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

55X(1)(a) and(b)18

when the FCA18 is proposing to grant an application for a Part 4A permission18 with a limitation or a requirement which was not applied for, or with a narrower description of regulated activity than that applied for

SUP 6

Executive procedures

55X(1)(c) and (d)18

when the FCA18 is proposing to grant an application to vary a firm's Part 4A permission18 but, other than as part of the application, to restrict the Part 4A permission18 (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)

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

when the FCA18 is proposing to refuse an application for a Part 4A permission18

Executive procedures

55X(2)18

when the FCA18 is proposing to refuse an application to vary a firm's Part 4A permission18

SUP 6

Executive procedures

55X(2)18

when the FCA18 is proposing to refuse an application to cancel a firm's Part 4A permission18

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

when the FCA18 is deciding to grant an application for a Part 4A permission18 with a limitation or a requirement which was not applied for, or with a narrower description of regulated activity than that applied for

RDC or executive procedures

See DEPP 2.5.6 G

55X(4)(c)

55X(4)(d)18

when the FCA18 is deciding to grant an application to vary a firm's Part 4A permission18but, other than as part of the application, to restrict the Part 4A permission18 (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)

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

when the FCA18 is deciding to refuse an application for a Part 4A permission18

RDC or executive procedures

See DEPP 2.5.5 G

55X(4)(f)18

when the FCA18 is deciding to refuse an application to vary a firm's Part 4A permission18

SUP 6

RDC or executive procedures

See DEPP 2.5.6 G

55X(4)(f)18

when the FCA18 is deciding to refuse an application to cancel a firm's Part 4A permission18

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

when the FCA18 is proposing or deciding to cancel a firm's Part 4A permission18 otherwise than at its request *

RDC

57(1)/(3)

when the FCA18 is proposing or deciding to make a prohibition order against an individual*

RDC

58(3)/(4)

when the FCA18 is proposing or deciding to refuse an application for the variation or revocation of a prohibition order

RDC

62(2)

when the FCA18 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

SUP 10A and SUP 10C27

Executive procedures

62(3)

when the FCA18 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

SUP 10A and SUP 10C27

RDC or executive procedures

See DEPP 2.5.5 G

63(3)/(4)

when the FCA18 is proposing or deciding to withdraw approval from an approved person *

RDC

863B(1)/(3)

when the FCA18 is proposing or deciding to impose a penalty on a person under section 63A*

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 FCA18 is proposing or deciding to take action against an individual27 by exercising the disciplinary powers conferred by section 66*

RDC

76(4)/(5)

when the FCA18 is proposing or deciding to refuse an application for listing of securities

LR 2 and LR 3

Executive procedures

78(10)/(11)(a)

when the FCA18 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

LR 5

Executive procedures

378A(4)/(5)

When the FCA18 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

LR 5

Executive procedures

378A(7)/(8)(a)

When the FCA18 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

LR 5

Executive procedures

87M(2)/(3)

when the FCA18 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

RDC347

788(4)(a)

88(6)(a)

88(8)(a)18

when the FCA18 is proposing or deciding to refuse a person's application for approval as a sponsor

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 FCA18 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

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 FCA18 is proposing or deciding to take action against any person under section 91 for breach of Part 6 rules*4

RDC

126(1)/ 127(1)

when the FCA18 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 Act29*

RDC

8131H(1)/ (4)

when the FCA18 is proposing or deciding to take action against a person under section 131G*

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

when the FCA18 is proposing or deciding to object to a change in control following receipt of a section 178 notice6

SUP 11

Executive procedures

189(4)/(7)6

when the FCA18 is proposing or deciding to approve a change in control with conditions, following receipt of a section 178 notice6

SUP 11

Executive procedures

187(1)/(3) and 188(1)191A(4)/(6)6

when the FCA18 is proposing or deciding to object to a person who has acquired or increased control without giving a section 178 notice6

SUP 11

Executive procedures6

6191A(4)/(6)

when the FCA18 is proposing or deciding to object to a person's control on the basis of the matters in section 186

SUP 11

Executive procedures

6191A(4)/(6)

when the FCA18 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

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 FCA18 is proposing or deciding to refuse an application for variation or rescission of a requirement imposed on an EEA incoming firm

RDC or executive procedures

See DEPP 2.5.6 G

207(1)/ 208(1)

when the FCA18 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

RDC

245(1)/(2)

when the FCA18 is proposing or deciding to refuse an application for an authorisation order declaring a unit trust scheme to be an AUT

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 FCA18 is proposing or deciding to refuse approval of a proposal to replace the trustee or manager of an AUT

COLL 2

Executive procedures

11252A(4)(b)/(6)(a)

when the FCA18 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

COLL 11

Executive procedures

255(1)/(2)

when the FCA18 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.

RDC9

9256(4)/(5)

when the FCA18 is proposing or deciding to refuse a request for the revocation of the authorisation order of an AUT

RDC

260(1)/(2)

when the FCA18, 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

RDC19

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

269(1)/(2)

when the FCA18, 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

RDC20

276(1)/(2)

when the FCA18 is proposing or deciding to refuse an application for an order declaring a collective investment scheme to be a recognised scheme under section 272

COLL 9

Executive procedures

280(1)/(2)

when the FCA18 is proposing or deciding to revoke a section 272 order in respect of a recognised scheme *

RDC

1301G(3)(b)/(5)6

when the FCA18 is proposing or deciding12 to object to a proposed acquisition 6of a UK RIE following receipt of a section 301A 6notice .

REC 4.2C

Executive procedures12

2301I(3)/(4)6

when the FCA18 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

REC 4.2C

Executive procedures

2301I(3)/(4)6

when the FCA18 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

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

2313B(10)/(11)

[deleted]9

9313BB(5)/ 313BC(5)

when, upon the application of an institution, the FCA18 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

REC 4.2D

Executive procedures

9313BD(5)/ 313BE(4)

when, upon the application of an issuer, the FCA18 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

REC 4.2D

Executive procedures

331(1)/(3)

when the FCA18 is proposing or deciding to make an order disapplying the exemption from the general prohibition under section 327*

RDC

331(7)/(8)

when the FCA18 is proposing or deciding to refuse an application for the variation or revocation of an order made under section 329*

RDC

345B(1)

345B(4)18

when the FCA18 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, ACS19 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 FCA18 is proposing or deciding to exercise the power under section 384(5) to require a person to pay restitution*

RDC17

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 FCA18 is proposing/deciding to refuse to approve a relevant system as defined in section 412A(9) of the Act

Executive procedures

1412B(4)/(5)

when the FCA18 is proposing/deciding to suspend or withdraw its approval in relation to a relevant system as defined in section 412A(9) of the Act*

Executive procedures

1412B(8)/(9)

when the FCA18 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*

Executive procedures11

11Paragraph 15A(4) of Schedule 3

when the FCA18 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

SUP 13A

See DEPP 2.5.16 G

Executive procedures

Paragraph 15A(5) of Schedule 3

[deleted]11

11Paragraph 15B(2)18(a) of Schedule 3

when the FCA18 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

SUP 13A

Executive procedures

Paragraph 19(8)/ (12) of Schedule 3

when the FCA18 is proposing or deciding to refuse to give a consent notice to a UK firm wishing to establish a branch under an EEA right

SUP 13

RDC

20

where the FCA18 is proposing to cancel or suspend the registration of a credit union or to petition for the winding up of a credit union

RDC

60(1), 61(1) and 63

where the FCA18 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

RDC

58A(1)(a)/(3)(a)

when the FCA18 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)

RDC

58A(1)(b)/(3)(b)

when the FCA18 is proposing or deciding to give a direction under section 90 providing for a transfer of the engagements of a friendly society *

RDC

85(4A)

when the FCA18, on an amalgamation between friendly societies each of which has a Part 4A permission18, notifies the successor society of the terms of its Part 4A permission18

RDC or executive procedures

See DEPP 2.5.12 G

Regulation 16(1)/(2)

when the FCA18 is proposing or deciding to refuse an application for an authorisation order in respect of a proposed ICVC

COLL 2

RDC or executive procedures

See DEPP 2.5.15 G

Regulation 22(1)/(2)/(4)/(5)

when the FCA18 is proposing to refuse approval of (or, having given a warning notice, deciding to refuse) a proposal to replace the depositary or director23of an ICVC, or any other proposal or decision falling within regulation 21

COLL 2

Executive procedures11

11Regulation 22A(5)(b)/(8)(a)

when the FCA18 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

COLL 11

Executive procedures

Regulation 24(1)/(2)

when the FCA18 is proposing or deciding to revoke an authorisation order relating to an ICVC under regulation 23(1)*

RDC

Regulation 28(1)/(2)

when the FCA18 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

RDC

Paragraph 20 of Schedule 5

when the FCA18 is proposing or deciding to use the disqualification powers under section 249(1)*

RDC

Article 95(2)/(3)

when the FCA18 is proposing or deciding not to include, or to remove, an appointed representative from the Register*

SUP 12.4.10 G

RDC

Article 95(7)/(8)

when the FCA18 is proposing or deciding to refuse an application to revoke a determination not to include, or to remove, an appointed representative from the Register*

SUP 12.4.10 G

RDC

Regulations 9(7) and 14

when the FCA18 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

Executive procedures

Regulations 9(8)(a) and 14

when the FCA18 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 FCA18 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*

Regulation 24(2)

when the FCA18 is proposing to refuse to register an EEA branch

Executive procedures

Regulation 24(3)(a)

when the FCA18 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 FCA18 is proposing or deciding to cancel the registration of an EEA branch*

RDC

Regulation 29(9)

when the FCA18 is proposing to refuse an application for registration as an agent

Executive procedures

Regulation 29(10)(a)

when the FCA18 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 FCA18 is proposing or deciding to remove an agent from the Financial Services Register18 otherwise than at the request of a payment institution*

RDC

Regulations 86(1) and 86(3)

when the FCA18 is proposing, or deciding, to impose a financial penalty*

RDC

Regulations 86(1) and 86(3)

when the FCA18 is proposing, or deciding, to publish a statement that a payment service provider has contravened the Payment Services Regulations*

RDC

Regulations 89(1) and 89(3)

when the FCA18 is proposing or deciding to exercise its powers to require restitution*

RDC

Regulation 121(7)

when the FCA18 is proposing to decide that it has not received the required information or that the required conditions are not met as concerns deemed authorisation

Executive Procedures

Regulation 121(8)

when the FCA18 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 RDC24

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 FCA18 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)

RDC

Schedule 5 paragraph 1

when the FCA18 is proposing or deciding to impose a financial penalty against a relevant person (Note 3)

RDC

Notes:

(2) The Payment Services Regulations do not require third party rights and access to FCA18 material when the FCA18 exercises this power. However, the FCA18 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 FCA18 material when the FCA18 exercises this power. However, the FCA18 generally intends to allow for third party rights and access to material when exercising this power.

37The Money Laundering Regulations 2007The Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 201734

Description

Handbook reference

Decision maker

34Regulations 25(6), 25(9) and 25 (10)(b)

when the FCA is exercising its power to give a direction

RDC

34Regulation 59(3)(b)

when the FCA is proposing to refuse an application for registration

Executive procedures

34Regulation 59(4)(b)

when the FCA is deciding to refuse an application for registration

RDC or executive procedures

(Note 1)

Regulations 60(8) and 60(9)34

when34 the FCA is proposing or deciding to suspend or34 cancel the registration of a34 person registered under the Money Laundering Regulations 34

RDC

Regulations 81(2) and 81 (6)34

when34 the FCA is proposing or deciding to impose a civil penalty under regulations 76, 77 or 78*34

RDC

Note:

(1) The RDC will take the decision to give the notice under regulation 59(4)(b) if representations are made in response to the notice under regulation 59(3)(b) proposing to refuse the registration application.34

Regulation 13(4)/(5)(a)

when the FCA18 is proposing or deciding to refuse an application under regulation 8

RCB 6

Executive procedures

Regulation 20(5)/(6)(a)

when the FCA18 is proposing or deciding not to approve a material change

RCB 6

Executive procedures

Regulation 25(5)/(6)(a)

when the FCA18 is proposing or deciding not to approve a change of ownership

RCB 6

Executive procedures

Regulation 32(1)(a)/ (2)(a)

before the FCA18 gives a direction under regulation 30 or when it decides to make the direction

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*

RCB 6

Executive procedures

Regulation 35(1)/(3)

when the FCA18 is proposing or deciding to impose a penalty on a person under regulation 34*

RCB 6

RDC

Regulations 7(1) and 7(3)

when the FCA18 is proposing or deciding to impose a financial penalty*

RDC

Regulations 7(1) and 7(3)

when the FCA18 is proposing or deciding to publish a statement that a payment service provider has contravened the EU Cross-Border Regulation*

RDC

Regulations 10(1) and 10(3)

when the FCA18 is proposing or deciding to exercise its powers to require restitution*

RDC

Schedule paragraph 1

when the FCA18 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)

RDC

Schedule paragraph 1

when the FCA18 is proposing or deciding to impose a financial penalty against a relevant person (Note 1)

RDC

Note:

(1) The Cross-Border Payments in Euro Regulations do not require third party rights and access to FCA18 material when the FCA18 exercises this power. However, the FCA18 generally intends to allow for third party rights and access to material when exercising this power.

Regulations 9(6) and 15

where the FCA18 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

Executive procedures

Regulations 9(7)(a) and 15

when the FCA18 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 FCA18 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 *

RDC

Regulations 11(6), 11(9), 11(10)(b) and 15

when the FCA18 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 FCA18 is proposing to refuse to register an EEA branch of an authorised electronic money institution

Executive procedures

Regulation 29(3)(a)

when the FCA18 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 FCA18 is proposing or deciding to cancel the registration of an EEA branch of an authorised electronic money institution*

RDC

Regulation 34(9)

when the FCA18 is proposing to refuse an application for registration as an agent

Executive procedures

Regulation 34(10)(a)

when the FCA18 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 FCA18 is proposing or deciding to remove an agent from the Financial Services Register18 otherwise than at the request of the electronic money institution *

RDC

Regulations 53(1) and 53(3)

when the FCA18 is proposing, or deciding, to publish a statement that an electronic money issuer has contravened the Electronic Money Regulations *

RDC

Regulations 53 (1) and 53 (3)

when the FCA18 is proposing or deciding, to impose a financial penalty *

RDC

Regulations 53(1) and 53(3)

When the FCA18 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 *

RDC

Regulations 56(1) and 56(3)

when the FCA18 is proposing or deciding to exercise its powers to require restitution *

RDC

Regulation 74(7)

when the FCA18 is proposing to decide not to include a person on the register

Executive procedures

Regulation 74(8) (a)

when the FCA18 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 RDC24

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 FCA18 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)

RDC

Schedule 3, paragraph 1

when the FCA18 is proposing or deciding to impose a financial penalty against a relevant person (Note 2)

RDC

Notes:

(1)

The RDC will take the decision to give the notice exercising the FCA's18 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 FCA18 material when the FCA18 exercises this power. However, the FCA18 generally intends to allow for third party rights and access to material when exercising this power.

Regulation 5A

where the FCA18 is proposing or deciding to publish a statement censuring an RAP, or to impose a financial penalty on an RAP

REC 2A.4

RDC

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

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

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

39The Co-operative and Community Benefit Societies Act 2014

Description

Handbook reference

Decision maker

Sections 6 and 8

where the FCA gives at least two months’ notice of the proposed cancellation or suspension of the registration of a registered society

Executive procedures

Sections 6 to 8

where the FCA is proposing to cancel or suspend the registration of a registered society relying on condition C, D or E in section 5

Executive procedures where no representations are made in response to a notice of proposed cancellation, otherwise by the RDC

Section 123

where the FCA is proposing to petition for the winding up of a registered society

RDC

Section 132

where the FCA is proposing to prosecute a registered society

Executive procedures or RDC

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

26The 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

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

Paragraphs 12(1)(a) and 13(1)(a) of Schedule 1

when the FCA is proposing or deciding to publish a statement

RDC

Paragraphs 12(1)(b) and 13(1)(b) of Schedule 1

when the FCA is proposing or deciding to impose a penalty

RDC

Paragraph 21(1) and 21(7) of Schedule 1

when the FCA is proposing or deciding to require restitution

RDC

Regulation 10(8)(a)

when the FCA is proposing to impose a restriction on the applicant for authorisation as a data reporting services provider

Executive procedures

Regulation 10(9)(b)

when the FCA is deciding to impose a restriction on the applicant for authorisation as a data reporting services provider

RDC or executive procedures

(see Note 1)

Regulations 8(5) and 10(8)(b)

when the FCA is proposing to refuse an application for verification or authorisation as a data reporting services provider

Executive procedures

Regulations 8(6)(b) and 10(9)(c)

when the FCA is deciding to refuse an application for verification or authorisation as a data reporting services provider

RDC or executive procedures

(see Note 2)

Regulations 8(9), 11(4)(a) and 11(5)(b)(i)

when the FCA is proposing or deciding to cancel a verification or the authorisation of a data reporting services provider otherwise than at its request

RDC

Regulations 8(9), 11(4)(a) and 11(5)(b)(i)

when the FCA is proposing to refuse a request to cancel a verification or authorisation of a data reporting services provider

Executive procedures

Regulations 8(9) and 11(5)(b)(ii)

when the FCA is deciding to refuse a request to cancel a verification authorisation of a data reporting services provider

RDC or executive procedures

(see Note 2)

Regulations 8(10) and 12(3)

when the FCA is proposing to refuse a request to vary a verification or the authorisation of a data reporting services provider

Executive procedures

Regulations 8(10) and 12(4)

when the FCA is deciding to refuse a request to vary a verification or the authorisation of a data reporting services provider

RDC or executive procedures

(see Note 1)

36Regulations 25(1)(a) and 26(1)(a)

when the FCA is proposing or deciding to publish a statement

RDC

36Regulations 25(1)(b) and 26(1)(b)

when the FCA is proposing or deciding to impose a financial penalty

RDC

36Regulation 36(1) and 36(7)

when the FCA is proposing or deciding to require restitution

RDC

Notes:

1) If representations are made in response to a warning notice, then the RDC will take the decision to give a decision notice if the action proposed involves:

(a) restricting a person from providing a data reporting service; or

(b) refusing an application to include a type of activity in a verification or authorisation.

In all other cases, the decision to give a decision notice will be taken by FCA staff under executive procedures.

(2) If representations are made in response to a warning notice then the RDC will take the decision to give a decision notice. Otherwise the decision to give a decision notice will be taken by FCA staff under executive procedures.

Regulation 34 and Regulation 35(4)(a)

when the FCA is proposing or deciding to publish a statement or impose a financial penalty*

RDC

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

Regulation 22

when the FCA is proposing or deciding to refuse an application to register a protected cell company

Not applicable

Executive procedures

Regulation 28

when the FCA is proposing or deciding to refuse approval of a proposed amendment to a protected cell company’'s instrument of incorporation

Not applicable

Executive procedures

Regulations 10(1) and 10(4)

when the FCA is proposing or deciding to take action against a person under regulation 6*

RDC

Paragraph 5(7) of Schedule 1

when the FCA is proposing or deciding to exercise the power under section 384(5) of the Act to require a person to pay restitution*

RDC