PART 6Miscellaneous FCA functions in relation to the markets in financial instruments directive and markets in financial instruments regulation

Authorisation of members of management bodies to hold additional non-executive directorship44

1

Where a relevant recognition requirement limits the number of non-executive directorships a member of the management body of an exchange may hold at the same time, the FCA may authorise that member to hold one additional directorship.

2

In paragraph (1)—

  • “management body” has the meaning given by regulation 3 (interpretation) of Financial Services and Markets Act 2000 (Recognition Requirements for Investment Exchanges and Clearing Houses) Regulations 2001 M1; and

  • “relevant recognition requirement” means a requirement set out in paragraph 2B(1)(a)(i) or (ii) of the Schedule to those Regulations.

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