Regulation 6 Contravention of any provision of these Regulations

(1)

A ring-fenced body which contravenes any provision of these Regulations is to be taken to have contravened a requirement imposed on the body by the appropriate regulator under FSMA.

(2)

The contravention does not—

(a)

make a person guilty of an offence;

(b)

make a transaction void or unenforceable; or

(c)

give rise to any right of action for breach of statutory duty.

(3)

For the purpose of this regulation “the appropriate regulator” means—

(a)

in relation to a ring-fenced body which is a PRA-authorised person, the PRA;

(b)

in relation to any other ring-fenced body, the FCA.