{
  "url": "https://openlegislation.uk/bank-of-england-and-financial-services-act-2016/section-25",
  "json_url": "https://openlegislation.uk/bank-of-england-and-financial-services-act-2016/section-25.json",
  "legislation": "ukpga/2016/14",
  "legislation_title": "Bank of England and Financial Services Act 2016",
  "legislation_url": "https://openlegislation.uk/bank-of-england-and-financial-services-act-2016",
  "path": "section/25",
  "kind": "section",
  "number": "25",
  "heading": "Misconduct",
  "text": "(1) The Financial Services and Markets Act 2000 is amended as follows.\n(2) In section 66A (misconduct: action by FCA)—\n(a) omit the “or” at the end of subsection (2)(b)(i);\n(b) at the end of subsection (2)(b)(ii) insert\n“, or\n(iii) a director of an authorised person.”;\n(c) omit the “or” at the end of subsection (3)(b)(i);\n(d) at the end of subsection (3)(b)(ii) insert\n“, or\n(iii) a director of the authorised person.”;\n(e) omit the “and” at the end of subsection (5)(b);\n(f) at the end of subsection (5)(c) insert\n“, and\n(d) the senior manager did not take such steps as a person in the senior manager's position could reasonably be expected to take to avoid the contravention occurring (or continuing).”;\n(g) omit subsection (6);\n(h) in subsection (8) after the definition of “approved person” insert—\n““director”, in relation to an authorised person, has the same meaning as in section 64A;”.\n(3) In section 66B (misconduct: action by PRA)—\n(a) omit the “or” at the end of subsection (2)(b)(i);\n(b) at the end of subsection (2)(b)(ii) insert\n“, or\n(iii) a director of a PRA-authorised person.”;\n(c) omit the “or” at the end of subsection (3)(b)(i);\n(d) at the end of subsection (3)(b)(ii) insert\n“, or\n(iii) a director of the PRA-authorised person.”;\n(e) omit the “and” at the end of subsection (5)(b);\n(f) at the end of subsection (5)(c) insert\n“, and\n(d) the senior manager did not take such steps as a person in the senior manager's position could reasonably be expected to take to avoid the contravention occurring (or continuing).”;\n(g) omit subsection (6);\n(h) in subsection (8) after the definition of “approved person” insert—\n““director”, in relation to an authorised person, has the same meaning as in section 64A;”.",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "I",
      "label": "I1",
      "text": "S. 25(1)(2)(e)(f)(g)(3)(e)(f)(g) in force at 10.5.2016 by S.I. 2016/569, reg. 2"
    },
    {
      "type": "I",
      "label": "I2",
      "text": "S. 25(2)(a)-(d)(h)(3)(a)-(d)(h) in force at 6.7.2016 by S.I. 2016/627, reg. 2(1)(s)"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/2016/14/section/25",
    "retrieved_at": "2026-10-29T09:06:19.191572+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}