SCHEDULES

SCHEDULE 3Consequential amendments relating to Part 4

Financial Services and Markets Act 2000

I115

1

Section 415B of FSMA 2000 (consultation in relation to taking certain enforcement action) is amended as follows.

2

In subsection (4)—

a

in paragraph (b), for “significant-influence” substitute “ relevant senior management ”, and

b

omit the definitions appearing after that paragraph.

3

After subsection (4) insert—

5

In subsection (4)—

  • “arrangement” has the same meaning as in section 59;

  • “relevant senior management function” means a function which the FCA is satisfied is a senior management function as defined in section 59ZA (whether or not it has been designated as such under section 59(6A) or (6B)).