Date-stamp loading
Version status: In force | Document consolidation status: Updated to reflect all known changes
Version date: 29 December 2023 - onwards
  Version 2 of 2    

53D. Relevant circumstances for purposes of sections 53B and 53C.

In determining the circumstances that are relevant for the purposes of subsection (2) of section 53B and subsections (1) and (2) of section 53C, as they apply in the case of any person performing functions in relation to a regulated financial service provider, matters to be considered include -

(a) the nature of the business of the regulated financial service provider, including its scale and complexity,

(b) the functions of the person in relation to the regulated financial service provider, and the level of knowledge and experience that a person with such functions could reasonably be expected to have,

(c) the level of knowledge and experience of the person,

(d) the existence and application (or otherwise) of -

(i) appropriate and effective systems (including risk management systems, internal control mechanisms and governance arrangements),

(ii) effective oversight of any delegation of responsibilities and effective safeguards against any inappropriate delegation, and

(iii) appropriat

Comparing proposed amendment...