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Version status: In force | Document consolidation status: Updated to reflect all known changes
Version date: 13 September 2018 - onwards
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20. Statements of responsibilities

(1) Section 60 of FSMA 2000 (applications for approval) is amended as follows.

(2) After subsection (2) insert -

"(2A) If -

(a) the application is for the approval of a person to perform a designated senior management function, and

(b) the authorised person concerned is a relevant authorised person (see section 71A),

the appropriate regulator must require the application to contain, or be accompanied by, a statement setting out the aspects of the affairs of the authorised person concerned which it is intended that the person will be responsible for managing in performing the function.

(2B) A statement provided under subsection (2A) is known as a "statement of responsibilities".

(2C) In subsection (2A) "designated senior management function" means a function designated as a senior management function under section 59(6A) or (6B)."

(3) [deleted]

Comparing proposed amendment...