 prohibition order;

(c)a person may have failed to comply with section 309F(1);

(d)a relevant recognised body may have failed to comply with section 309G(1);

(e)a person in relation to whom the FCA has given approval under section 309G may not be a fit and proper person to perform the function to which that approval relates;

(f)a person may have performed a designated senior management function without approval under section 309G (see section 309U(3));

(g)a person may be guilty of misconduct for the purposes of section 309Z2.

(3)In subsection (6), after paragraph (b) insert—

(c)in subsection (4A), the FCA.

(4)After subsection (6), insert—

(7)Relevant recognised body” has the same meaning as in Chapter 2A of Part 18 (see section 309A).

Commencement Information

I1Sch. 10 para. 8 in force at Royal Assent for specified purposes, see s. 86(1)(e)

Back to top

Options/Help