Financial Services and Markets Act 2000 (UK)
Approval, the Senior Managers Regime and the Certification Regime (Part 5, ss 59 to 66A) – Financial Services and Markets Act 2000 (UK)

Financial Services and Markets Act 2000 (UK) s66a: Statutory duty of responsibility

A senior manager is guilty of misconduct if their firm contravenes a relevant requirement in the area of the firm's business for which the senior manager is responsible, and the senior manager did not take such steps as a person in that position could reasonably be expected to take to avoid the contravention occurring (or continuing), per s 66A (and the equivalent provision for relevant authorised persons).

Maintained by Gerard Blokdyk

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