Related provisions for IFPRU 4.12.15
101 - 120 of 179 items.
1In appropriate cases, the FCA may take other action against an individual in addition to making a prohibition order and/or withdrawing its approval, including the use of its powers to: impose a financial penalty or issue a public censure; apply for an injunction to prevent dissipation of assets; stop any continuing misconduct; order restitution; apply for an insolvency order or an order against debt avoidance; and/or prosecute certain criminal offences.
On:(1) the presentation of a petition for the winding up of a UK recognised body (or the commencement of any similar or analogous proceedings under the law of a jurisdiction outside the United Kingdom); or(2) the appointment of a receiver, administrator, liquidator, trustee or sequestrator of assets of that body (or of any similar or analogous appointment under the laws of a jurisdiction outside the United Kingdom); or(3) the making of a voluntary arrangement by that body with
1Under section 198 of the Act the FCA has power to apply to court on behalf of the Home State regulator of certain incoming EEA
firms for an injunction restraining the incoming EEA
firm from disposing of, or otherwise dealing with, any of its assets. The FCA will consider exercising this power only where a request from a Home State regulator satisfies the requirements of section 198(1).
1This chapter explains the FCA's policies on how it uses its powers under the Act to apply to the court for orders under existing insolvency legislation and exercise its rights under the Act to be involved in proceedings under that legislation. The FCA's effective use of its powers and rights in insolvency proceedings helps it pursue its statutory objectives, including its operational objectives of securing an appropriate degree of protection for consumers, protecting and enhancing
If a firm ceases to be a participant firm or carry out activities within one or more classes54 part way through a financial year6 of the compensation scheme:44(1) it will remain liable for any unpaid levies which the FSCS has already made on the firm; and41(2) the FSCS may make one or more levies4 upon it (which may be before or after the firm5 has ceased to be a participant firm or carry out activities within one or more classes5,4 but must be before it ceases to be an authorised