Financial Services (Banking Reform) Act 2013
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Change 1
31 Requirement to notify regulator of disciplinary action
After section 64B of FSMA 2000 (inserted by section 30 above) insert— Requirement for relevant authorised persons to notify regulator of disciplinary action 64C (1) If— (a) a relevant authorised person takes disciplinary action in relation to a relevant person, and (b) the reason, or one of the reasons, for taking that action is a reason specified in rules made by the appropriate regulator for the purposes of this section, the relevant authorised person must notify that regulator of that fact. (2) “Disciplinary action”, in relation to a person, means any of the following— (a) the issuing of a formal written warning; (b) the suspension or dismissal of the person; (c) the reduction or recovery of any of the person's remuneration. (3) “The appropriate regulator” means— (a) in relation to relevant authorised persons that are PRA-authorised persons, the FCA or the PRA; (b) in relation to any other relevant authorised persons, the FCA. (4) “Relevant person” has the same meaning as in section 64B. (5) For the meaning of “relevant authorised person”, see section 71A.
31 Requirement to notify regulator of disciplinary action
After section 64B of FSMA 2000 (inserted by section 30 above) insert— Requirement for relevant authorised persons to notify regulator of disciplinary action 64C (1) If— (a) a relevant authorised person takes disciplinary action in relation to a relevant person, and (b) the reason, or one of the reasons, for taking that action is a reason specified in rules made by the appropriate regulator for the purposes of this section, the relevant authorised person must notify that regulator of that fact. (2) “Disciplinary action”, in relation to a person, means any of the following— (a) the issuing of a formal written warning; (b) the suspension or dismissal of the person; (c) the reduction or recovery of any of the person's remuneration. (3) “The appropriate regulator” means— (a) in relation to relevant authorised persons that are PRA-authorised persons, the FCA or the PRA; (b) in relation to any other relevant authorised persons, the FCA. (4) “Relevant person” has the same meaning as in section 64B. (5) For the meaning of “relevant authorised person”, see section 71A.
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