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Section 1O: The Smaller Business Practitioner Panel

Financial Services and Markets Act 2000 · 2000 c. 8View on legislation.gov.uk

Part 1A: The Regulators — CHAPTER 1: The Financial Conduct Authority

Arrangements under section 1M must include the establishment and maintenance of a panel of persons (to be known as "the Smaller Business Practitioner Panel") to represent the interests of eligible practitioners.

"Eligible practitioners" means authorised persons of a description specified in a statement maintained by the FCA.

The FCA must appoint one of the members of the Smaller Business Practitioner Panel to be its chair.

The Treasury's approval is required for the appointment or dismissal of the chair.

The FCA must appoint to the Smaller Business Practitioner Panel such—

individuals who are eligible practitioners, and
persons representing eligible practitioners,

as it considers appropriate.

The FCA may appoint to the Smaller Business Practitioner Panel such other persons as it considers appropriate.

Subsections (5) and (6) are subject to section 1MA.

In making the appointments, the FCA must have regard to the desirability of ensuring the representation of eligible practitioners carrying on a range of regulated activities.

The FCA may revise the statement maintained under subsection (2).

The FCA must—

give the Treasury a copy of the statement or revised statement without delay, and
publish the statement as for the time being in force in such manner as it thinks fit.

About this text

This legislation text comes from legislation.gov.uk. Contains public sector information licensed under the Open Government Licence v3.0. These source and reuse terms cover the legislation text, not Remedy's commentary.

Reuse reviewed 21 August 2026 under Open Government Licence v3.0.