There has been published on the legislation.gov.uk website the Financial Services and Markets Act 2000 (Regulation of Auditors and Actuaries) (PRA Specified Powers) Order 2015 (the Order) together with an explanatory memorandum.

The Order specifies the enforcement powers under section 345A(5) of the Financial Services and Markets Act 2000, enabling the PRA to apply dissuasive sanctions to relevant auditors and actuaries, including public censure, monetary fines and disqualification, for non-compliance with PRA rules or statutory duties.

The Order will come into force on 20 February 2015.

View The Financial Services and Markets Act 2000 (Regulation of Auditors and Actuaries) (PRA Specified Powers) Order 2015, 27 January 2015