Amendments to section 204A of the 2000 Act (meaning of “relevant requirement” and “appropriate regulator”)3

1

Section 204A of the 2000 Act is amended as follows.

2

Omit subsection (3)(c).

3

At the end of subsection (3) insert—

d

a requirement under section 62A(2)9 where the authorised person concerned is a PRA-authorised person and the approval concerned was given by the PRA;

e

a requirement under section 64B(2) or (5)10 where the conduct rules11 concerned are made by the PRA12;

f

a requirement under section 64C(1)13 to notify the PRA that disciplinary action14 has been taken.

4

After subsection (3) insert—

3A

Either the PRA or the FCA is “the appropriate regulator” in the case of a contravention of—

a

a requirement under section 59(1) or (2)15 where the authorised person16 concerned is a PRA-authorised person17 and the approval concerned falls to be given by the PRA;

b

a requirement under section 60A(1) or (2)18 where the authorised person concerned is a PRA-authorised person and the approval concerned falls to be given by the PRA;

c

a requirement under section 63(2A)19 where the approval concerned is within section 63(1A)(a)20;

d

a requirement under section 63E(1)21 where the authorised person concerned is a PRA-authorised person and the function concerned is of a description specified in rules made by the PRA;

e

a requirement under section 63F(1), (2), (4), (6) or (7)22 where the authorised person concerned is a PRA-authorised person and the certificate concerned relates to a function of a description specified in rules made by the PRA.