13 Prohibition orders
Financial Services Act 2012 (2012 c 21) | Legislation

Performance of regulated activities

13  Prohibition orders

(1)     Section 56 of FSMA 2000 (performance of regulated activities: prohibition orders) is amended as follows.

(2)     For subsection (1) substitute—

“(1)     The FCA may make a prohibition order if it appears to it that an individual is not a fit and proper person to perform functions in relation to a regulated activity carried on by—

(a)     an authorised person,

(b)     a person who is an exempt person in relation to that activity, or

(c)     a person to whom, as a result of Part 20, the general prohibition does not apply in relation to that activity.

(1A)     The PRA may make a prohibition order if it appears to it that an individual is not a fit and proper person to perform functions in

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