EG 19.22 1Decision making under the Payment Services Regulations
1The RDC is the FCA's decision maker for some of the decisions under the Payment Services Regulations as set out in DEPP 2 Annex 1G. This builds a layer of separation into the process to help ensure not only that decisions are fair but that they are seen to be fair. The RDC will make its decisions following the procedure set out in DEPP 3.2 or, where appropriate,
DEPP 3.3 and 3.4. DEPP 3.4 applies for urgent notices under
Regulations 11(6), (9), and (10)(b) (including as applied by Regulation 14).
1For decisions made by executive procedures the procedures to be followed will be those described in DEPP 4.
1The Payment Service Regulations require the FCA to give third party rights as set out in section 393 of the Act and to give access to certain material as set out in section 394 of the Act.
Imposition of penalties under the Payment Services Regulations
1As with cases under the Act, the FCA may settle or mediate appropriate cases involving civil breaches of the Payment Services Regulations to assist it to exercise its functions under the Regulations in the most efficient and economic way. See DEPP 5, DEPP 6.7 and EG 5 for further information on the settlement process and the settlement discount scheme.
Statement of policy in section 169(7) interviews (as implemented by the Payment Services Regulations)
1The Payment Services Regulations apply section 169 of the Act which requires the FCA to publish a statement of policy on the conduct of certain interviews in response to requests from overseas regulators. For the purposes of the Payment Services Regulations the FCA will follow the procedures described in DEPP 7.