The Data Reporting Services Regulations 2024

Variation of an authorisation to provide data reporting services

11.—(1) A data reporting service provider may apply to the FCA to—

(a) vary its authorisation to enable it to provide one or more additional data reporting services,

(b) remove one or more data reporting services, or

(c) remove a restriction imposed on an applicant under regulation 9.

(2) An application under paragraph (1) (“an application for a variation”) must be made in such manner as the FCA may direct.

(3) If the FCA proposes to refuse a person’s application for a variation it must give the person a warning notice.

(4) The FCA must, having considered any representations made in response to the warning notice—

(a) if it grants the person’s application for a variation, give the person notice of its decision; or

(b) if it refuses the person’s application for a variation, give the person a decision notice.

(5) If the FCA refuses a person’s application for a variation the person may refer the matter to the Tribunal.

(6) 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.

(7) In this regulation, “authorisation” means an authorisation under regulation 9.