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Section 64B Rules of conduct: responsibilities of ... authorised personsF1F9

United Kingdom

(1)

This section applies where a regulator makes rules under section 64A (“conduct rules”).

(2)

Every F2... authorised person must—

(a)

notify all relevant persons of the conduct rules that apply in relation to them, and

(b)

take all reasonable steps to secure that those persons understand how those rules apply in relation to them.

(3)

The steps which F3an authorised person must take to comply with subsection (2)(b) include, in particular, the provision of suitable training.

(4)

In this section “relevant person”, in relation to an authorised person, means—

(a)

any person in relation to whom an approval is given under section 59 on the application of the authorised person, F4...

(b)

any employee of the authorised person F5, and

(c)

any person who is a director of the authorised person.

F6(5)

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(6)

In this section “employee”, in relation to an authorised person, has the same meaning as in section 64A.

(F76A)

In this section “director”, in relation to an authorised person, has the same meaning as in section 64A.

F8(7)

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Annotations

Textual amendments

F1

Ss. 64A, 64B and cross-heading inserted (25.7.2014 for specified purposes, 7.3.2016 for specified purposes) by Financial Services (Banking Reform) Act 2013 (c. 33), ss. 30(3), 148(5); S.I. 2014/1819, art. 2(2)(c); S.I. 2015/490, art. 2(1)(d) (as inserted by S.I. 2015/2055, art. 2(4) and with savings and transitional provisions in S.I. 2015/492 (as amended by S.I. 2015/1660))

F2

Word in s. 64B(2) omitted (13.9.2018 for specified purposes, 10.12.2018 for specified purposes, 18.7.2019 for specified purposes, 9.8.2019 for specified purposes, 9.12.2019 for specified purposes, 7.12.2020 in so far as not already in force) by virtue of Bank of England and Financial Services Act 2016 (c. 14), s. 41(3), Sch. 4 para. 14(3); S.I. 2018/990, reg. 2(1)(2)(3) (with regs. 3-6); S.I. 2019/1136, reg. 2(2)(3)(4)(5) (with regs. 3-5, 7)

F3

Word in s. 64B(3) substituted (13.9.2018 for specified purposes, 10.12.2018 for specified purposes, 18.7.2019 for specified purposes, 9.8.2019 for specified purposes, 9.12.2019 for specified purposes, 7.12.2020 in so far as not already in force) by Bank of England and Financial Services Act 2016 (c. 14), s. 41(3), Sch. 4 para. 14(4); S.I. 2018/990, reg. 2(1)(2)(3) (with regs. 3-6); S.I. 2019/1136, reg. 2(2)(3)(4)(5) (with regs. 3-5, 7)

F4

Word in s. 64B(4)(a) omitted (6.7.2016) by virtue of Bank of England and Financial Services Act 2016 (c. 14), ss. 24(3)(a), 41(3); S.I. 2016/627, reg. 2(1)(r)

F5

S. 64B(4)(c) and word inserted (6.7.2016) by Bank of England and Financial Services Act 2016 (c. 14), ss. 24(3)(b), 41(3); S.I. 2016/627, reg. 2(1)(r)

F6

S. 64B(5) omitted (6.7.2016) by virtue of Bank of England and Financial Services Act 2016 (c. 14), ss. 24(3)(c), 41(3); S.I. 2016/627, reg. 2(1)(r)

F7

S. 64B(6A) inserted (6.7.2016) by Bank of England and Financial Services Act 2016 (c. 14), ss. 24(3)(d), 41(3); S.I. 2016/627, reg. 2(1)(r)

F8

S. 64B(7) omitted (13.9.2018 for specified purposes, 10.12.2018 for specified purposes, 18.7.2019 for specified purposes, 9.8.2019 for specified purposes, 9.12.2019 for specified purposes, 7.12.2020 in so far as not already in force) by virtue of Bank of England and Financial Services Act 2016 (c. 14), s. 41(3), Sch. 4 para. 14(5); S.I. 2018/990, reg. 2(1)(2)(3) (with regs. 3-6); S.I. 2019/1136, reg. 2(2)(3)(4)(5) (with regs. 3-5, 7)

F9

Word in s. 64B heading heading omitted (13.9.2018 for specified purposes, 10.12.2018 for specified purposes, 18.7.2019 for specified purposes, 9.8.2019 for specified purposes, 9.12.2019 for specified purposes, 7.12.2020 in so far as not already in force) by virtue of Bank of England and Financial Services Act 2016 (c. 14), s. 41(3), Sch. 4 para. 14(2); S.I. 2018/990, reg. 2(1)(2)(3) (with regs. 3-6); S.I. 2019/1136, reg. 2(2)(3)(4)(5) (with regs. 3-5, 7)

Notes on Part V

Modifications

C1

Pt. 5 modified (1.12.2001) by S.I. 2001/3592, arts. 1(2), 114(3)(a), 128(3)(a) (with art. 23(2))

C2

Pt. 5 modified (7.11.2018) by The EEA Passport Rights (Amendment, etc., and Transitional Provisions) (EU Exit) Regulations 2018 (S.I. 2018/1149), regs. 1(2), 23 (with regs. 4, 22, 26(1)(2)) (as amended (31.1.2020 immediately before exit day) by The Financial Services (Consequential Amendments) Regulations 2020 (S.I. 2020/56), regs. 1, 6(2))

C3

Pt. 5 modified by S.I. 2018/1149, reg. 69 (as inserted (1.3.2019) by The Financial Services Contracts (Transitional and Saving Provision) (EU Exit) Regulations 2019 (S.I. 2019/405), regs. 1(2), 4)