Paragraph 21

(1)

Section 343 (information given by auditor or actuary to a regulator: persons with close links) M1 is amended as follows.

(2)

After subsection (6) insert—

“(6A)
If the authorised person concerned is a credit institution or an investment firm, and an auditor or actuary communicates a matter to a regulator in accordance with the regulations, the matter must be disclosed simultaneously to the management body of the authorised person, unless there are compelling reasons not to do so.”.

(3)

After subsection (9) insert—

“(10)
In subsection (6A) “credit institution” and “investment firm” have the same meaning as in Article 4(1) of the capital requirements regulation.”.

Annotations

Marginal citations

M1: Section 343 was amended by Schedule 13, paragraphs 1, 5 to the Financial Services Act 2012.

Notes on the whole SI

Textual amendments

F1: 2000 c. 8. Section 349(2) was amended by section 41 of, and paragraphs 19(1) and (2) of Schedule 12 to, the Financial Services Act 2012 (c. 21); paragraphs 14(1)(b), 17(c), 18 and 22 of Schedule 3 were amended by section 12 of, and paragraphs 1, 3, 7, 8 and 14 of Schedule 4 to, the Financial Services Act 2012; paragraph 14(1)(b) was also amended by S.I. 2003/1473 and S.I. 2003/2066.