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You are viewing the version of the document as on 2022-09-30.

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    2022-09-30

SYSC 15A.9 Supervisory review and feedback

SYSC 15A.9.1G

1The FCA may provide individual guidance as to whether a firm’s compliance with this chapter is adequate and, if necessary, require a firm to take the necessary actions or steps to address any failure to meet the requirements in this chapter.

SYSC 15A.9.2G

1A firm should have regard to the views provided by the FCA in relation to the firm’s compliance. If a firm considers that any individual guidance given to it is inappropriate to its circumstances it should, consistent with Principle 11 (Relations with regulators), inform the FCA that it disagrees with that guidance. The FCA may reissue the individual guidance if, after discussion with the firm, the FCA concludes that the appropriate actions or steps a firm should take is different from that initially suggested by the FCA.

SYSC 15A.9.3G

1If, after discussion, the FCA and a firm still do not agree, the FCA may consider other tools available to it, including its powers under sections 55J and 55L of the Act on its own initiative to require the firm to take specific steps in line with the FCA’s view to comply with the requirements in this chapter.