PART 3
CHAPTER 1Third party verifiers
Cancellation of authorisation to provide a third party verification service on the initiative of the FCA16
1
The FCA may cancel an authorisation to provide a third party verification service if it appears to the FCA that—
a
the third party verifier is materially non-compliant with Article 28(1) of the EU Securitisation Regulation 2017;
b
the third party verifier has failed, during a period of at least 12 months, to provide a third party verification service;
c
the third party verifier has obtained the registration to provide third party verification services through false statements or other irregular means;
d
the third party verifier has failed to comply with Article 28(2) of the EU Securitisation Regulation 2017; or
e
it is desirable to do so to advance one or more of the FCA's operational objectives set out in section 1B(3) of the Act.
2
Where the period for a reference to the Tribunal has expired without a reference being made, the FCA must as soon as practicable update the register accordingly.