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Disclaimer: This is not legal advice. Legislation and case law change. Always consult a qualified solicitor for your specific situation.

UK Law Reference
All sections of Financial Services Act 2021
2021 c. 22, s.42

Section 42 — Appointment of chief executive of FCA

This version in force from 2021-06-29

Snapshot: 2026-08-24

Reproduced from legislation.gov.uk (Crown Copyright, Open Government Licence v3.0). Amendments made after 2026-08-24 may not be reflected — always check the official text .

(1) Schedule 1ZA to the Financial Services and Markets Act 2000 (Financial Conduct Authority) is amended as follows.

(2) In paragraph 2A—

(a) after sub-paragraph (1) insert— (1A) Appointment as chief executive under paragraph 2(2)(b) is to be for a period of 5 years., and

(b) in sub-paragraph (2), for “Sub-paragraph (1) does” substitute “ Sub-paragraphs (1) and (1A) do ”.

(3) After paragraph 2A insert—2B (1) A person may not be appointed as chief executive under paragraph 2(2)(b) more than twice. (2) For this purpose an appointment as chief executive on an acting basis, pending a further appointment being made, is to be ignored.