PART 1

Regulatory framework
CHAPTER 3

Accountability of regulators

Panels and policy statements

Insurance Practitioner Panel
42
In FSMA 2000, after section 2M insert—

The Insurance Practitioner Panel
2MA
1
Arrangements under section 2L must include the establishment and maintenance of a panel of persons (to be known as “the Insurance Practitioner Panel”) to represent the interests of practitioners involved in the carrying on of the activity of effecting or carrying out of contracts of insurance.
2
The PRA must appoint one of the members of the Insurance Practitioner Panel to be the chair of the Panel.
3
The Treasury’s approval is required for the appointment or dismissal of the chair.
4
The PRA must appoint to the Insurance Practitioner Panel at least one person representing PRA-authorised persons engaged in the activity of effecting or carrying out of contracts of insurance.
5
The PRA may appoint to the Insurance Practitioner Panel such other persons as it considers appropriate.
6
Subsections (4) and (5) are subject to section 2LA.
S. 42 not in force at Royal Assent, see s. 86(3)
S. 42 in force at 29.8.2023 for specified purposes by S.I. 2023/779, reg. 4(ff)
S. 42 in force at 26.12.2023 in so far as not already in force by S.I. 2023/1382, reg. 7(b) (with reg. 17)