PART 4Conduct of persons working in financial services sector
Amendments of FSMA 2000
I1I218Functions for which approval is required
1
Section 59 of FSMA 2000 (approval for particular arrangements) is amended as follows.
2
Omit subsection (5).
3
For subsection (6) substitute—
6
The PRA may specify a description of function under subsection (3)(a) only if, in relation to the carrying on of a regulated activity by a PRA-authorised person, it is satisfied that the function is a senior management function as defined in section 59ZA.
F14
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5
Omit subsections (7) to (7B) and (11).