The Immigration Act 2014 (Bank Accounts) Regulations 2014
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Change 1
3 Functions of the FCA
In discharging its functions under these Regulations (including its functions under any provision of the 2000 Act as applied by these Regulations), the FCA must have regard to— (a) the need to use its resources in the most efficient and economic way; (b) the principle that a burden or restriction which is imposed on the carrying on of an activity, or on a person other than a disqualified person, should be proportionate to the benefits, considered in general terms, which are expected to result from the imposition of that burden or restriction; (c) the responsibilities, including those affecting consumers, of the senior management of current account authorised persons in relation to compliance with relevant requirements; (d) the desirability where appropriate of the FCA exercising its functions in a way that recognises differences in the nature of, and objectives of, businesses carried on by different current account authorised persons; (e) the desirability in appropriate cases of the FCA publishing information relating to persons on whom relevant requirements are imposed, or requiring such persons to publish information; (f) the principle that the FCA should exercise its functions as transparently as possible.
3 Functions of the FCA
In discharging its functions under these Regulations (including its functions under any provision of the 2000 Act as applied by these Regulations), the FCA must have regard to— (a) the need to use its resources in the most efficient and economic way; (b) the principle that a burden or restriction which is imposed on the carrying on of an activity, or on a person other than a disqualified person, should be proportionate to the benefits, considered in general terms, which are expected to result from the imposition of that burden or restriction; (c) the responsibilities, including those affecting consumers, of the senior management of current account authorised persons in relation to compliance with relevant requirements; (d) the desirability where appropriate of the FCA exercising its functions in a way that recognises differences in the nature of, and objectives of, businesses carried on by different current account authorised persons; (e) the desirability in appropriate cases of the FCA publishing information relating to persons on whom relevant requirements are imposed, or requiring such persons to publish information; (f) the principle that the FCA should exercise its functions as transparently as possible.
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