The Financial Services and Markets Act 2000 (Regulation of Auditors and Actuaries) (PRA Specified Powers) Order 2015 was laid before Parliament yesterday and will come into force on 20 February 2015: see here or here (pdf).The purpose of the Order is to bring into force provisions which permit the Prudential Regulation Authority, amongst other things, to disqualify an auditor or actuary from acting as such for any PRA-authorised person or particular class of PRA-authorised person. This power, contained in section 345A of the Financial Services and Markets Act 2000 (and inserted under Schedule 13 of the Financial Services Act 2012), required an Order by the Treasury to be brought into force. An explanatory memorandum is available here (pdf).
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