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Section 309I: Applications for approval

Financial Services and Markets Act 2000 · 2000 c. 8View on legislation.gov.uk

Part XVIII: Recognised investment exchanges, clearing houses , CSDs and other parties — CHAPTER 2A: Performance of functions of recognised bodies

A relevant recognised body may apply for approval from the appropriate regulator under section 309G for a person to perform a designated senior management function in relation to the carrying on of the body's activities.

The application must be made in such manner as the appropriate regulator may direct.

The application must contain—

a statement setting out the aspects of the applicant's affairs which it is intended that the person will be responsible for managing in performing the function, and
such other information as the appropriate regulator may reasonably require.

A statement provided under subsection (3)(a) is known as a "statement of responsibilities".

At any time after the application is received, and before it is determined, the appropriate regulator may require the applicant to provide it with such further information as it reasonably considers necessary to enable it to determine the application.

The appropriate regulator may require the applicant to present information provided under this section in such form, or to verify the information in such a way, as the appropriate regulator may direct.

Different directions may be given, and different requirements may be imposed, in relation to different applications or categories of application.

In subsection (1), "relevant recognised body" includes—

if recognised investment exchanges are a type of recognised body to which this Chapter applies, a person who has applied for recognition as such under section 287;
if recognised central counterparties are a type of recognised body to which this Chapter applies, a person who has applied for recognition as such under section 288;
if recognised CSDs are a type of recognised body to which this Chapter applies, a person who has applied for recognition as such under section 288A.

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This legislation text comes from legislation.gov.uk. Contains public sector information licensed under the Open Government Licence v3.0. These source and reuse terms cover the legislation text, not Remedy's commentary.

Reuse reviewed 21 August 2026 under Open Government Licence v3.0.