The FCA must make arrangements for meetings to take place at least once a year between—
the FCA, and
the auditor of any PRA-authorised person to which section 339C applies.
The PRA must make arrangements for meetings to take place at least once a year between—
the PRA, and
the auditor of any PRA-authorised person to which section 339C applies.
The annual report of each regulator must include the number of meetings that have taken place during the period to which the report relates between the regulator and auditors of PRA-authorised persons to which section 339C applies.
In subsection (3) "the annual report" means—
in relation to the FCA, every report which it is required by paragraph 11 of Schedule 1ZA to make to the Treasury, and
in relation to the PRA, every report which it is required by paragraph 19 of Schedule 1ZB to make to the Treasury.
In this section "auditor" means an auditor appointed under or as a result of a statutory provision.