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Status: You are viewing the version of the handbook as on 2009-03-31.

DEPP 2 Annex 1 Warning notices and decision notices under the Act and certain other enactments

Note: Third party rights and access to FSA material apply to the powers listed in this Annex where indicated by an asterisk * (see DEPP 2.4)

Section of the Act

Description

Handbook reference

Decision maker

52(6)(a)

when the FSA is proposing to grant an application for a Part IV permission with a limitation or a requirement which was not applied for, or with a narrower description of regulated activity than that applied for

SUP 6

Executive procedures

52(6)(b)

when the FSA is proposing to grant an application to vary a firm's Part IV permission but, other than as part of the application, to restrict the Part IV permission (either by imposing a limitation or requirement which was not applied for or by specifying a narrower description of regulated activity than that applied for)

Executive procedures

52(7)

when the FSA is proposing to refuse an application for a Part IV permission

Executive procedures

52(7)

when the FSA is proposing to refuse an application to vary a firm's Part IV permission

SUP 6

Executive procedures

52(7)

when the FSA is proposing to refuse an application to cancel a firm's Part IV permission

SUP 6

Executive procedures

52(9)(a)

when the FSA is deciding to grant an application for a Part IV permission with a limitation or a requirement which was not applied for, or with a narrower description of regulated activity than that applied for

RDC or executive procedures

See DEPP 2.5.6 G

52(9)(b)

when the FSA is deciding to grant an application to vary a firm's Part IV permission but, other than as part of the application, to restrict the Part IV permission (either by imposing a limitation or requirement which was not applied for or by specifying a narrower description of regulated activity than that applied for)

SUP 6

RDC or executive procedures

See DEPP 2.5.6 G

52(9)(c)

when the FSA is deciding to refuse an application for a Part IV permission

RDC or executive procedures

See DEPP 2.5.5 G

52(9)(c)

when the FSA is deciding to refuse an application to vary a firm's Part IV permission

SUP 6

RDC or executive procedures

See DEPP 2.5.6 G

52(9)(c)

when the FSA is deciding to refuse an application to cancel a firm's Part IV permission

SUP 6

RDC or executive procedures

See DEPP 2.5.5 G

54(1)/(2)

when the FSA is proposing or deciding to cancel a firm's Part IV permission otherwise than at its request *

RDC

57(1)/(3)

when the FSA is proposing or deciding to make a prohibition order against an individual*

RDC

58(3)/(4)

when the FSA is proposing or deciding to refuse an application for the variation or revocation of a prohibition order

RDC

62(2)

when the FSA is proposing to refuse an application for approval of a person performing a controlled function

SUP 10

Executive procedures

62(3)

when the FSA is deciding to refuse an application for approval of a person performing a controlled function

SUP 10

RDC or executive procedures

See DEPP 2.5.5 G

63(3)/(4)

when the FSA is proposing or deciding to withdraw approval from an approved person *

RDC

67(1)/(4)

when the FSA is proposing or deciding to take action against an approved person by exercising the disciplinary powers conferred by section 66*

RDC

76(4)/(5)

when the FSA is proposing or deciding to refuse an application for listing of securities

LR 2 and LR 3

Executive procedures

78(10)/(11)(a)

when the FSA has suspended, on its own initiative,3 the listing of securities3and is proposing or deciding to refuse an application by an issuer for cancellation of the suspension

3

LR 5

Executive procedures

378A(4)/(5)

When the FSA is proposing or deciding to refuse an application by the issuer of the securities for the discontinuance or suspension of the listing of the securities

LR 5

Executive procedures

378A(7)/(8)(a)

When the FSA has suspended the listing of securities on the application of the issuer of the securities and is proposing or deciding to refuse an application by the issuer for the cancellation of the suspension

LR 5

Executive procedures

87M(2)/(3)

when the FSA is proposing or deciding to publish a statement censuring an issuer of transferable securities, a person offering transferable securities to the public or a person requesting the admission of transferable securities to trading on a regulated market

RDC347

788(4)/(6)

when the FSA is proposing or deciding to (1) refuse a person's application for approval as a sponsor; or (2) on its own initiative, cancel a person's approval as a sponsor

LR 8

RDC

89(2)/(3)

when the FSA is proposing or deciding to publish a statement censuring a sponsor*4

RDC

92(1)/(4)

when the FSA is proposing or deciding to take action against any person under section 91 for breach of Part 6 rules*4

RDC

126(1)/ 127(1)

when the FSA is proposing or deciding to impose a sanction for market abuse *

RDC

189(4)/(7)6

6

when the FSA is proposing or deciding to object to a change in control following receipt of a section 178 notice6

6

SUP 11

Executive procedures

189(4)/(7)6

6

when the FSA is proposing or deciding to approve a change in control with conditions, following receipt of a section 178 notice6

6

SUP 11

Executive procedures

187(1)/(3) and 188(1)191A(4)/(6)6

when the FSA is proposing or deciding to object to a person who has acquired or increased control without giving a section 178 notice6

6

SUP 11

Executive procedures6

6191A(4)/(6)

when the FSA is proposing or deciding to object to a person's control on the basis of the matters in section 186

SUP 11

Executive procedures

6191A(4)/(6)

when the FSA is proposing or deciding to object to a person's control on the grounds that he is in breach of a condition imposed under section 187

SUP 11

Executive procedures

200(4)/(5)

when the FSA is proposing or deciding to refuse an application for variation or rescission of a requirement imposed on an EEA incoming firm

RDC or executive procedures

See DEPP 2.5.6 G

207(1)/ 208(1)

when the FSA is proposing or deciding to publish a statement in respect of an authorised person (under section 205) or impose a financial penalty on an authorised person (under section 206)*

RDC

245(1)/(2)

when the FSA is proposing or deciding to refuse an application for an authorisation order declaring a unit trust scheme to be an AUT

COLL 2

RDC or executive procedures

See DEPP 2.5.15 G

252(1)/(4)

when the FSA is proposing or deciding to refuse approval of a proposal to replace the trustee or manager of an AUT

COLL 2

Executive procedures

255(1)/(2)

when the FSA is proposing or deciding to make an order under section 254 revoking the authorisation order of an AUT *

None, but see Chapter 14 of the Regulatory Guide EG.

RDC

260(1)/(2)

when the FSA, on an application to revoke or vary a direction under section 257, proposes or decides to refuse to revoke or vary the direction or proposes or decides to vary the direction otherwise than in accordance with the application

RDC

264(2)/ 265(4)

when the FSA is notifying or deciding not to withdraw a notice, to the operator and relevant EEA State authorities, that the way in which a collective investment scheme constituted in another EEA State intends to invite persons in the United Kingdom to participate in the scheme does not comply with UK law

COLL 9

See DEPP 2.5.16 G

Executive procedures

269(1)/(2)

when the FSA, on an application under section 267(4) or (5) by an operator of a section 264 recognised scheme to revoke or vary a direction that the promotion of the scheme be suspended, proposes or decides to refuse the application or to vary the direction otherwise than in accordance with the application

RDC

271(1)/(3)

when the FSA is proposing or deciding to refuse approval of a collective investment scheme as a recognised scheme under section 270

COLL 9

Executive procedures

276(1)/(2)

when the FSA is proposing or deciding to refuse an application for an order declaring a collective investment scheme to be a recognised scheme under section 272

COLL 9

Executive procedures

280(1)/(2)

when the FSA is proposing or deciding to direct that a section 270 recognised scheme is to cease to be recognised or to revoke a section 272 order in respect of a recognised scheme *

RDC

1301G(3)(b)/(5)6

6

when the FSA is proposing or deciding12 to object to a proposed acquisition 6of a UK RIE following receipt of a section 301A 6notice .

66

REC 4.2C

Executive procedures12

2301I(3)/(4)6

6

when the FSA is proposing or deciding to object to a person who has acquired or increased control in a UK RIE without giving a section 301 notice6

6

REC 4.2C

Executive procedures

2301I(3)/(4)6

6

when the FSA is proposing or deciding to object to a person's control in a UK RIE on the basis of the approval requirement in section 301F(4)6

6

REC 4.2C

Executive procedures

1313B(9)

when the FSA has required an institution to suspend a financial instrument from trading and it is proposing or deciding to refuse an application by the institution or the issuer for the cancellation of the suspension.

REC 4.2 D4

Executive procedures

2313B(10)/(11)

when the FSA has required an institution to suspend a financial instrument from trading and it is proposing or deciding to refuse an application by the institution or the issuer for the cancellation of the suspension

REC 4.2D

Executive procedures

321(8)/(9)

when the FSA is proposing or deciding to refuse an application for variation or revocation of a direction or a requirement imposed on a former underwriting member of Lloyd's*

RDC

331(1)/(3)

when the FSA is proposing or deciding to make an order disapplying the exemption from the general prohibition under section 327*

RDC

331(7)/(8)

when the FSA is proposing or deciding to refuse an application for the variation or revocation of an order made under section 329*

RDC

345(2)/(3)

when the FSA is proposing or deciding to disqualify an auditor or actuary from being the auditor of, or acting as an actuary for, any authorised person or class of authorised person or from being the auditor of any AUT or ICVC *

RDC

385(1)/ 386(1)

when the FSA is proposing or deciding to exercise the power under section 384(5) to require a person to pay restitution*

RDC

1412B(2)/(3)

when the FSA is proposing/deciding to refuse to approve a relevant system as defined in section 412A(9) of the Act

Executive procedures

1412B(4)/(5)

when the FSA is proposing/deciding to suspend or withdraw its approval in relation to a relevant system as defined in section 412A(9) of the Act*

Executive procedures

1412B(8)/(9)

when the FSA is proposing/deciding to refuse an application to cancel the suspension of approval in relation to a relevant system as defined in section 412A(9) of the Act*

Executive procedures

Paragraph 15A(5) of Schedule 3

when the FSA is notifying or deciding not to withdraw a notice issued to an EEA UCITS management company wishing to deal in units in a collective investment scheme in the United Kingdom and relevant EEA State authorities, that the way in which the EEA UCITS management company intends to market a relevant scheme in the United Kingdom does not comply with UK law

SUP 13A

Executive procedures

Paragraph 19(8)/ (12) of Schedule 3

when the FSA is proposing or deciding to refuse to give a consent notice to a UK firm wishing to establish a branch under an EEA right

SUP 13

RDC

Section of the Building Societies Act 1986

Description

Handbook reference

Decision maker

36A(5)/(5A)

when the FSA is proposing or deciding to issue a prohibition order under section 36A prohibiting the continuance or carrying on of an activity and requiring the disposal of assets acquired or otherwise in a building society's possession by virtue of the activity, where the society has failed to carry into effect a restructuring plan which it has been directed to carry out by the FSA under section 36(8)

See DEPP 2.5.18G (1)

RDC

46A(1)(a)/(3)(a)

when the FSA is proposing or deciding to give a direction under section 36(3), (5), (6), (7) or (10) requiring a building society to submit for its approval a restructuring plan or to submit to the society's members the requisite transfer resolutions for a transfer of the society's business to a company or (if such a direction is given) imposing limitations on the issue of shares, acceptance of deposits or making of loans or requiring the society to take certain steps or refrain from certain action or requiring the removal of a director or other officer*4

RDC

46A(1)(b)/(3)(b)

when the FSA is proposing or deciding to give a direction under section 42B(1) (other than a direction varying a previous direction with the agreement of the building society concerned) that a building society transfers all its engagements to one or more other building societies under section 94 or that it transfers its business to an existing company under section 97*

RDC or executive procedures

See DEPP 2.5.12 G

93(6)

when the FSA, on an amalgamation between building societies, each of which has a Part IV permission to accept deposits , notifies the successor society of the terms of its Part IV permission

See DEPP 2.5.18G (2)

RDC or executive procedures

see DEPP 2.5.12 G

Section of the Credit Unions Act 1979

Description

Handbook reference

Decision maker

20

where the FSA is proposing to cancel or suspend the registration of a credit union or to petition for the winding up of a credit union

CRED 15 Annex 1 G

RDC

Section of the Friendly Societies Act 1992

Description

Handbook reference

Decision maker

58A(1)(a)/(3)(a)

when the FSA is proposing or deciding to give a direction under section 54 or section 55 requiring a friendly society to take or refrain from taking steps where certain activities have become disproportionate to those of the friendly society group or, as the case may be, the society, or varying such a direction other than at the request of the society*

See DEPP 2.5.18G (3)

RDC

58A(1)(b)/(3)(b)

when the FSA is proposing or deciding to give a direction under section 90 providing for a transfer of the engagements of a friendly society *

RDC

85(4A)

when the FSA, on an amalgamation between friendly societies each of which has a Part IV permission, notifies the successor society of the terms of its Part IV permission

RDC or executive procedures

See DEPP 2.5.12 G

OEIC Regulations reference

Description

Handbook reference

Decision maker

Regulation 16(1)/(2)

when the FSA is proposing or deciding to refuse an application for an authorisation order in respect of a proposed ICVC

COLL 2

RDC or executive procedures

See DEPP 2.5.15 G

Regulation 22(1)/(2)/(4)/(5)

when the FSA is proposing to refuse approval of (or, having given a warning notice, deciding to refuse) a proposal to replace the depositary or directorof an ICVC, or any other proposal or decision falling within regulation 21

COLL 2

Executive procedures

Regulation 24(1)/(2)

when the FSA is proposing or deciding to revoke an authorisation order relating to an ICVC under regulation 23(1)*

RDC

Regulation 28(1)/(2)

when the FSA is proposing or deciding to refuse an application to revoke or vary a direction in accordance with a request under regulation 25(7) or to vary the direction in accordance with the application

RDC

Paragraph 20 of Schedule 5

when the FSA is proposing or deciding to use the disqualification powers under section 249(1)*

RDC

Regulated Activities Order

Description

Handbook reference

Decision maker

Article 95(2)/(3)

when the FSA is proposing or deciding not to include, or to remove, an appointed representative from the Register*

SUP 12.4.10 G

RDC

Article 95(7)/(8)

when the FSA is proposing or deciding to refuse an application to revoke a determination not to include, or to remove, an appointed representative from the Register*

SUP 12.4.10 G

RDC

4Regulated Covered Bonds Regulations 2008

Description

Handbook reference

Decision maker

Regulation 13(4)/(5)(a)

when the FSA is proposing or deciding to refuse an application under regulation 8

RCB 6

Executive procedures

Regulation 20(5)/(6)(a)

when the FSA is proposing or deciding not to approve a material change

RCB 6

Executive procedures

Regulation 25(5)/(6)(a)

when the FSA is proposing or deciding not to approve a change of ownership

RCB 6

Executive procedures

Regulation 32(1)(a)/ (2)(a)

before the FSA gives a direction under regulation 30 or when it decides to make the direction

RCB 6

Executive procedures

Regulation 32(1)(b)/(2)(b)

before the FSA removes an issuer from the register of issuers under regulation 31 or when it decides to remove the issuer from the register of issuers*

RCB 6

Executive procedures

Regulation 35(1)/(3)

when the is proposing or deciding to impose a penalty on a person under regulation 34*

RCB 6

RDC