24.—(1) The FCA must consult the PRA before giving a warning notice under regulation 19(1)(b) to (f) or a decision notice under regulation 20(1)(b) to (f) in relation to a person who—
(a)is a PRA-authorised person; or
(b)has a qualifying relationship with a PRA-authorised person.
(2) The FCA must consult the PRA before giving a warning notice under regulation 19(1)(a) or a decision notice under regulation 20(1)(a) if as a result of the prohibition in question an individual would be prohibited from performing a management function in relation to a PRA-authorised person.
(3) The PRA must consult the FCA before giving a warning notice under regulation 19(1) or a decision notice under regulation 20(1).
(4) A person has a qualifying relationship with a PRA-authorised person for the purposes of this regulation if the person is a member of the PRA-authorised person's immediate group.
(5) In this regulation, “immediate group” has the meaning given in section 421ZA M1 of the Act.
Marginal Citations
M1Section 421ZA was inserted by section 48(2) of the Financial Services Act 2012 (c.21).