Section 59A(1)

The FCA must— keep under review the exercise of its power under section 59(3)(a) to specify any senior management function as a controlled function, and exercise that power in a way that it considers will minimise the likelihood that approvals fall to be given by both the FCA and the PRA in respect of the performance by a person of senior management functions in relation to the carrying on of a regulated activity by the same PRA-authorised person.

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Source: legislation.gov.uk · retrieved 2026-09-04