PART 1A

The Regulators
CHAPTER 1

The Financial Conduct Authority

Arrangements for consulting practitioners and consumers

The Smaller Business Practitioner Panel
1O
1
Arrangements under section 1M must include the establishment and maintenance of a panel of persons (to be known as “
the Smaller Business Practitioner Panel
”) to represent the interests of eligible practitioners.
2
“
Eligible practitioners
” means authorised persons of a description specified in a statement maintained by the FCA.
3
The FCA must appoint one of the members of the Smaller Business Practitioner Panel to be its chair.
4
The Treasury's approval is required for the appointment or dismissal of the chair.
5
The FCA must appoint to the Smaller Business Practitioner Panel such—
a
individuals who are eligible practitioners, and
b
persons representing eligible practitioners,
as it considers appropriate.
6
The FCA may appoint to the Smaller Business Practitioner Panel such other persons as it considers appropriate.
6A
Subsections (5) and (6) are subject to section 1MA.
7
In making the appointments, the FCA must have regard to the desirability of ensuring the representation of eligible practitioners carrying on a range of regulated activities.
8
The FCA may revise the statement maintained under subsection (2).
9
The FCA must—
a
give the Treasury a copy of the statement or revised statement without delay, and
b
publish the statement as for the time being in force in such manner as it thinks fit.
Pt. 1A substituted for Pt. 1 (24.1.2013 for specified purposes, 19.2.2013 for specified purposes, 1.4.2013 in so far as not already in force) by Financial Services Act 2012 (c. 21), ss. 6(1), 122(3) (with Sch. 20); S.I. 2013/113, art. 2(1)(b)(c)(2), Sch. Pts. 2, 3, 4; S.I. 2013/423, art. 3, Sch.
S. 1O(6A) inserted (26.12.2023) by Financial Services and Markets Act 2023 (c. 29), ss. 46(4), 86(3); S.I. 2023/1382, reg. 7(c) (with reg. 17)