DEPP 4.2 Urgent statutory notice cases

If FCA staff recommend that action be taken and they consider that the decision falls within the responsibility of a senior staff committee:

1. (1)

   in general the FCA staff's recommendation will go before the senior staff committee;

2. (2)

   in urgent statutory notice cases for which a senior staff committee is responsible, the decision to give the statutory notice may be taken by the chairman or, if he is unavailable, a deputy chairman of the senior staff committee, and, if it is practicable, one or more other members of the committee;

3. (3)

   the chairman or deputy chairman of the senior staff committee will take such a decision only if satisfied that the action proposed should occur before it is practicable to convene a meeting of the senior staff committee;

4. (4)

   in an exceptionally urgent statutory notice case, if in the FCA staff's opinion:

   1. (a)

      the action should be taken before a recommendation to the chairman or a deputy chairman of the senior staff committee could be made; and

   2. (b)

      an urgent decision on the proposed action is necessary to protect the interests of consumers;

   the decision may be taken by a member of the FCA's executive of at least director of division level (which may include an acting director) or, in the case of a senior staff committee which reports directly to the FCA's senior executive committee, by a member of that committee.