DEPP 2 Annex 1 Warning notices and decision notices under the Act and certain other enactments
Note: Third party rights and access to FSA 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 |
52(6)(a) |
when the FSA is proposing to grant an application for a Part IV permission with a limitation or a requirement which was not applied for, or with a narrower description of regulated activity than that applied for |
||
52(6)(b) |
when the FSA is proposing to grant an application to vary a firm's Part IV permission but, other than as part of the application, to restrict the Part IV permission (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) |
||
52(7) |
when the FSA is proposing to refuse an application for a Part IV permission |
||
52(7) |
when the FSA is proposing to refuse an application to vary a firm's Part IV permission |
||
52(7) |
when the FSA is proposing to refuse an application to cancel a firm's Part IV permission |
||
52(9)(a) |
when the FSA is deciding to grant an application for a Part IV permission with a limitation or a requirement which was not applied for, or with a narrower description of regulated activity than that applied for |
See DEPP 2.5.6 G |
|
52(9)(b) |
when the FSA is deciding to grant an application to vary a firm's Part IV permission but, other than as part of the application, to restrict the Part IV permission (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) |
See DEPP 2.5.6 G |
|
52(9)(c) |
when the FSA is deciding to refuse an application for a Part IV permission |
See DEPP 2.5.5 G |
|
52(9)(c) |
when the FSA is deciding to refuse an application to vary a firm's Part IV permission |
See DEPP 2.5.6 G |
|
52(9)(c) |
when the FSA is deciding to refuse an application to cancel a firm's Part IV permission |
See DEPP 2.5.5 G |
|
54(1)/(2) |
when the FSA is proposing or deciding to cancel a firm's Part IV permission otherwise than at its request * |
||
57(1)/(3) |
when the FSA is proposing or deciding to make a prohibition order against an individual* |
||
58(3)/(4) |
when the FSA is proposing or deciding to refuse an application for the variation or revocation of a prohibition order |
||
62(2) |
when the FSA is proposing to refuse an application for approval of a person performing a controlled function |
||
62(3) |
when the FSA is deciding to refuse an application for approval of a person performing a controlled function |
See DEPP 2.5.5 G |
|
63(3)/(4) |
when the FSA is proposing or deciding to withdraw approval from an approved person * |
||
863B(1)/(3) |
when the FSA is proposing or deciding to impose a penalty on a person under section 63A* |
||
67(1)/(4) |
when the FSA is proposing or deciding to take action against an approved person by exercising the disciplinary powers conferred by section 66* |
||
76(4)/(5) |
when the FSA is proposing or deciding to refuse an application for listing of securities |
||
78(10)/(11)(a) |
when the FSA has suspended, on its own initiative,3 the listing of securities3and is proposing or deciding to refuse an application by an issuer for cancellation of the suspension 3 |
||
378A(4)/(5) |
When the FSA 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 |
||
378A(7)/(8)(a) |
When the FSA 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 |
||
87M(2)/(3) |
when the FSA 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 |
||
788(4)/(6) |
when the FSA is proposing or deciding to (1) refuse a person's application for approval as a sponsor; or (2) on its own initiative, cancel a person's approval as a sponsor10 10 |
||
89(2)/(3) |
when the FSA is proposing or deciding to publish a statement censuring a sponsor*4 |
||
989K(2)/(3) |
when the FSA 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 |
||
92(1)/(4) |
when the FSA is proposing or deciding to take action against any person under section 91 for breach of Part 6 rules*4 |
||
126(1)/ 127(1) |
when the FSA is proposing or deciding to impose a sanction for market abuse * |
||
8131H(1)/ (4) |
when the FSA is proposing or deciding to take action against a person under section 131G* |
||
189(4)/(7)6 6 |
when the FSA is proposing or deciding to object to a change in control following receipt of a section 178 notice6 6 |
||
189(4)/(7)6 6 |
when the FSA is proposing or deciding to approve a change in control with conditions, following receipt of a section 178 notice6 6 |
||
187(1)/(3) and 188(1)191A(4)/(6)6 |
when the FSA is proposing or deciding to object to a person who has acquired or increased control without giving a section 178 notice6 6 |
||
6191A(4)/(6) |
when the FSA is proposing or deciding to object to a person's control on the basis of the matters in section 186 |
||
6191A(4)/(6) |
when the FSA 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 |
||
200(4)/(5) |
when the FSA is proposing or deciding to refuse an application for variation or rescission of a requirement imposed on an EEA incoming firm |
See DEPP 2.5.6 G |
|
207(1)/ 208(1) |
when the FSA 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 12888 |
||
245(1)/(2) |
when the FSA is proposing or deciding to refuse an application for an authorisation order declaring a unit trust scheme to be an AUT |
See DEPP 2.5.15 G |
|
252(1)/(4) |
when the FSA is proposing or deciding to refuse approval of a proposal to replace the trustee or manager of an AUT |
||
11252A(4)(b)/(6)(a) |
when the FSA 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 |
||
255(1)/(2) |
when the FSA is proposing or deciding to make an order under section 254 revoking the authorisation order of an AUT * |
None, but see Chapter 14 of the Regulatory Guide EG. |
|
9256(4)/(5) |
when the FSA is proposing or deciding to refuse a request for the revocation of the authorisation order of an AUT |
||
260(1)/(2) |
when the FSA, 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 |
||
264(2)/ 265(4) |
[deleted]11 11 |
11 | |
269(1)/(2) |
when the FSA, 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 |
||
271(1)/(3) |
when the FSA is proposing or deciding to refuse approval of a collective investment scheme as a recognised scheme under section 270 |
||
276(1)/(2) |
when the FSA is proposing or deciding to refuse an application for an order declaring a collective investment scheme to be a recognised scheme under section 272 |
||
280(1)/(2) |
when the FSA is proposing or deciding to direct that a section 270 recognised scheme is to cease to be recognised or to revoke a section 272 order in respect of a recognised scheme * |
||
| 6 | when the FSA is proposing or deciding12 to object to a proposed acquisition 6of a UK RIE following receipt of a section 301A 6notice . 66 |
||
| 6 | when the FSA 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 6 |
||
| 6 | when the FSA 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 6 |
||
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 FSA 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 |
||
9313BD(5)/ 313BE(4) |
when, upon the application of an issuer, the FSA 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 |
||
321(8)/(9) |
when the FSA is proposing or deciding to refuse an application for variation or revocation of a direction or a requirement imposed on a former underwriting member of Lloyd's* |
||
331(1)/(3) |
when the FSA is proposing or deciding to make an order disapplying the exemption from the general prohibition under section 327* |
||
331(7)/(8) |
when the FSA is proposing or deciding to refuse an application for the variation or revocation of an order made under section 329* |
||
345(2)/(3) |
when the FSA 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 or ICVC * |
||
385(1)/ 386(1) |
when the FSA is proposing or deciding to exercise the power under section 384(5) to require a person to pay restitution* |
||
1412B(2)/(3) |
when the FSA is proposing/deciding to refuse to approve a relevant system as defined in section 412A(9) of the Act |
||
1412B(4)/(5) |
when the FSA is proposing/deciding to suspend or withdraw its approval in relation to a relevant system as defined in section 412A(9) of the Act* |
||
1412B(8)/(9) |
when the FSA 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* |
||
11Paragraph 15A(4) of Schedule 3 |
when the FSA 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 |
See DEPP 2.5.16 G |
|
Paragraph 15A(5) of Schedule 3 |
[deleted]11 11 |
11 | |
11Paragraph 15B(3)(a) of Schedule 3 |
when the FSA 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 |
||
Paragraph 19(8)/ (12) of Schedule 3 |
when the FSA is proposing or deciding to refuse to give a consent notice to a UK firm wishing to establish a branch under an EEA right |
Section of the Building Societies Act 1986 |
Description |
Handbook reference |
Decision maker |
36A(5)/(5A) |
when the FSA is proposing or deciding to issue a prohibition order under section 36A prohibiting the continuance or carrying on of an activity and requiring the disposal of assets acquired or otherwise in a building society's possession by virtue of the activity, where the society has failed to carry into effect a restructuring plan which it has been directed to carry out by the FSA under section 36(8) |
See DEPP 2.5.18G (1) |
|
46A(1)(a)/(3)(a) |
when the FSA is proposing or deciding to give a direction under section 36(3), (5), (6), (7) or (10) requiring a building society to submit for its approval a restructuring plan or to submit to the society's members the requisite transfer resolutions for a transfer of the society's business to a company or (if such a direction is given) imposing limitations on the issue of shares, acceptance of deposits or making of loans or requiring the society to take certain steps or refrain from certain action or requiring the removal of a director or other officer*4 |
||
46A(1)(b)/(3)(b) |
when the FSA is proposing or deciding to give a direction under section 42B(1) (other than a direction varying a previous direction with the agreement of the building society concerned) that a building society transfers all its engagements to one or more other building societies under section 94 or that it transfers its business to an existing company under section 97* |
See DEPP 2.5.12 G |
|
93(6) |
when the FSA, on an amalgamation between building societies, each of which has a Part IV permission to accept deposits , notifies the successor society of the terms of its Part IV permission |
See DEPP 2.5.18G (2) |
see DEPP 2.5.12 G |
Section of the Credit Unions Act 1979 |
Description |
Handbook reference |
Decision maker |
20 |
where the FSA is proposing to cancel or suspend the registration of a credit union or to petition for the winding up of a credit union |
14 |
15Articles of the Credit Unions (Northern Ireland) Order 1985 |
Description |
Handbook reference |
Decision maker |
60(1), 61(1) and 63 |
where the FSA 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 |
Section of the Friendly Societies Act 1992 |
Description |
Handbook reference |
Decision maker |
58A(1)(a)/(3)(a) |
when the FSA 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* |
See DEPP 2.5.18G (3) |
|
58A(1)(b)/(3)(b) |
when the FSA is proposing or deciding to give a direction under section 90 providing for a transfer of the engagements of a friendly society * |
||
85(4A) |
when the FSA, on an amalgamation between friendly societies each of which has a Part IV permission, notifies the successor society of the terms of its Part IV permission |
See DEPP 2.5.12 G |
OEIC Regulations reference |
Description |
Handbook reference |
Decision maker |
Regulation 16(1)/(2) |
when the FSA is proposing or deciding to refuse an application for an authorisation order in respect of a proposed ICVC |
See DEPP 2.5.15 G |
|
Regulation 22(1)/(2)/(4)/(5) |
when the FSA is proposing to refuse approval of (or, having given a warning notice, deciding to refuse) a proposal to replace the depositary or directorof an ICVC, or any other proposal or decision falling within regulation 21 |
||
11Regulation 22A(5)(b)/(8)(a) |
when the FSA 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 |
||
Regulation 24(1)/(2) |
when the FSA is proposing or deciding to revoke an authorisation order relating to an ICVC under regulation 23(1)* |
||
Regulation 28(1)/(2) |
when the FSA 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 |
||
Paragraph 20 of Schedule 5 |
when the FSA is proposing or deciding to use the disqualification powers under section 249(1)* |
Description |
Handbook reference |
Decision maker |
|
Article 95(2)/(3) |
when the FSA is proposing or deciding not to include, or to remove, an appointed representative from the Register* |
||
Article 95(7)/(8) |
when the FSA is proposing or deciding to refuse an application to revoke a determination not to include, or to remove, an appointed representative from the Register* |
Description |
Handbook reference |
Decision maker |
|
Regulations 9(7) and 14 |
when the FSA 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 |
||
Regulations 9(8)(a) and 14 |
when the FSA 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 |
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 FSA 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* |
||
Regulations 11(6), 11(9), 11(10)(b) and 14 |
When the FSA is exercising its powers to vary a person's authorisation on its own initiative |
See also DEPP 3.4 (Note 1) |
|
Regulation 24(2) |
when the FSA is proposing to refuse to register an EEA branch |
||
Regulation 24(3)(a) |
when the FSA is deciding to refuse to register an EEA branch |
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 FSA is proposing or deciding to cancel the registration of an EEA branch* |
||
Regulation 29(9) |
when the FSA is proposing to refuse an application for registration as an agent |
||
Regulation 29(10)(a) |
when the FSA is deciding to refuse an application for registration as an agent |
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 FSA is proposing or deciding to remove an agent from the FSA Register otherwise than at the request of a payment institution* |
||
Regulations 86(1) and 86(3) |
when the FSA is proposing, or deciding, to impose a financial penalty* |
||
Regulations 86(1) and 86(3) |
when the FSA is proposing, or deciding, to publish a statement that a payment service provider has contravened the Payment Services Regulations* |
||
Regulations 89(1) and 89(3) |
when the FSA is proposing or deciding to exercise its powers to require restitution* |
||
Regulation 121(7) |
when the FSA is proposing to decide that it has not received the required information or that the required conditions are not met as concerns deemed authorisation |
||
Regulation 121(8) |
when the FSA is deciding that it has not received the required information or that the required conditions are not met as concerns deemed authorisation |
Executive procedures where no representations are made in response to a warning notice, otherwise by the RDC |
|
Schedule 5 paragraph 1 |
when the FSA 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) |
||
Schedule 5 paragraph 1 |
when the FSA is proposing or deciding to impose a financial penalty against a relevant person (Note 3) |
||
Notes: (1) The RDC will take the decision to give a notice exercising the FSA'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 FSA staff under executive procedures. (2) The Payment Services Regulations do not require third party rights and access to FSA material when the FSA exercises this power. However, the FSA 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 FSA material when the FSA exercises this power. However, the FSA generally intends to allow for third party rights and access to material when exercising this power. |
|||
Description |
Handbook reference |
Decision maker |
|
Regulation 13(4)/(5)(a) |
when the FSA is proposing or deciding to refuse an application under regulation 8 |
||
Regulation 20(5)/(6)(a) |
when the FSA is proposing or deciding not to approve a material change |
||
Regulation 25(5)/(6)(a) |
when the FSA is proposing or deciding not to approve a change of ownership |
||
Regulation 32(1)(a)/ (2)(a) |
before the FSA gives a direction under regulation 30 or when it decides to make the direction |
||
Regulation 32(1)(b)/(2)(b) |
before the FSA removes an issuer from the register of issuers under regulation 31 or when it decides to remove the issuer from the register of issuers* |
||
Regulation 35(1)/(3) |
when the FSA is proposing or deciding to impose a penalty on a person under regulation 34* |
9Cross-Border Payments in Euro Regulations 2010 |
Description |
Handbook reference |
Decision maker |
Regulations 7(1) and 7(3) |
when the FSA is proposing or deciding to impose a financial penalty* |
||
Regulations 7(1) and 7(3) |
when the FSA is proposing or deciding to publish a statement that a payment service provider has contravened the EU Cross-Border Regulation* |
||
Regulations 10(1) and 10(3) |
when the FSA is proposing or deciding to exercise its powers to require restitution* |
||
Schedule paragraph 1 |
when the FSA 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) |
||
Schedule paragraph 1 |
when the FSA is proposing or deciding to impose a financial penalty against a relevant person (Note 1) |
||
Note: (1) The Cross-Border Payments in Euro Regulations do not require third party rights and access to FSA material when the FSA exercises this power. However, the FSA generally intends to allow for third party rights and access to material when exercising this power. |
|||
Description |
Handbook reference |
Decision maker |
|
Regulations 9(6) and 15 |
where the FSA 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 |
||
Regulations 9(7)(a) and 15 |
when the FSA 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 |
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 FSA 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 * |
||
Regulations 11(6), 11(9), 11(10)(b) and 15 |
when the FSA 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 |
RDC or Executive procedures (Note 1) |
|
Regulation 29(2) |
when the FSA is proposing to refuse to register an EEA branch of an authorised electronic money institution |
||
Regulation 29(3)(a) |
when the FSA is deciding to refuse to register an EEA branch of an authorised electronic money institution |
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 FSA is proposing or deciding to cancel the registration of an EEA branch of an authorised electronic money institution* |
||
Regulation 34(9) |
when the FSA is proposing to refuse an application for registration as an agent |
||
Regulation 34(10)(a) |
when the FSA is deciding to refuse an application for registration as an agent |
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 FSA is proposing or deciding to remove an agent from the FSA Register otherwise than at the request of the electronic money institution * |
||
Regulations 53(1) and 53(3) |
when the FSA is proposing, or deciding, to publish a statement that an electronic money issuer has contravened the Electronic Money Regulations * |
||
Regulations 53 (1) and 53 (3) |
when the FSA is proposing or deciding, to impose a financial penalty * |
||
Regulations 53(1) and 53(3) |
When the FSA 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 * |
||
Regulations 56(1) and 56(3) |
when the FSA is proposing or deciding to exercise its powers to require restitution * |
||
Regulation 74(7) |
when the FSA is proposing to decide not to include a person on the register |
||
Regulation 74(8) (a) |
when the FSA is deciding not to include a person on the register |
Executive procedures where no representations are made in response to a warning notice, otherwise by the RDC |
|
Schedule 3, paragraph 1 |
when the FSA 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) |
||
Schedule 3, paragraph 1 |
when the FSA is proposing or deciding to impose a financial penalty against a relevant person (Note 2) |
||
Notes: (1) The RDC will take the decision to give the notice exercising the FSA'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. (2) The Electronic Money Regulations do not require third party rights and access to FSA material when the FSA exercises this power. However, the FSA generally intends to allow for third party rights and access to material when exercising this power. |
|||
Description |
Handbook reference |
Decision maker |
|
Regulation 5A |
where the FSA is proposing or deciding to publish a statement censuring an RAP, or to impose a financial penalty on an RAP |