PART 2Financial services
Conduct of persons working in financial services sector
I124Rules of conduct
1
The Financial Services and Markets Act 2000 is amended as follows.
2
In section 64A (power of FCA and PRA to make rules of conduct)—
a
in subsection (1) after paragraph (b) insert—
c
persons who are directors of authorised persons.
b
in subsection (2) after paragraph (c) insert—
d
persons who are directors of PRA-authorised persons.
c
omit the “and” at the end of subsection (5)(a);
d
after subsection (5)(a) insert—
ab
in the case of a person who is a director of an authorised person but is not an approved person, that authorised person, and
e
after subsection (6) insert—
7
In this section “director”, in relation to an authorised person, means a member of the board of directors, or if there is no such board, the equivalent body responsible for the management of the authorised person concerned.
3
In section 64B (responsibilities of authorised persons in relation to rules of conduct)—
a
omit the “and” at the end of subsection (4)(a);
b
at the end of subsection (4)(b) insert
, and
c
any person who is a director of the authorised person.
c
omit subsection (5);
d
after subsection (6) insert—
6A
In this section “director”, in relation to an authorised person, has the same meaning as in section 64A.