[55S Duty of FCA or PRA to consider other permissions]
[55S Duty of FCA or PRA to consider other permissions]

[(1)     “Additional Part 4A permission”—

(a)     in relation to either regulator, means a Part 4A permission which is in force in relation to an EEA firm or a Treaty firm, and

(b)     in relation to the FCA, also includes a Part 4A permission which is in force in relation to a person authorised as a result of paragraph 1(1) of Schedule 5.

(2)     If either regulator is considering whether, and if so how, to exercise its own-initiative variation power or its own-initiative requirement power in relation to an additional Part 4A permission, it must take into account—

(a)     the home state authorisation of the authorised person concerned,

(b)     any relevant directive, and