(1) The Financial Services and Markets Act 2000 is amended as follows.

(2) In section 64A (power of FCA and PRA to make rules of conduct) -

(a) in subsection (1) after paragraph (b) insert -

“(c) persons who are directors of authorised persons.”;

(b) in subsection (2) after paragraph (c) insert -

“(d) persons who are directors of PRA-authorised persons.”;

(c) omit the “and” at the end of subsection (5)(a);

(d) after subsection (5)(a) insert -

“(ab) in the case of a person who is a director of an authorised person but is not an approved person, that authorised person, and”;

(e) after subsection (6) insert -

“(7) In this section “director”, in relation to an authorised person, means a member of the board of directors, or if there is no such board, the equivalent body responsible for the management of the authorised person concerned.”