PART 8Monitoring, disciplinary measures and procedures

Decision noticeI144

1

If, having considered any representations made in response to the warning notice, the FCA decides—

a

to refuse under regulation 27 an application under regulation 26 for registration as a third party verification service,

b

to withdraw a person’s registration to provide a third party verification service under regulation 31,

c

to refuse an application to withdraw a person’s registration to provide a third party verification service under regulation 32,

d

to impose a temporary prohibition under regulation 37 (whether or not in the terms proposed),

e

to publish a statement in respect of a person under regulation 41 (whether or not in the terms proposed),

f

to impose a penalty on a person under regulation 42 (whether or not of the amount proposed),

the FCA must give the person concerned a decision notice.

2

If, having considered any representations made in response to the warning notice, the PRA decides—

a

to impose a temporary prohibition under regulation 37,

b

to publish a statement in respect of a person under regulation 41,

c

to impose a penalty on a person under regulation 42,

it must give the person a decision notice.

3

A decision notice about a decision to impose a temporary prohibition in relation to management functions under regulation 37 must set out the terms of the prohibition.

4

A decision notice about a decision to publish a statement under regulation 41 must set out the terms of the statement.

5

A decision notice about a decision to impose a penalty under regulation 42 must state the amount of the penalty.

6

After a statement under regulation 41 (public censure) is published, the regulator that published it must send a copy of it to the person concerned and to any person to whom a copy of the decision notice is given under section 393(4) of FSMA 200043 (third party rights), as applied by Schedule 1.