SUP 8.7 Varying waivers

Once the appropriate regulator1 has given a waiver, it may vary it with the firm's consent, or on the firm's application. If a firm wishes the appropriate regulator1 to vary a waiver, it should follow the procedures in SUP 8.3.3 D, giving reasons for the application. In a case where a waiver has been given to a number of firms (see SUP 8.3.10 G), if the appropriate regulator1wishes to vary such waivers with the consent of those firms, it will follow the procedures in SUP 8.3.10 G.

If the waiver that has been varied has previously been published, the appropriate regulator1 will publish the variation unless it is satisfied that it is inappropriate or unnecessary to do so, having regard to any representation made by the firm.