For the purposes of action by the PRA under section 66, a person is guilty of misconduct if any of conditions A to C is met in relation to the person.
Condition A is that—
Condition B is that—
In this section "relevant requirement" means a requirement—
Condition C is that—
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For the purposes of subsection (5)—
"senior manager", in relation to a ... PRA-authorised person, means a person who has approval under section 59 to perform a designated senior management function in relation to the carrying on by the authorised person of a regulated activity;
...
In this section—
"approved person"—
(a)means a person in relation to whom—
(b)in relation to an authorised person, means a person in relation to whom approval under section 59 is given on the application of the authorised person;
"director", in relation to an authorised person, has the same meaning as in section 64A;
"employee", in relation to a person, has the same meaning as in section 64A;
...
"relevant senior management function" means a function which the PRA is satisfied is a senior management function as defined in section 59ZA (whether or not the function has been designated as such by the FCA).
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