Part XVII Collective Investment Schemes

F1CHAPTER 3AAUTHORISED CONTRACTUAL SCHEMES

Annotations:
Amendments (Textual)

Rules

261KDisciplinary measures

1

If it appears to the FCA that an auditor has failed to comply with a duty imposed on the auditor by contractual scheme rules, it may do one or more of the following—

a

disqualify the auditor from being the auditor of any authorised unit trust scheme, authorised contractual scheme or authorised open-ended investment company;

b

publish a statement to the effect that it appears to the FCA that the auditor has failed to comply with the duty;

c

impose on the auditor a penalty, payable to the FCA, of such amount as the FCA considers appropriate.

2

Sections 345B to 345E have effect in relation to the taking of action under subsection (1) as they have effect in relation to the taking of action under section 345(2).