PART 4Conduct of persons working in financial services sector

Amendments of FSMA 2000

I134Recording information about senior managers

1

Section 347 of FSMA 2000 (the record of authorised persons etc.) is amended as follows.

2

In subsection (2)—

a

in paragraph (g), after sub-paragraph (iii) insert—

iv

in a case where the authorised person concerned is a relevant authorised person, whether or not the person is a senior manager;

b

after that paragraph insert—

h

in the case of an approved person who is a senior manager in relation to a relevant authorised person—

i

whether a final notice has been given to the person under section 390; and

ii

if so, any information about the matter to which the notice relates which has been published under section 391(4).

3

After subsection (8) insert—

8A

In this section—

  • “relevant authorised person” has the same meaning as in Part 5 (see section 71A),

  • “senior manager”, in relation to a relevant authorised person, means a person who has approval under section 59 to perform a designated senior management function in relation to the carrying on by the authorised person of a regulated activity, and

  • “designated senior management function” means a function designated as a senior management function under section 59(6A) or (6B).

4

For subsection (9) substitute—

9

The authorised person concerned”, in relation to an approved person, means the person on whose application approval was given.