Miscellaneous

Appointment of chief executive of FCA
42
1
Schedule 1ZA to the Financial Services and Markets Act 2000 (Financial Conduct Authority) is amended as follows.
2
In paragraph 2A—
a
after sub-paragraph (1) insert—
1A
Appointment as chief executive under paragraph 2(2)(b) is to be for a period of 5 years.
, and
b
in sub-paragraph (2), for “Sub-paragraph (1) does” substitute “Sub-paragraphs (1) and (1A) do”.
3
After paragraph 2A insert—
2B
1
A person may not be appointed as chief executive under paragraph 2(2)(b) more than twice.
2
For this purpose an appointment as chief executive on an acting basis, pending a further appointment being made, is to be ignored.