Alternative versions

DEPP 2.1 Statutory notices

When statutory notices are required

DEPP 2.1.1 G 28/08/2007

1The circumstances in which the warning notice and decision notice procedure apply are set out in DEPP 2 Annex 1.

DEPP 2.1.2 G 28/08/2007

The circumstances in which the supervisory notice procedure apply are set out in DEPP 2 Annex 2.

DEPP 2.1.3 G 01/04/2013

DEPP 2 Annex 1 and DEPP 2 Annex 2 identify the provisions of the Act or other enactment giving rise to the need for the relevant notice, and whether the decision maker is the RDC or FCA 2 staff under executive procedures in each case.

Consistent decision making

DEPP 2.1.4 G 01/04/2013

FCA 2 staff responsible for the taking of a statutory notice decision under executive procedures may refer the matter to the RDC for the RDC to decide whether to give the statutory notice if:

(1)
the RDC is already considering, or is shortly to consider, a closely related matter; and
(2)
the relevant FCA 2 staff believe, having regard to all the circumstances, that the RDC should have responsibility for the decision. The relevant considerations might include:
2
1. (a)
  the desirability of consistency in FCA 2 decision making;
  2
2. (b)
  potential savings in the time and cost of reaching a decision;
3. (c)
  the factors identified in DEPP 3.3.2 G as relevant to an assessment of whether a decision should be regarded as straightforward.

DEPP 2.2 Warning notices and first supervisory notices

DEPP 2.2.1 G 01/04/2013

If FCA 2 staff consider that action requiring a warning notice or first supervisory notice is appropriate, they will recommend to the relevant decision maker that the notice be given.

DEPP 2.2.2 G 01/04/2013

For first supervisory notices, the FCA 1 staff will recommend whether the action should take effect immediately, on a specified date, or when the matter is no longer open to review (see DEPP 2.2.5 G).

DEPP 2.2.3 G 01/04/2013

The decision maker will:

(1)
consider whether the material on which the recommendation is based is adequate to support it; the decision maker may seek additional information about or clarification of the recommendation, which may necessitate additional work by the relevant FCA 2 staff;
2
(2)
satisfy itself that the action recommended is appropriate in all the circumstances;
(3)
decide whether to give the notice and the terms of any notice given.

DEPP 2.2.4 G 01/04/2013

If the FCA 2 decides to take no further action and theFCA 2 had previously informed the person concerned that it intended to recommend action, the FCA 2 will communicate this decision promptly to the person concerned.

2 2 2

DEPP 2.2.5 G 28/08/2007

A matter is open to review (as defined in section 391(8) (Publication) of the Act) (in relation to a supervisory notice which does not take effect immediately or on a specified date) when:

(1)
the period during which any person may refer a matter to the Tribunal is still running; or
(2)
the matter has been referred to the Tribunal but has not been dealt with; or
(3)
the matter has been referred to the Tribunal and dealt with but the period during which an appeal may be brought against the Tribunal's decision is still running; or
(4)
such an appeal has been brought but has not been determined.

DEPP 2.3 Decision notices and second supervisory notices

Approach of decision maker

DEPP 2.3.1 G 01/04/2013

If a decision maker is asked to decide whether to give a decision notice or second supervisory notice, it will:

(1)
review the material before it;
(2)
consider any representations made (whether written, oral or both) and any comments by FCA 1 staff or others in respect of those representations;
1
(3)
decide whether to give the notice and the terms of any notice given.

Default procedures

DEPP 2.3.2 G 01/04/2013

If the FCA 1 receives no response or representations within the period specified in a warning notice, the decision maker may regard as undisputed the allegations or matters in that notice and a decision notice will be given accordingly. A person who has received a decision notice and has not previously made any response or representations to the FCA 1, may nevertheless refer the FCA's 1 decision to the Tribunal.

1 1 1

DEPP 2.3.3 G 01/04/2013

If the FCA 1 receives no response or representations within the period specified in a first supervisory notice, the FCA 1 will not give a second supervisory notice. The outcome depends on when the relevant action took or takes effect (as stated in the notice). If the action:

1 1

(1)
took effect immediately, or on a specified date which has already passed, it continues to have effect (subject to any decision on a referral to the Tribunal); or
(2)
was to take effect on a specified date which is still in the future, it takes effect on that date (subject to any decision on a referral to the Tribunal); or
(3)
was to take effect when the matter was no longer open for review, it takes effect when the period to make representations (or the period for referral to the Tribunal, if longer) expires, unless the matter has been referred to the Tribunal.

DEPP 2.3.4 G 28/08/2007

In exceptional cases, the decision maker may permit representations from a person who has received a decision notice (or a second supervisory notice) or against whom action, detailed in a first supervisory notice, has taken effect, and shows on reasonable grounds that he did not receive the warning notice (or first supervisory notice), or that he had reasonable grounds for not responding within the specified period. In these circumstances, the decision maker may decide to give a further decision notice (or a written notice or a supervisory notice).

Further decision notice

DEPP 2.3.5 G 01/04/2013

Under section 388(3) of the Act, following the giving of a decision notice but before the FCA 1 takes action to which the decision notice relates, the FCA 1 may give the person concerned a further decision notice relating to different action concerning the same matter. Under section 388(4) of the Act, the FCA 1 can only do this if the person receiving the further decision notice gives its consent. In these circumstances the following procedure will apply:

1 1 1

(1)
FCA 1staff will recommend to the decision maker that a further decision notice be given, either before or after obtaining the person's consent;
1
(2)
the decision maker will consider whether the action proposed in the further decision notice is appropriate in the circumstances;
(3)
if the decision maker decides that the action proposed is inappropriate, he will decide not to give the further decision notice. In this case, the original decision notice will stand and the person's rights in relation to that notice will be unaffected. If the person's consent has already been obtained, the FCA 1 will notify the person of the decision not to give the further decision notice;
1
(4)
if the decision maker decides that the action proposed is appropriate then, subject to the person's consent being (or having been) obtained, a further decision notice will be given;
(5)
a person who had the right to refer the matter to the Tribunal under the original decision notice will have that right under the further decision notice. The time period in which the reference to the Tribunal may be made will begin from the date on which the further decision notice is given.

DEPP 2.3.6 G 01/04/2013

For the purpose of establishing whether the person receiving the further decision notice gives its consent, the FCA 1 will normally require consent in writing.

DEPP 2.4 Third party rights and access to FCA material1

DEPP 2.4.1 G 01/04/2013

Sections 393 (Third party rights) and 394 (Access to FCA 1 material) of the Act confer additional procedural rights relating to third parties and to disclosure of FCA 1 material. These rights apply in certain warning notice and decision notice cases referred to in section 392 of the Act (Application of sections 393 and 394). The cases in which these additional rights apply are identified in DEPP 2 Annex 1 by asterisks; these are generally cases in which the warning notice or decision notice is given on the FCA's 1 own initiative rather than in response to an application or notification made to the FCA 1.

1 1 1 1

DEPP 2.5 Provision for certain categories of decision

Purpose

DEPP 2.5.1 G 28/08/2007

Some of the decisions referred to in DEPP 2 Annex 1 and DEPP 2 Annex 2 share similar characteristics. For convenience, DEPP 2.5 sets out some of these and the particular features they have.

Different decision makers

DEPP 2.5.2 G 01/04/2013

The decision to give a warning notice and a decision notice in a particular matter will often not be taken by the same decision maker. Certain types of action require that the warning notice decision be taken by FCA 6 staff under executive procedures and the decision notice decision be taken by the RDC. Similarly, in enforcement cases the RDC might take the decision to give a warning notice,4 but the decision to give a decision notice could be taken by the settlement decision makers on the basis that the person concerned does not contest the action proposed (see DEPP 5).

6 4

Decisions relating to applications for FCA authorisation or approval6

DEPP 2.5.3 G 07/03/2016

FCA 6 staff under executive procedures will take the decision to give a warning notice if the FCA 6 proposes to:

6 6

(1)
refuse an application for a Part 4A permission 6 or to refuse an application to cancel a Part 4A permission 6;
6 6
(2)
impose a limitation or a requirement which was not applied for, or specify a narrower description of regulated activity than that applied for, on the grant of a Part 4A permission 6;
6
(3)
refuse an application to vary a Part 4A permission 6, or to restrict a Part 4A permission 6 on the grant of a variation (by imposing a limitation or a requirement which was not applied for or by specifying a narrower description of regulated activity than that applied for);
6 6
(3A)
refuse an application to vary a requirement imposed under section 55L of the Act, or to impose a new requirement;6
(3B)
exercise its power under section 55L(1) of the Act in connection with an application to the PRA for a Part 4A permission or the variation of a Part 4A permission;6
(4)
refuse approved person status;
(4A)
grant a relevant senior manager application, subject to any conditions or only for a limited period;9
(4B)
refuse an application to vary an approval under section 59 of the Act that was granted subject to conditions;9
(5)
refuse an application for a small e-money issuer certificate (see ELM 8 (Small e-money issuers));
(6)
refuse an application for variation or rescission of a requirement imposed on an incoming EEA firm.

DEPP 2.5.4 G 28/08/2007

If no representations are made in response to a warning notice proposing the action set out at DEPP 2.5.3 G within the period specified, a decision notice will be given accordingly: see DEPP 2.3.2 G (Default procedures).

DEPP 2.5.5 G 07/03/2016

If representations are made in response to a warning notice proposing the action set out at DEPP 2.5.3G (1), DEPP 2.5.3G (4), DEPP 2.5.3G(4A), DEPP 2.5.3G(4B)9 or DEPP 2.5.3G (5), then the RDC will take the decision to give a decision notice.

DEPP 2.5.5A G 01/04/2013

6If representations are made in response to a warning notice proposing the action set out at DEPP 2.5.3G (3B), FCA staff under executive procedures will take the decision to give a decision notice.

DEPP 2.5.6 G 01/04/2013

If representations are made in response to a warning notice proposing the action set out atDEPP 2.5.3G (2), DEPP 2.5.3G (3), DEPP 2.5.3G (3A),6 or DEPP 2.5.3G (6), then the RDC will take the decision to give a decision notice if the action involves a fundamental variation or requirement6 (see DEPP 2.5.8 G). Otherwise, the decision to give the decision notice will be taken by FCA 6 staff under executive procedures.

6 6 6 6

Decisions relating to applications for PRA authorisation or approval

DEPP 2.5.6A G 07/03/2016

6 FCA staff under executive procedures will take the decision where the FCA is proposing or deciding to:

(1)
refuse its consent to the granting by the PRA of an application for a Part 4A permission, or give its consent subject to conditions;
(2)
refuse its consent to the granting by the PRA of an application for the variation of a Part 4A permission, or give its consent subject to conditions; or
(3)
refuse its consent to the granting by the PRA of an application to perform a controlled function, or give its consent subject to conditions9.

FCA's own-initiative powers6

DEPP 2.5.7 G 01/04/2013

The RDC will take the decision to give a supervisory notice exercising the FCA's 6 own-initiative powers 6 (by removing a regulated activity, by imposing a limitation or requirement or by specifying a narrower description of regulated activity) if the action involves a fundamental variation or requirement6 (see DEPP 2.5.8 G). Otherwise, the decision to give the supervisory notice 6 will be taken by FCA 6 staff under executive procedures.

6 6 6 6 6

DEPP 2.5.7A G 01/04/2013

3Notwithstanding DEPP 2.5.7 G, FCA 6 staff under executive procedures will be the decision maker whenever a firm agrees not to contest the FCA's 6 exercise of its own-initiative powers,6 including where the FCA's 6 action involves a fundamental variation or requirement.6

6 6 6 6 6

DEPP 2.5.8 G 01/04/2013

A fundamental variation or requirement means:6

(1)
removing a type of activity or investment from the firm's permission; or
(2)
refusing an application to include a type of activity or investment; or
(3)
[deleted]6
6
(4)
imposing or varying an assets requirement (as defined in section 55P6 of the Act (Prohibitions and restrictions)), or refusing an application to vary or cancel such a requirement.
6

The FCA’s power to vary SMF manager’s approval on its own initiative

DEPP 2.5.8A G 07/03/2016

9The RDC will take the decision under section 63ZB of the Act to vary an approval given to an SMF manager (by imposing a condition, varying a condition, removing a condition or limiting the period for which the approval is to have effect).

DEPP 2.5.8B G 07/03/2016

9Notwithstanding DEPP 2.5.7G, FCA staff under executive procedures will be the decision maker whenever all of the interested parties (as defined by section 63ZC(6) of the Act) agree not to contest the FCA’s exercise of its power under section 63ZB of the Act.

DEPP 2.5.8C G 07/03/2016

9The FCA’s statement of policy on the use of the power to vary an SMF manager’s approval on its own initiative is set out in DEPP 8.

Decisions relating to listing of securities

DEPP 2.5.9 G 01/04/2013

FCA 6 staff under executive procedures will take the following statutory notice decisions:

(1)
the refusal of an application for listing of securities;
(2)
the suspension of listing on the FCA's 6 own initiative or at the request of the issuer;
6
(3)
[deleted]2
2
(4)
the discontinuance of listing of securities at the issuer's request;
(5)
the exercise of any of the powers in sections 87K or 87L of the Act in respect of a breach of any applicable provision; and2
(6)
[deleted]2
2
(7)
the refusal of an application by an issuer for cancellation of a suspension of listing made under section 77 of the Act.

DEPP 2.5.10 G 01/04/2013

The RDC will take statutory notice decisions relating to the discontinuance of listing of securities on the FCA's 6 own initiative.

DEPP 2.5.11 G 01/04/2013

If securities have matured or otherwise ceased to exist the FCA 6 will remove any reference to them from the official list. This is a purely administrative process, and not a discontinuance of listing in the sense used in Part 6 of the Act.

Decisions relating to imposition of limitations or other restrictions of sponsors and primary information providers.6

Decisions relating to imposition of limitations or other restrictions of sponsors and primary information providers

DEPP 2.5.11A G 01/04/2013

6Under section 88(4)(aa) of the Act, if the FCA proposes to impose limitations or other restrictions on the services to which a sponsor's approval relates, it must give him a warning notice. If, after considering any representations made in response to the warning notice, the FCA decides to impose limitations or other restrictions on the services to which a sponsor's approval relates, it must give him a decision notice. Where the sponsor has requested or otherwise agrees to the limitation or other restriction, FCA staff under executive procedures will take the decision to give the warning notice and decision notice. Otherwise, the RDC will take the decision to give the warning notice and decision notice.

DEPP 2.5.11B G 01/04/2013

6If the FCA is proposing or deciding to refuse a sponsor's application for the withdrawal or variation of a limitation or other restriction on the services to which a sponsor's approval relates under section 88(8)(d) of the Act, the decision maker will be FCA staff under executive procedures where FCA staff decided to impose the limitation or other restriction. Otherwise, the RDC will take the decision to give the warning notice and decision notice.

DEPP 2.5.11C G 01/04/2013

6Under section 89P(5)(b) of the Act, if the FCA proposes to impose limitations or other restrictions on the dissemination of regulated information to which a primary information provider's approval relates, it must give him a warning notice. If, after considering any representations made in response to the warning notice, the FCA decides to impose limitations or other restrictions on the dissemination of regulated information to which a primary information provider's approval relates, it must give him a decision notice. Where the primary information provider has requested or otherwise agrees to the limitation or other restriction, FCA staff under executive procedures will take the decision to give the warning notice and decision notice. Otherwise, the RDC will take the decision to give the warning notice and decision notice.

DEPP 2.5.11D G 01/04/2013

6Under section 89P(9)(d) of the Act, if the FCA is proposing or deciding to refuse a primary information provider's application for the withdrawal or variation of a limitation or other restriction on the dissemination of regulated information to which a primary information provider's approval relates, the decision maker will be FCA staff under executive procedures where FCA staff decided to impose the limitation or other restriction. Otherwise, the RDC will take the decision to give the warning notice and decision notice.

Modified procedures in collective investment scheme and certain other cases

DEPP 2.5.12 G 01/04/2013

FCA 6 staff will usually inform or discuss with the person concerned any action they contemplate before they recommend to the RDC that the FCA 6 takes formal action. The FCA 6 may also be invited to exercise certain powers by the persons who would be affected by the exercise of those powers. In these circumstances if the person concerned has agreed to or accepted the action proposed then the decisions referred to in DEPP 2.5.13 G will be taken by FCA 6 staff under executive procedures rather than by the RDC.

6 6 6 6

DEPP 2.5.13 G 01/07/2013

The decisions referred to in DEPP 2.5.12 G are:

(1)
the decision to give a supervisory notice pursuant to section 259(3), (8) or 9(b) (directions on authorised unit trust schemes); section 268(3), 7(a) or 9(a) (directions in respect of recognised overseas schemes); or section 282(3), (6) or (7)(b) (directions in respect of relevant recognised schemes) of the Act;
(1A)
the decision to give a supervisory notice pursuant to section 261Z1(3), (8) or (9)(b) (Procedure on giving directions under section 261X or 261Z and varying them on FCA's own initiative) of the Act;7
(2)
the decision to give a warning notice or decision notice pursuant to section 280(1) or (2)(a) (revocation of recognised investment scheme) of the Act;
(3)
the decision to give a supervisory notice in accordance with regulation 27(3), (8) or 9(b) of the OEIC Regulations;and6
(4)
the decision to give a warning notice or decision notice pursuant to regulation 24 or regulation 28 of the OEIC Regulations.6
(4A)
the decision to give a warning notice or decision notice pursuant to section 255 or 260 of the Act;7
(4B)
the decision to give a warning notice or decision notice pursuant to section 261V or 261Z2 of the Act;7
(5)
[deleted]6
6
(6)
[deleted]6
6

DEPP 2.5.14 G 28/02/2014

In determining whether there is agreement to or acceptance of the action proposed, an indication by the following persons will be regarded as conclusive:

(1)
in relation to an authorised unit trust scheme, the manager and trustee;8
8
(1A)
in relation to an authorised contractual scheme, the authorised contractual scheme manager and depositary;7
(2)
in relation to an ICVC, the directors and the depositary;8
8
(3)
in relation to a recognised scheme, the operator and, if any, the trustee 8or depositary.
8

DEPP 2.5.15 G 01/07/2013

A decision to give a warning notice or decision notice refusing an application for an authorisation order declaring a scheme 7 to be an AUT, ACS 7 or ICVC 2 will be taken by the RDC only if the application is by an authorised fund manager who is not the operator of an existing AUT, ACS 7 or ICVC. Otherwise, the decision to give the warning notice or decision notice will be taken by FCA 6 staff under executive procedures.2

7 6 2

DEPP 2.5.16 G 01/04/2013

A notice under paragraph 15A(4) of Schedule 3 to5 the Act relating to the application by an EEA firm for approval to manage a UCITS scheme 5 is not a warning notice, but the FCA 6 will operate a procedure for this5 notice which will be similar to the procedure for a warning notice.

5 5 5 6 5

Notices under other enactments6

DEPP 2.5.17 G 01/04/2013

The FCA 6 expects to adopt a procedure in respect of notices under enactments other than the Act which is similar to that for statutory notices under the Act, but which recognises any differences in the legislative framework and requirements. DEPP 2 Annex 1 and DEPP 2 Annex 2 therefore identify notices to be given pursuant to other enactments and the relevant FCA 6 decision maker.

6 6

DEPP 2.5.18 G 01/04/2013

Some of the distinguishing features of notices given under enactments other than the Act are as follows:

(1)
[deleted]6
6
(2)
[deleted]6
6
(3)
Friendly Societies Act 1992, section 58A1: The warning notice and decision notice must set out the terms of the direction which the FCA 6 proposes or has decided to give and any specification of when the friendly society is to comply with it. A decision notice given under section 58A(3) must give an indication of the society's right, given by section 58A(5), to have the matter referred to the Tribunal. A decision notice under section 58A(3) may only relate to action under the same section of the Friendly Societies Act 1992 as the action proposed in the warning notice. A final notice under section 390 of the Act must set out the terms of the direction and state the date from which it takes effect. Section 392 of the Act is to be read as if it included references to a warning notice given under section 58A(1) and a decision notice given under section 58A(3).
1 6

DEPP 2 Annex 1 Warning notices and decision notices under the Act and certain other enactments

G 01/10/2016

Note: Third party rights and access to FCA 18 material apply to the powers listed in this Annex where indicated by an asterisk * (see DEPP 2.4)

Section of the Act	Description	Handbook reference	Decision maker
55X(1)(a) and(b)18 18	when the FCA 18 is proposing to grant an application for a Part 4A permission 18 with a limitation or a requirement which was not applied for, or with a narrower description of regulated activity than that applied for 18 18	SUP 6	Executive procedures
55X(1)(c) and (d)18 18	when the FCA 18 is proposing to grant an application to vary a firm's Part 4A permission 18 but, other than as part of the application, to restrict the Part 4A permission 18 (either by imposing a limitation or requirement which was not applied for or by specifying a narrower description of regulated activity than that applied for) 18 18 18		Executive procedures
1855X(1)(e)	when the FCA is proposing to exercise its power under section 55L(1) in connection with an application to the PRA for a Part 4A permission or the variation of a Part 4A permission		Executive procedures
55X(2)18 18	when the FCA 18 is proposing to refuse an application for a Part 4A permission 18 18 18		Executive procedures
55X(2)18 18	when the FCA 18 is proposing to refuse an application to vary a firm's Part 4A permission 18 18 18	SUP 6	Executive procedures
55X(2)18 18	when the FCA 18 is proposing to refuse an application to cancel a firm's Part 4A permission 18 18 18	SUP 6	Executive procedures
1855X(2)	when the FCA is proposing to refuse an application for the variation of a requirement imposed under section 55L or for the imposition of a new requirement		RDC or executive procedures See DEPP 2.5.6 G
55X(4)(a) 55X(4)(b)18 18	when the FCA 18 is deciding to grant an application for a Part 4A permission 18 with a limitation or a requirement which was not applied for, or with a narrower description of regulated activity than that applied for 18 18		RDC or executive procedures See DEPP 2.5.6 G
55X(4)(c) 55X(4)(d)18 18	when the FCA 18 is deciding to grant an application to vary a firm's Part 4A permission 18but, other than as part of the application, to restrict the Part 4A permission 18 (either by imposing a limitation or requirement which was not applied for or by specifying a narrower description of regulated activity than that applied for) 18 18 18	SUP 6	RDC or executive procedures See DEPP 2.5.6 G
1855X(4)(e)	when the FCA is deciding to exercise its power under section 55L(1) in connection with an application to the PRA for a Part 4A permission or the variation of a Part 4A permission
55X(4)(f)18 18	when the FCA 18 is deciding to refuse an application for a Part 4A permission 18 18 18		RDC or executive procedures See DEPP 2.5.5 G
55X(4)(f)18 18	when the FCA 18 is deciding to refuse an application to vary a firm's Part 4A permission 18 18 18	SUP 6	RDC or executive procedures See DEPP 2.5.6 G
55X(4)(f)18 18	when the FCA 18 is deciding to refuse an application to cancel a firm's Part 4A permission 18 18 18	SUP 6	RDC or executive procedures See DEPP 2.5.5 G
1855X(4)(f)	When the FCA is deciding to refuse an application for the variation of a requirement imposed under section 55L or for the imposition of a new requirement		RDC or executive procedures See DEPP 2.5.6 G
55Z(1) 55Z(2)18 18	when the FCA 18 is proposing or deciding to cancel a firm's Part 4A permission 18 otherwise than at its request * 18 18		RDC
57(1)/(3)	when the FCA 18 is proposing or deciding to make a prohibition order against an individual* 18		RDC
58(3)/(4)	when the FCA 18 is proposing or deciding to refuse an application for the variation or revocation of a prohibition order 69		RDC
62(2)	when the FCA 18 is proposing to refuse an application for approval of a person performing a controlled function or to grant the application subject to conditions or for a limited period (or both)27 18	SUP 10A and SUP 10C27	Executive procedures
62(3)	when the FCA 18 is deciding to refuse an application for approval of a person performing a controlled function or to grant the application subject to conditions or for a limited period (or both)27 18	SUP 10A and SUP 10C27	RDC or executive procedures See DEPP 2.5.5 G
63(3)/(4)	when the FCA 18 is proposing or deciding to withdraw approval from an approved person * 18		RDC
863B(1)/(3)	when the FCA 18 is proposing or deciding to impose a penalty on a person under section 63A* 18		RDC
2763ZA(4)(b) and 62(2)	when the FCA is proposing to refuse an application for variation of an approval granted to an SMF manager, subject to conditions	SUP 10C	Executive procedures
2763ZA(8) and 62(3)	when the FCA is deciding to refuse an application for variation of an approval granted to an SMF manager, subject to conditions	SUP 10C	RDC or executive procedures See DEPP 2.5.5G
67(1)/(4)	when the FCA 18 is proposing or deciding to take action against an individual27 by exercising the disciplinary powers conferred by section 66* 18		RDC
76(4)/(5)	when the FCA 18 is proposing or deciding to refuse an application for listing of securities 18	LR 2 and LR 3	Executive procedures
78(10)/(11)(a)	when the FCA 18 has suspended, on its own initiative,3 the listing of securities 3and is proposing or deciding to refuse an application by an issuer for cancellation of the suspension 18 3	LR 5	Executive procedures
378A(4)/(5)	When the FCA 18 is proposing or deciding to refuse an application by the issuer of the securities for the discontinuance or suspension of the listing of the securities 18	LR 5	Executive procedures
378A(7)/(8)(a)	When the FCA 18 has suspended the listing of securities on the application of the issuer of the securities and is proposing or deciding to refuse an application by the issuer for the cancellation of the suspension 18	LR 5	Executive procedures
87M(2)/(3)	when the FCA 18 is proposing or deciding to publish a statement censuring an issuer of transferable securities, a person offering transferable securities to the public or a person requesting the admission of transferable securities to trading on a regulated market 18		RDC 3 4 7
788(4)(a) 88(6)(a) 88(8)(a)18 18	when the FCA 18 is proposing or deciding to refuse a person's application for approval as a sponsor 18 18 10 18	LR 8	RDC
1888(4)(a) 88(6)(a) 88(8)(b)	when the FCA is proposing or deciding to refuse a sponsor's application for the suspension of an approval as a sponsor		Executive procedures
1888(4)(a) 88(6)(a) 88(8)(c)	when the FCA is proposing or deciding to refuse a sponsor's application for the withdrawal of the suspension of an approval as a sponsor		Executive procedures
1888(4)(a) 88(6)(a) 88(8)(d)	when the FCA is proposing or deciding to refuse a sponsor's application for the withdrawal or variation of a limitation, or other restriction on the services to which a sponsor's approval relates		RDC or executive procedures See DEPP 2.5.11B G
1888(4)(aa) 88(6)(aa)	when the FCA is proposing or deciding to impose limitations or restrictions on the services to which a sponsor's approval relates		RDC or executive procedures See DEPP 2.5.11A G
1888(4)(b) 88(6)(b)	when the FCA is proposing or deciding to cancel a sponsor's approval as a sponsor otherwise than at the sponsor's request*		RDC
1888B(1) 88B(5)	when the FCA is proposing or deciding to take action against a sponsor by exercising the disciplinary powers conferred by section 88A*		RDC
989K(2)/(3)	when the FCA 18 is proposing or deciding to publish a statement that an issuer of securities admitted to trading on a regulated market is failing or has failed to comply with an applicable transparency obligation 18		RDC
1889P(5)(a) 89P(7)(a) 89P(9)(a)	when the FCA is proposing or deciding to refuse a person's application for approval as a primary information provider		RDC
1889P(5)(a) 89P(7)(a)89P(9)(b)	when the FCA is proposing or deciding to refuse a primary information provider's application for the suspension of an approval as a primary information provider		Executive procedures
1889P(5)(a) 89P(7)(a) 89P(9)(c)	when the FCA is proposing or deciding to refuse a primary information provider's application for the withdrawal of the suspension of an approval as a primary information provider		Executive procedures
1889P(5)(a) 89P(7)(a) 89P(9)(d)	when the FCA is proposing or deciding to refuse a primary information provider's application for the withdrawal or variation of a limitation or other restriction on the dissemination of regulated information to which a primary information provider's approval relates		RDC or executive procedures See DEPP 2.5.11D G
1889P(5)(b) 89P(7)(b)	when the FCA is proposing or deciding to impose limitations or other restrictions on the dissemination of regulated information to which a primary information provider's approval relates.		RDC or executive procedures See DEPP 2.5.11A G
89P(5)(c) 89P(7)(c)	when the FCA is proposing or deciding to cancel a person's approval as a primary information provider otherwise than at the primary information provider's request		RDC
89R(1) 89R(5)	when the FCA is proposing or deciding to take action against a primary information provider by exercising the disciplinary powers conferred by section 89Q		RDC
92(1)/(4)	when the FCA 18 is proposing or deciding to take action against any person under section 91 for breach of Part 6 rules*4 18		RDC
126(1)/ 127(1)	when the FCA 18 is proposing or deciding to impose a penalty or public censure under section 123 of the Act, a disciplinary prohibition under section 123A of the Act, or a suspension or restriction under section 123B of the Act 29* 18		RDC
8131H(1)/ (4)	when the FCA 18 is proposing or deciding to take action against a person under section 131G* 18		RDC
27142T(1)/ (4)	when the FCA is proposing or deciding to take action against a person under section 142S*		RDC
189(4)/(7)6 6	when the FCA 18 is proposing or deciding to object to a change in control following receipt of a section 178 notice 6 18 6	SUP 11	Executive procedures
189(4)/(7)6 6	when the FCA 18 is proposing or deciding to approve a change in control with conditions, following receipt of a section 178 notice 6 18 6	SUP 11	Executive procedures
187(1)/(3) and 188(1)191A(4)/(6)6	when the FCA 18 is proposing or deciding to object to a person who has acquired or increased control without giving a section 178 notice 6 18 6	SUP 11	Executive procedures 6
6191A(4)/(6)	when the FCA 18 is proposing or deciding to object to a person's control on the basis of the matters in section 186 18	SUP 11	Executive procedures
6191A(4)/(6)	when the FCA 18 is proposing or deciding to object to a person's control on the grounds that he is in breach of a condition imposed under section 187 18	SUP 11	Executive procedures
18192L(1) 192L(4)	when the FCA is proposing or deciding to take action against a qualifying parent undertaking by exercising the disciplinary powers conferred by section 192K*		RDC
200(4)/(5)	when the FCA 18 is proposing or deciding to refuse an application for variation or rescission of a requirement imposed on an EEA incoming firm 18		RDC or executive procedures See DEPP 2.5.6 G
207(1)/ 208(1)	when the FCA 18 is proposing or deciding to publish a statement (under section 205) or impose a financial penalty (under section 206) or suspend a permission or impose a restriction in relation to the carrying on of a regulated activity (under section 206A). This applies in respect of an authorised person, or an unauthorised person to whom section 404C applies.*12 12 18 8 8 8		RDC
245(1)/(2)	when the FCA 18 is proposing or deciding to refuse an application for an authorisation order declaring a unit trust scheme to be an AUT 18	COLL 2	RDC or executive procedures See DEPP 2.5.15 G
18249 345B(1)/(4)	when the FCA is proposing or deciding to take action against an auditor by exercising the disciplinary powers conferred by section 249*		RDC
252(1)/(4)	when the FCA 18 is proposing or deciding to refuse approval of a proposal to replace the trustee or manager of an AUT 18	COLL 2	Executive procedures
11252A(4)(b)/(6)(a)	when the FCA 18 is proposing or deciding to refuse approval of a proposal by the manager of a feeder UCITS to make an alteration to the trust deed to enable the feeder UCITS to convert into a UCITS scheme which is not a feeder UCITS 18	COLL 11	Executive procedures
255(1)/(2)	when the FCA 18 is proposing or deciding to make an order under section 254 revoking the authorisation order of an AUT * 18	None, but see Chapter 14 of the Regulatory Guide EG.	RDC 9
9256(4)/(5)	when the FCA 18 is proposing or deciding to refuse a request for the revocation of the authorisation order of an AUT 18		RDC
260(1)/(2)	when the FCA 18, on an application to revoke or vary a direction under section 257, proposes or decides to refuse to revoke or vary the direction or proposes or decides to vary the direction otherwise than in accordance with the application 18		RDC 19
19261G(1)/(2)	when the FCA is proposing or deciding to refuse an application for an authorisation order declaring a scheme to be an ACS	COLL 2	RDC or executive procedures See DEPP 2.5.15 G
19261R(1)/(4)	when the FCA is proposing or deciding to refuse approval of a proposal to replace the depositary or authorised contractual scheme manager of an ACS	COLL 2	Executive procedures
19261S(4)(b)/ (6)(a)	when the FCA is proposing or deciding to refuse approval of a proposal by the authorised contractual scheme manager of an ACS which is a feeder UCITS to make an alteration to the contractual scheme deed to enable the feeder UCITS to convert into a UCITS scheme which is not a feeder UCITS	COLL 11	Executive procedures
19261V(1)/(2)	when the FCA is proposing or deciding to make an order under section 261U revoking the authorisation order of an ACS*	None, but see Chapter 14 of the Regulatory Guide EG.	RDC
19261W(4)/(5)	when the FCA is proposing or deciding to refuse a request for the revocation of the authorisation order of an ACS		RDC
19261Z2(1)/(2)	when the FCA, on an application to revoke or vary a direction under section 261X, proposes or decides to refuse to revoke or vary the direction or proposes or decides to vary the direction otherwise than in accordance with the application		RDC
264(2)/ 265(4)	[deleted]11 11		11
269(1)/(2)	when the FCA 18, on an application under section 267(4) or (5) by an operator of a section 264 recognised scheme to revoke or vary a direction that the promotion of the scheme be suspended, proposes or decides to refuse the application or to vary the direction otherwise than in accordance with the application 18		RDC 20
276(1)/(2)	when the FCA 18 is proposing or deciding to refuse an application for an order declaring a collective investment scheme to be a recognised scheme under section 272 18	COLL 9	Executive procedures
280(1)/(2)	when the FCA 18 is proposing or deciding to revoke a section 272 order in respect of a recognised scheme * 18 20		RDC
1301G(3)(b)/(5)6 6	when the FCA 18 is proposing or deciding1 2 to object to a proposed acquisition 6of a UK RIE following receipt of a section 301A 6notice . 18 6 6	REC 4.2C	Executive procedures 1 2
2301I(3)/(4)6 6	when the FCA 18 is proposing or deciding to object to a person who has acquired or increased control in a UK RIE without giving a section 301 notice6 18 6	REC 4.2C	Executive procedures
2301I(3)/(4)6 6	when the FCA 18 is proposing or deciding to object to a person's control in a UK RIE on the basis of the approval requirement in section 301F(4)6 18 6	REC 4.2C	Executive procedures
18312G(1) 312H(1)	when the FCA is proposing or deciding to take action against a recognised investment exchange by exercising the disciplinary powers conferred by sections 312E and 312F*		RDC
1313B(9)	[deleted]9 9	9	9
2313B(10)/(11)	[deleted]9 9	9	9
9313BB(5)/ 313BC(5)	when, upon the application of an institution, the FCA 18 is proposing or deciding not to revoke a requirement imposed on an institution under section 313A or is proposing or deciding that a requirement imposed on a class of institutions under section 313A will continue to apply to the applicant 18	REC 4.2D	Executive procedures
9313BD(5)/ 313BE(4)	when, upon the application of an issuer, the FCA 18 is proposing or deciding not to revoke a requirement imposed on an institution or a class of institutions under section 313A or to revoke a requirement imposed on a class of institutions under section 313A in relation to the class apart from one or more specified members of it, or one or more specified members of the class only 18	REC 4.2D	Executive procedures
331(1)/(3)	when the FCA 18 is proposing or deciding to make an order disapplying the exemption from the general prohibition under section 327* 18		RDC
331(7)/(8)	when the FCA 18 is proposing or deciding to refuse an application for the variation or revocation of an order made under section 329* 18		RDC
345B(1) 345B(4)18 18	when the FCA 18 is proposing or deciding to disqualify an auditor or actuary from being the auditor of, or acting as an actuary for, any authorised person or class of authorised person or from being the auditor of any AUT, ACS 19 or ICVC *		RDC
18345B(1) 345B(4)	when the FCA is proposing or deciding to disqualify an auditor from being the auditor of any recognised investment exchange or any class of recognised investment exchange*		RDC
18345B(1) 345B(4)	when the FCA is proposing or deciding to take action against an auditor or actuary by exercising the disciplinary powers conferred by sections 345(2)(c) or (d)*		RDC
385(1)/ 386(1)	when the FCA 18 is proposing or deciding to exercise the power under section 384(5) to require a person to pay restitution* 18		RDC 17
17404A(8)(a)	In connection with a consumer redress scheme, when the FCA is proposing to make a determination of whether a failure by a relevant firm has caused (or may cause) loss or damage to a consumer, or what the redress should be in respect of the failure18	CONRED	Executive procedures
18404A(8)(a)	In connection with a consumer redress scheme, when the FCA is deciding to make a determination of whether a failure by a relevant firm has caused (or may cause) loss or damage to a consumer, or what the redress should be in respect of the failure	CONRED	Executive procedures
1412B(2)/(3)	when the FCA 18 is proposing/deciding to refuse to approve a relevant system as defined in section 412A(9) of the Act 18		Executive procedures
1412B(4)/(5)	when the FCA 18 is proposing/deciding to suspend or withdraw its approval in relation to a relevant system as defined in section 412A(9) of the Act* 18		Executive procedures
1412B(8)/(9)	when the FCA 18 is proposing/deciding to refuse an application to cancel the suspension of approval in relation to a relevant system as defined in section 412A(9) of the Act* 18		Executive procedures 11
11Paragraph 15A(4) of Schedule 3	when the FCA 18 is notifying an EEA firm wishing to manage a UCITS scheme and its Home State regulator that the EEA firm does not comply with the fund application rules, or is not authorised by its Home State regulator to manage the type of collective investment scheme for which authorisation is required, or has not provided the documentation required under article 20(1) of the UCITS Directive 18	SUP 13A See DEPP 2.5.16 G	Executive procedures
Paragraph 15A(5) of Schedule 3	[deleted]11 11		11
11Paragraph 15B(2)18(a) of Schedule 3 18	when the FCA 18 is deciding not to withdraw a notice issued to an EEA firm wishing to manage a UCITS scheme and to its Home State regulator that the EEA firm does not comply with the fund application rules, or is not authorised by its Home State regulator to manage the type of collective investment scheme for which authorisation is required, or has not provided the documentation required under article 20(1) of the UCITS Directive 18	SUP 13A	Executive procedures
Paragraph 19(8)/ (12) of Schedule 3	when the FCA 18 is proposing or deciding to refuse to give a consent notice to a UK firm wishing to establish a branch under an EEA right 18	SUP 13	RDC

Section of the Credit Unions Act 1979	Description	Handbook reference	Decision maker
20	where the FCA 18 is proposing to cancel or suspend the registration of a credit union or to petition for the winding up of a credit union 18	14	RDC

15 Articles of the Credit Unions (Northern Ireland) Order 1985	Description	Handbook reference	Decision maker
60(1), 61(1) and 63	where the FCA 18 is proposing to consent to the Registrar of Credit Unions for Northern Ireland cancelling or suspending the registration of a Northern Ireland credit union, or petitioning for the winding up of a Northern Ireland credit union 18		RDC

Section of the Friendly Societies Act 1992	Description	Handbook reference	Decision maker
58A(1)(a)/(3)(a)	when the FCA 18 is proposing or deciding to give a direction under section 54 or section 55 requiring a friendly society to take or refrain from taking steps where certain activities have become disproportionate to those of the friendly society group or, as the case may be, the society, or varying such a direction other than at the request of the society* 18	See DEPP 2.5.18G (3)	RDC
58A(1)(b)/(3)(b)	when the FCA 18 is proposing or deciding to give a direction under section 90 providing for a transfer of the engagements of a friendly society * 18		RDC
85(4A)	when the FCA 18, on an amalgamation between friendly societies each of which has a Part 4A permission 18, notifies the successor society of the terms of its Part 4A permission 18 18 18 18		RDC or executive procedures See DEPP 2.5.12 G

OEIC Regulations reference	Description	Handbook reference	Decision maker
Regulation 16(1)/(2)	when the FCA 18 is proposing or deciding to refuse an application for an authorisation order in respect of a proposed ICVC 18	COLL 2	RDC or executive procedures See DEPP 2.5.15 G
Regulation 22(1)/(2)/(4)/(5)	when the FCA 18 is proposing to refuse approval of (or, having given a warning notice, deciding to refuse) a proposal to replace the depositary or director 23of an ICVC, or any other proposal or decision falling within regulation 21 18 23	COLL 2	Executive procedures 11
11Regulation 22A(5)(b)/(8)(a)	when the FCA 18 is proposing or deciding to refuse approval of a proposal by an ICVC which is a feeder UCITS to make an alteration to its instrument of incorporation to enable it to convert into a UCITS scheme which is not a feeder UCITS 18	COLL 11	Executive procedures
Regulation 24(1)/(2)	when the FCA 18 is proposing or deciding to revoke an authorisation order relating to an ICVC under regulation 23(1)* 18		RDC
Regulation 28(1)/(2)	when the FCA 18 is proposing or deciding to refuse an application to revoke or vary a direction in accordance with a request under regulation 25(7) or to vary the direction in accordance with the application 18		RDC
Paragraph 20 of Schedule 5	when the FCA 18 is proposing or deciding to use the disqualification powers under section 249(1)* 18		RDC

Regulated Activities Order	Description	Handbook reference	Decision maker
Article 95(2)/(3)	when the FCA 18 is proposing or deciding not to include, or to remove, an appointed representative from the Register* 18	SUP 12.4.10 G	RDC
Article 95(7)/(8)	when the FCA 18 is proposing or deciding to refuse an application to revoke a determination not to include, or to remove, an appointed representative from the Register* 18	SUP 12.4.10 G	RDC

5 70 Payment Services Regulations	Description	Handbook reference	Decision maker
Regulations 9(7) and 14	when the FCA 18 is proposing to refuse an application for authorisation as an authorised payment institution, or for registration as a small payment institution, or to9 impose a requirement, or to refuse an application to vary an authorisation9 18		Executive procedures
Regulations 9(8)(a) and 14	when the FCA 18 is deciding to refuse an application for authorisation as an authorised payment institution, or for registration of a small payment institution, or to9 impose a requirement, or to refuse an application to vary an authorisation9 18		Executive procedures where no representations are made in response to a warning notice, otherwise by the RDC
Regulations 10(2) and 10(3)(a) and 14	when the FCA 18 is proposing or deciding to either cancel an authorised payment institution's authorisation, or to cancel a small payment institution's registration, otherwise than at that institution's own request* 18
Regulation 24(2)	when the FCA 18 is proposing to refuse to register an EEA branch 18		Executive procedures
Regulation 24(3)(a)	when the FCA 18 is deciding to refuse to register an EEA branch 18		Executive procedures where no representations are made in response to a warning notice, otherwise by the RDC
Regulations 24(2) and 24(3)(a)	when the FCA 18 is proposing or deciding to cancel the registration of an EEA branch* 18		RDC
Regulation 29(9)	when the FCA 18 is proposing to refuse an application for registration as an agent 18		Executive procedures
Regulation 29(10)(a)	when the FCA 18 is deciding to refuse an application for registration as an agent 18		Executive procedures where no representations are made in response to a warning notice, otherwise by the RDC
Regulations 30(2) and 30(3)(a)	when the FCA 18 is proposing or deciding to remove an agent from the Financial Services Register 18 otherwise than at the request of a payment institution* 18 18		RDC
Regulations 86(1) and 86(3)	when the FCA 18 is proposing, or deciding, to impose a financial penalty* 18		RDC
Regulations 86(1) and 86(3)	when the FCA 18 is proposing, or deciding, to publish a statement that a payment service provider has contravened the Payment Services Regulations* 18		RDC
Regulations 89(1) and 89(3)	when the FCA 18 is proposing or deciding to exercise its powers to require restitution* 18		RDC
Regulation 121(7)	when the FCA 18 is proposing to decide that it has not received the required information or that the required conditions are not met as concerns deemed authorisation 18		Executive Procedures
Regulation 121(8)	when the FCA 18 is deciding that it has not received the required information or that the required conditions are not met as concerns deemed authorisation 18		Executive procedures where no representations are made in response to a warning notice, otherwise by the RDC 24
24Schedule 4A paragraph 5(6)	when the FCA is proposing to refuse an application to vary the period, event or condition of a prohibition, or to remove a prohibition, or to vary or remove a restriction		Executive procedures
24Schedule 4A paragraph 5(7)	when the FCA is deciding to refuse an application to vary the period, event or condition of a prohibition, or to remove a prohibition, or to vary or remove a restriction		Executive procedures, where no representations are made in response to a warning notice, otherwise by the RDC
Schedule 5 paragraph 1	when the FCA 18 is proposing or deciding to publish a statement that a relevant person has been knowingly concerned with a contravention of the Payment Services Regulations (Note 2) 18		RDC
Schedule 5 paragraph 1	when the FCA 18 is proposing or deciding to impose a financial penalty against a relevant person (Note 3) 18		RDC
Notes: (2) The Payment Services Regulations do not require third party rights and access to FCA 18 material when the FCA 18 exercises this power. However, the FCA 18 generally intends to allow for third party rights and access to material when exercising this power. (3) The Payment Services Regulations do not require third party rights and access to FCA 18 material when the FCA 18 exercises this power. However, the FCA 18 generally intends to allow for third party rights and access to material when exercising this power. 18 18 18 18 18 18

4 Regulated Covered Bonds Regulations 2008	Description	Handbook reference	Decision maker
Regulation 13(4)/(5)(a)	when the FCA 18 is proposing or deciding to refuse an application under regulation 8 18	RCB 6	Executive procedures
Regulation 20(5)/(6)(a)	when the FCA 18 is proposing or deciding not to approve a material change 18	RCB 6	Executive procedures
Regulation 25(5)/(6)(a)	when the FCA 18 is proposing or deciding not to approve a change of ownership 18	RCB 6	Executive procedures
Regulation 32(1)(a)/ (2)(a)	before the FCA 18 gives a direction under regulation 30 or when it decides to make the direction 18	RCB 6	Executive procedures
Regulation 32(1)(b)/(2)(b)	before the FCA 18removes an issuer from the register of issuers under regulation 31 or when it decides to remove the issuer from the register of issuers* 18	RCB 6	Executive procedures
Regulation 35(1)/(3)	when the FCA 18 is proposing or deciding to impose a penalty on a person under regulation 34* 18	RCB 6	RDC

9 Cross-Border Payments in Euro Regulations 2010	Description	Handbook reference	Decision maker
Regulations 7(1) and 7(3)	when the FCA 18 is proposing or deciding to impose a financial penalty* 18		RDC
Regulations 7(1) and 7(3)	when the FCA 18 is proposing or deciding to publish a statement that a payment service provider has contravened the EU Cross-Border Regulation* 18		RDC
Regulations 10(1) and 10(3)	when the FCA 18 is proposing or deciding to exercise its powers to require restitution* 18		RDC
Schedule paragraph 1	when the FCA 18 is proposing or deciding to publish a statement that a relevant person has been knowingly concerned with a contravention of the EU Cross-Border Regulation (Note 1) 18		RDC
Schedule paragraph 1	when the FCA 18 is proposing or deciding to impose a financial penalty against a relevant person (Note 1) 18		RDC
Note: (1) The Cross-Border Payments in Euro Regulations do not require third party rights and access to FCA 18 material when the FCA 18 exercises this power. However, the FCA 18 generally intends to allow for third party rights and access to material when exercising this power. 18 18

13 Electronic Money Regulations	Description	Handbook reference	Decision maker
Regulations 9(6) and 15	where the FCA 18 is proposing to refuse an application for authorisation as an authorised electronic money institution, or for registration as a small electronic money institution, or impose a requirement, or refuse to vary an authorisation or registration 18		Executive procedures
Regulations 9(7)(a) and 15	when the FCA 18 is deciding to refuse an application for authorisation as an authorised electronic money institution, or for registration as a small electronic money institution, or impose a requirement or refuse to vary an authorisation or registration 18		Executive procedures where no representations are made in response to a warning notice, otherwise by the RDC
Regulations 10(4), 10(5)(a)and 15	when the FCA 18 is proposing or deciding to either cancel an authorised electronic money institution's authorisation, or to cancel a small electronic money institution's registration otherwise than at that institution's own request * 18		RDC
Regulations 11(6), 11(9), 11(10)(b) and 15	when the FCA 18 is exercising its powers to vary an electronic money institution's authorisation or vary a small electronic money institution's registration on its own initiative 18		RDC or Executive procedures (Note 1)
Regulation 29(2)	when the FCA 18 is proposing to refuse to register an EEA branch of an authorised electronic money institution 18		Executive procedures
Regulation 29(3)(a)	when the FCA 18 is deciding to refuse to register an EEA branch of an authorised electronic money institution 18		Executive procedures where no representations are made in response to a warning notice, otherwise by the RDC
Regulation 29(2) and Regulation 29(3)(a)	when the FCA 18 is proposing or deciding to cancel the registration of an EEA branch of an authorised electronic money institution* 18		RDC
Regulation 34(9)	when the FCA 18 is proposing to refuse an application for registration as an agent 18		Executive procedures
Regulation 34(10)(a)	when the FCA 18 is deciding to refuse an application for registration as an agent 18		Executive procedures where no representations are made in response to a warning notice, otherwise by the RDC
Regulations 35(2) and 35(3)(a)	when the FCA 18 is proposing or deciding to remove an agent from the Financial Services Register 18 otherwise than at the request of the electronic money institution * 18		RDC
Regulations 53(1) and 53(3)	when the FCA 18 is proposing, or deciding, to publish a statement that an electronic money issuer has contravened the Electronic Money Regulations * 18		RDC
Regulations 53 (1) and 53 (3)	when the FCA 18 is proposing or deciding, to impose a financial penalty * 18		RDC
Regulations 53(1) and 53(3)	When the FCA 18 is proposing or deciding to suspend the authorisation of an authorised electronic money institution or registration of a small electronic money institution, or to limit or otherwise restrict the carrying on of electronic money issuance or payment services business by an electronic money institution * 18		RDC
Regulations 56(1) and 56(3)	when the FCA 18 is proposing or deciding to exercise its powers to require restitution * 18		RDC
Regulation 74(7)	when the FCA 18 is proposing to decide not to include a person on the register 18		Executive procedures
Regulation 74(8) (a)	when the FCA 18 is deciding not to include a person on the register 18		Executive procedures where no representations are made in response to a warning notice, otherwise by the RDC 24
24Schedule 2A paragraph 5(6)	when the FCA is proposing to refuse an application to vary the period, event or condition of a prohibition, or to remove a prohibition, or to vary or remove a restriction		Executive procedures
24Schedule 2A paragraph 5(7)	when the FCA is deciding to refuse an application to vary the period, event or condition of a prohibition, or to remove a prohibition, or to vary or remove a restriction		Executive procedures, where no representations are made in response to a warning notice, otherwise by the RDC
Schedule 3, paragraph 1	when the FCA 18 is proposing or deciding to publish a statement that a relevant person has been knowingly concerned with a contravention of the Electronic Money Regulations (Note 2) 18		RDC
Schedule 3, paragraph 1	when the FCA 18 is proposing or deciding to impose a financial penalty against a relevant person (Note 2) 18		RDC
Notes: (1) The RDC will take the decision to give the notice exercising the FCA's 18 own-initiative power if the action involves: (a) removing a type of activity from an authorisation or registration; or (b) refusing an application to include a type of activity in an authorisation or registration; or (c) restricting a person from taking on new business, dealing with a particular category of customer or refusing an application to vary or cancel such a restriction; or (d) imposing or varying a capital requirement, or refusing an application to vary or cancel such a requirement. (2) The Electronic Money Regulations do not require third party rights and access to FCA 18 material when the FCA 18 exercises this power. However, the FCA 18 generally intends to allow for third party rights and access to material when exercising this power. 18 18 18 18

16 Recognised Auction Platforms Regulations 2011	Description	Handbook reference	Decision maker
Regulation 5A	where the FCA 18 is proposing or deciding to publish a statement censuring an RAP, or to impose a financial penalty on an RAP 18	REC 2A.4	RDC

20 Alternative Investment Fund Managers Regulations 2013	Description	Handbook reference	Decision maker
Regulation 13(1)	where the FCA proposes to refuse an application for entry on the register of small registered UK AIFMs		Executive procedures
Regulation 13(2)(a)	where the FCA decides to refuse an application for entry on the register of small registered UK AIFMs		Executive procedures where no representations are made in response to a warning notice otherwise by the RDC
Regulation 18(1)	where the FCA proposes to revoke the registration of a small registered UK AIFM including, where applicable, its registration as a EuSEF manager or EuVECA manager		RDC
Regulation 18(2)(a)	where the FCA decides to revoke the registration of a small registered UK AIFM including where applicable its registration as a EuSEF manager or EuVECA manager		RDC
31Regulation 23B(1)	where the FCA proposes to refuse an application made by a UK AIF for authorisation as a UK ELTIF		Executive procedures
31Regulation 23B(2)(a)	where the FCA decides to refuse an application made by a UK AIF for authorisation as a UK ELTIF		Executive procedures where no representations are made in response to a warning notice otherwise by the RDC
31Regulation 23C(1)	where the FCA proposes to revoke the authorisation of a UK ELTIF		RDC
31Regulation 23C(2)(a)	where the FCA decides to revoke the authorisation of a UK ELTIF		RDC
Regulation 25(2)	where the FCA proposes to disqualify an external valuer		RDC
Regulation 25(3)(a)	where the FCA decides to disqualify an external valuer		RDC
Regulation 27(2)	where the FCA proposes to revoke approval given to a full-scope UK AIFM for the delegation of functions of portfolio or risk management		Executive procedures
Regulation 27(3)(a)	where the FCA decides to revoke approval given to a full-scope UK AIFM for the delegation of functions of portfolio management or risk management		Executive procedures
Regulation 56	where the FCA is proposing to revoke a full-scope UK AIFM's approval to market an AIF under regulation 54		RDC
Regulation 56	where the FCA is deciding to revoke a full-scope UK AIFM's approval to market an AIF under regulation 54		RDC
Regulation 62(2)	where the FCA proposes to revoke an AIFM's entitlement to market an AIF		RDC
Regulation 62(3)	where the FCA decides to revoke the entitlement of an AIFM to market an AIF		RDC
Regulation 71(1)(e )	where the FCA is proposing or deciding to publish a statement that an unauthorised AIFM has contravened the regulations or directly applicable EuSEF regulation or EuVECA regulation		RDC
Regulation 71(1)(f)	where the FCA is proposing or deciding to impose a financial penalty on an unauthorised AIFM that has contravened the regulations or directly applicable EuSEF regulation or EuVECA regulation		RDC

21 Legal Aid, Sentencing and Punishment of Offenders Act 2012 (Referral Fees) Regulations 2013	Description	Handbook reference	Decision maker
Regulation 24(1) and 24(6)	when the FCA is proposing or deciding to exercise its powers to require restitution*		RDC
Regulation 25(1) and 26(1)	when the FCA is proposing or deciding to publish a statement (under regulations 14 or 15) or impose a financial penalty (under regulation 16) or impose a restriction on permission (under regulation 17) or suspend or restrict an approval (under regulation 18)*		RDC

22 The Financial Services Act 2012 (Consumer Credit) Order 2013	Description	Handbook reference	Decision maker
Article 3(3)	when the FCA is proposing or deciding to take action against an approved person for being knowingly concerned in a contravention of a CCA Requirement by an authorised person, by exercising the disciplinary powers conferred by section 66*		RDC
Article 3(7)	when the FCA is proposing or deciding to publish a statement (under section 205) or impose a financial penalty (under section 206) or suspend a permission or impose a restriction in relation to the carrying on of a regulated activity (under section 206A) for the contravention of a CCA Requirement. This applies in respect of an authorised person, or an unauthorised person to whom section 404C applies*		RDC
Article 3(10)	when the FCA is proposing or deciding to exercise the power under section 384(5) to require a person to pay restitution in relation to the contravention of a CCA Requirement*		RDC

25 The Immigration Act 2014 (Bank Account) Regulations 2014	Description	Handbook reference	Decision maker
Regulation 24 and 25	where the FCA is proposing or deciding to publish a statement (under regulations 15 or 16) or impose a financial penalty (under regulation 17) or impose a restriction on permission (under regulation 18) or suspend or restrict an approval (under regulation 19)*		RDC

26 The Mortgage Credit Directive Order 2015	Description	Handbook reference	Decision maker
Article 11(1)	when the FCA is proposing to refuse an application for entry on the register or variation of an existing entry on the register		Executive procedures
Article 11(2)	when the FCA is deciding to refuse an application for entry on the register or variation of an existing entry on the register		Executive procedures where no representations are made in response to a warning notice, otherwise by the RDC
Articles 14(1), 14(2), 16(3) and 16(4)	when the FCA is proposing or deciding to revoke or suspend the registration of a registered CBTL firm other than at the firm’s request or with the firm’s consent*		RDC
Article 23(4)	when the FCA is proposing or deciding to publish a statement (under section 205 of the Act) or impose a financial penalty (under section 206 of the Act)*		RDC

28 The Small and Medium Sized Business (Credit Information) Regulations 2015	Description	Handbook reference	Decision maker
Regulations 39 and 40	when the FCA is proposing or deciding to publish a statement (under regulation 28), or impose a financial penalty (under regulation 29), or impose a limitation or restriction (under regulation 30), or exercise the power to require restitution (under regulation 32(2)		RDC

30 The Payment Accounts Regulations 2015	Description	Handbook reference	Decision maker
Regulation 34 and Regulation 35(4)(a)	when the FCA is proposing or deciding to publish a statement or impose a financial penalty*		RDC

32 The Small and Medium Sized Business (Finance Platforms) Regulations 2015	Description	Handbook reference	Decision maker
Regulations 36 and 37	when the FCA is proposing or deciding to publish a statement (under regulation 25), or impose a financial penalty (under regulation 26), or impose a limitation or restriction (under regulation 27), or exercise the power to require restitution (under regulation 29(2)).		RDC

DEPP 2 Annex 2 Supervisory notices

18/09/2016

Section of the Act	Description	Handbook reference	Decision maker
55Y(4) 55Y(7) 55Y(8)(b)3 3	when the FCA 3 is exercising its own-initiative variation power 3 to vary a firm's Part 4A permission 3 3 3 3	SUP 7 1	RDC or executive procedures See DEPP 2.5.7 G
1063ZC(4) 63ZC(8) 63ZC(9)(b)	when the FCA is exercising its power to vary, on its own initiative, an approval granted to an SMF manager		RDC or executive procedures See DEPP 2.5.8AG and DEPP 2.5.8BG
355Y(4) 55Y(7) 55Y(8)(b)	when the FCA is exercising its own-initiative requirement power		RDC or executive procedures See DEPP 2.5.7 G
78(2)/(5)	when the FCA 3 is proposing to discontinue or discontinues the listing of a security 3	LR 5	RDC or executive procedures See DEPP 2.5.9G (4) and DEPP 2.5.10 G
78(2)/(5)	when the FCA 3 is proposing to suspend or suspends the listing of a security 3	LR 5	Executive procedures 2
278A(2)/(8)(b)	when the FCA 3 discontinues or suspends the listing of a security on the application of the issuer of the security 3	LR 5	Executive procedures
87O(2)/(5)	when the FCA 3 is proposing or deciding to exercise or deciding to maintain, vary or revoke any of the powers in sections 87K or 87L in respect of an infringement of any applicable provision. 3	PR 5	Executive procedures
388F(2)/(5)/(6)(b)	when the FCA is proposing or deciding to take action to suspend, limit or restrict a sponsor's approval under section 88E		Executive procedures
389V(2) 89V(5) 89 V(6)(b)	when the FCA is proposing or deciding to take action to suspend, limit or restrict a primary information provider's approval under section 89U		Executive procedures
122I11	when the FCA 3 is proposing to suspend or suspends trading in a financial instrument 3	DTR	Executive procedures 2
137S(5) 137S(8)(a)	when the FCA gives a direction under section 137S		Executive procedures
2191B(1)	when the FCA 3 gives a restriction notice under section 191B 3		Executive procedures
197(3)/(6)/(7)(b)	when the FCA 3 is exercising its power of intervention in respect of an incoming firm 3	SUP 14	RDC or executive procedures See DEPP 2.5.7 G and 2.5.7A G2
259(3)/(8)/ (9) (b)	when the FCA 3 is exercising its power to give or, on its own initiative, to vary a direction to the manager and trustee of an AUT 3	COLL	RDC 4
4261Z1	when the FCA gives a direction under section 261X or section 261Z	COLL	RDC
268(3)/ (7)(a) or (9)(a) (as a result of (8)(b)/(13))	when the FCA 3 is proposing or deciding to give or, on its own initiative, to vary a direction to the operator of a recognised scheme 3	COLL	RDC
282 (3)/(6)/ (7)(b)	when the FCA 3 is exercising its power to give a direction to an operator, trustee or depositary of a recognised scheme 3	COLL
2301J(1)	when the FCA 3 gives a restriction notice under section 301J 3		Executive procedures
321(2)/(5)	when the FCA 3 is exercising its power to impose a requirement on a former underwriting member of Lloyd's 3		RDC

OEIC Regulations reference	Description	Handbook reference	Decision maker
Regulation 27	when the FCA 3 is exercising its power to give or, on its own initiative, to vary a direction to an ICVC and its depositary 3	COLL	RDC

3 Payment Services Regulations	Description	Handbook reference	Decision maker
11(6) 11(9) 11(10)(b) 14	When the FCA is exercising its powers to vary a person's authorisation on its own initiative		RDC or Executive procedures See also DEPP 3.4 (Note 1)7
7Schedule 4A, paragraphs 1(1), 1(2), 2(2)(a), 2(2)(b), 2(3), 4(6) and 4(7)	when exercising its power to impose a prohibition or restriction, or to vary a restriction		RDC or executive procedures (Note 2) See also DEPP 3.4
Notes: (1) The RDC will take the decision to give a notice exercising the FCA's own initiative power if the action involves: (a) removing a type of activity from an authorisation or registration; or (b) refusing an application to include a type of activity in an authorisation or registration; or (c) restricting a person from taking on new business, dealing with a particular category of customer or refusing an application to vary or cancel such a restriction; or d) imposing or varying a capital requirement, or refusing an application to vary or cancel such a requirement. For all other types of action the decision to give a notice will be taken by FCA staff under executive procedures. (2) The RDC will take the decision to give a notice imposing a prohibition or imposing or varying a restriction under Schedule 4A paragraphs 1(1), 1(2), 2(2)(a), 2(2)(b), 2(3), 4(6) and 4(7). However, FCA staff under executive procedures will be the decision maker whenever a firm agrees not to contest the imposition of a prohibition or imposition or variation of a restriction.7

5 Alternative Investment Fund Managers Regulations 2013	Description	Handbook reference	Decision maker
Regulation 22(4)	where the FCA is exercising its power on its own initiative to give or vary a direction under regulation 22(1) to a small registered UK AIFM, a EuSEF manager or EuVECA manager		RDC or executive procedures See DEPP 2.5.7 G to DEPP 2.5.8 G
Regulation 22(4)	where the FCA is exercising its power on its own initiative to give or vary a direction under regulation 22(2) to a small registered UK AIFM with its registered office in an EEA State other than the UK in accordance with article 19.3 of the EuSEF regulation or article 18.3 of the EuVECA regulation		RDC or executive procedures See DEPP 2.5.7 G to DEPP 2.5.8 G

5 Alternative Investment Fund Managers Regulations 2013

Description

Handbook reference

Decision maker

Regulation 22(4)

where the FCA is exercising its power on its own initiative to give or vary a direction under regulation 22(1) to a small registered UK AIFM, a EuSEF manager or EuVECA manager

RDC or executive procedures

See DEPP 2.5.7 G to DEPP 2.5.8 G