PART 8Monitoring, disciplinary measures and procedures

Consultation in relation to certain enforcement actionI145

1

The FCA must consult the PRA before giving a warning notice under regulation 43(1)(a), (b), (c), (e) or (f) or a decision notice under regulation 44(1)(a) (b), (c), (e) or (f) in relation to a person who—

a

is a PRA-authorised person, or

b

has a qualifying relationship with a PRA-authorised person.

2

The FCA must consult the PRA before giving a warning notice under regulation 43(1)(d) or a decision notice under regulation 44(1)(d) if as a result of the prohibition in question an individual would be prohibited from performing a management function in relation to a PRA-authorised person.

3

The PRA must consult the FCA before giving a warning notice under regulation 43(2).

4

A person has a qualifying relationship with a PRA-authorised person for the purposes of this regulation if the person is a member of the PRA-authorised person’s immediate group.

5

In this regulation “immediate group” has the meaning given in section 421ZA of FSMA 200044.