DEPP 2 Annex 2 Supervisory notices
Section of the Act |
Description |
Handbook reference |
Decision maker |
55Y(4) 55Y(7) 55Y(8)(b)3 3 |
when the FCA3 is exercising its own-initiative variation power3 to vary a firm's Part 4A permission 3 333 |
See DEPP 2.5.7 G |
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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 |
See DEPP 2.5.8AG and DEPP 2.5.8BG |
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355Y(4) 55Y(7) 55Y(8)(b) |
when the FCA is exercising its own-initiative requirement power |
See DEPP 2.5.7 G |
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78(2)/(5) |
when the FCA3 is proposing to discontinue or discontinues the listing of a security 3 |
See DEPP 2.5.9G (4) and DEPP 2.5.10 G |
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78(2)/(5) |
when the FCA3 is proposing to suspend or suspends the listing of a security 3 |
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278A(2)/(8)(b) |
when the FCA3 discontinues or suspends the listing of a security on the application of the issuer of the security 3 |
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87O(2)/(5) |
when the FCA3 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 |
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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 |
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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 |
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122I11 |
when the FCA3 is proposing to suspend or suspends trading in a financial instrument 3 |
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137S(5) 137S(8)(a) |
when the FCA gives a direction under section 137S |
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2191B(1) |
when the FCA3 gives a restriction notice under section 191B 3 |
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197(3)/(6)/(7)(b) |
when the FCA3 is exercising its power of intervention in respect of an incoming firm 3 |
See DEPP 2.5.7 G and 2.5.7A G2 |
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259(3)/(8)/ (9) (b) |
when the FCA3 is exercising its power to give or, on its own initiative, to vary a direction to the manager and trustee of an AUT 3 |
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4261Z1 |
when the FCA gives a direction under section 261X or section 261Z |
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268(3)/ (7)(a) or (9)(a) (as a result of (8)(b)/(13)) |
when the FCA3 is proposing or deciding to give or, on its own initiative, to vary a direction to the operator of a recognised scheme 3 |
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282 (3)/(6)/ (7)(b) |
when the FCA3 is exercising its power to give a direction to an operator, trustee or depositary of a recognised scheme 3 |
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2301J(1) |
when the FCA3 gives a restriction notice under section 301J 3 |
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321(2)/(5) |
when the FCA3 is exercising its power to impose a requirement on a former underwriting member of Lloyd's 3 |
OEIC Regulations reference |
Description |
Handbook reference |
Decision maker |
Regulation 27 |
when the FCA3 is exercising its power to give or, on its own initiative, to vary a direction to an ICVC and its depositary 3 |
3Payment 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 |
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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 |
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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 |
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Description |
Handbook reference |
Decision maker |
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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 |
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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 |
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See DEPP 2.5.7 G to DEPP 2.5.8 G |
Description |
Handbook reference |
Decision maker |
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Schedule 2A, 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 1) See also DEPP 3.4 |
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Notes: (1) The RDC will take the decision to give a notice imposing a prohibition or imposing or varying a restriction under Schedule 2A 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. |
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6The Financial Services Act 2012 (Consumer Credit) Order 2013 |
Description |
Handbook reference |
Decision maker |
Article 3(6) |
when the FCA is exercising its power of intervention in respect of an incoming firm by reference to the contravention or likely contravention of a CCA Requirement |
See DEPP 2.5.7 G and DEPP 2.5.7A G |
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)* |
Description |
Handbook reference |
Decision maker |
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Article 19(6) |
when the FCA is exercising its own-initiative power to impose a direction |
RDC or executive proceduresSee DEPP 2.5.7G and DEPP 2.5.7AG |