EG 18.1 1Cancellation on the FCA’s own-initiative

1The FCA may cancel a sponsor's approval under section 88 of the Act if it considers that a sponsor has failed to meet the criteria for approval as a sponsor as set out in UKLR 24.4.5R2.

1When considering whether to cancel a sponsor's approval on its own initiative, the FCA will take into account all relevant factors, including, but not limited to, the following:

1. (1)

   the competence of the sponsor;

2. (2)

   the adequacy of the sponsor's systems and controls;

3. (3)

   the sponsor's history of compliance with the listing rules;

4. (4)

   the nature, seriousness and duration of the suspected failure of the sponsor to meet (at all times) the criteria for approval as a sponsor set out in UKLR 24.4.5R2;

5. (5)

   any matter which the FCA could take into account if it were considering an application for approval as a sponsor made under section 88(3)(d) of the Act.

1The FCA may also cancel a primary information provider’s approval under section 89P of the Act if it considers that a primary information provider has failed to meet the criteria for approval as a primary information provider as set out in DTR 8.3.

1When considering whether to cancel a primary information provider’s approval on its own initiative, the FCA will take into account all relevant factors, including, but not limited to, the following:

1. (1)

   the competence of the primary information provider;

2. (2)

   the adequacy of the primary information provider’s systems and controls;

3. (3)

   the primary information provider’s history of compliance with DTR 8;

4. (4)

   the nature, seriousness and duration of the suspected failure of the primary information provider to meet (at all times) the criteria for approval as a primary information provider set out in DTR 8.3;

5. (5)

   any matter which the FCA could take into account if it were considering an application for approval as a primary information provider made under section 89P(4)(c) of the Act.