SCHEDULES

SCHEDULE 4Extension of relevant authorised persons regime to all authorised persons

2Amendments of Financial Services and Markets Act 2000

1

Section 59 (approval for particular arrangements) is amended as follows.

2

For subsection (6A) substitute—

6A

If the FCA is satisfied that a function of a description specified in rules made by the FCA under subsection (3)(a) or (b) is a senior management function as defined in section 59ZA, the FCA must designate the function in the rules as a senior management function.

3

Omit subsections (6B) and (6C).