PART 9C

Prudential regulation of FCA investment firms

Control of managers etc of non-authorised parent undertakings

Offence of breaching a Part 9C prohibition order
143V
1
An individual who performs a function, or agrees to perform a function, in breach of a Part 9C prohibition order commits an offence.
2
An individual who commits an offence under this section is liable—
a
on summary conviction in England and Wales, to a fine, and
b
on summary conviction in Scotland or Northern Ireland, to a fine not exceeding level 5 on the standard scale.
3
In proceedings for an offence under this section, it is a defence for the individual to show that they took all reasonable precautions and exercised all due diligence to avoid committing the offence.
Pt. 9C inserted (1.7.2021) by Financial Services Act 2021 (c. 22), s. 49(5), Sch. 2 para. 1; S.I. 2021/671, reg. 4(b)