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Financial Services and Markets Act 2000, Section 309Z1 is up to date with all changes known to be in force on or before 09 May 2024. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
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(1)If it appears to the appropriate regulator to be necessary or expedient for the purposes of advancing a relevant objective, the appropriate regulator may make rules about the conduct of the following persons in relation to the performance by them of qualifying functions—
(a)persons in relation to whom the appropriate regulator has given its approval under section 309G (“Part 18 approved persons”);
(b)directors of relevant recognised bodies;
(c)employees of relevant recognised bodies.
(2)Rules under subsection (1) may include provision requiring a relevant recognised body to—
(a)notify persons mentioned in subsection (1) of the rules that apply to them;
(b)take specified steps to secure that such persons understand how those rules apply in relation to them.
(3)Rules under subsection (1) may include provision requiring a relevant recognised body to notify the appropriate regulator if the body takes specified disciplinary action in relation to a person mentioned in subsection (1).
(4)In this section—
“qualifying function” means a function relating to the carrying on of activities by the following—
“relevant objective” means—
if the appropriate regulator is the FCA, any of its operational objectives;
if the appropriate regulator is the Bank of England, the Financial Stability Objective.
“specified” means specified in the rules.]
Textual Amendments
F1Pt. 18 Ch. 2A inserted (29.6.2023 for specified purposes) by Financial Services and Markets Act 2023 (c. 29), s. 86(1)(e), Sch. 10 para. 1
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