DEPP 3.4 Urgent supervisory notice cases

DEPP 3.4.1G

In urgent supervisory notice cases for which the RDC is the decision maker, the decision to give the supervisory notice may be taken by the RDC Chairman or, if he is unavailable, a Deputy Chairman, and, if it is practicable, one or more other RDC members.

DEPP 3.4.2G

The RDC Chairman or Deputy Chairman will take such a decision only if satisfied that the action proposed should occur before it is practicable to convene an RDC panel.

DEPP 3.4.3G

In an exceptionally urgent case the decision to give a supervisory notice may be taken by a member of the FCA's1 executive of at least director of division level if:

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  1. (1)

    FCA1 staff consider that the action should be taken before a recommendation to the Chairman or a Deputy Chairman of the RDC can be made; and

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  2. (2)

    an urgent decision on the proposed action is necessary to protect the interests of consumers.

DEPP 3.4.4G

In the circumstances described in DEPP 3.4.3 G, the FCA1 considers that it may be necessary for an FCA1 director of division to take the decision to give the supervisory notice even if he has been involved in establishing the evidence on which the decision is based, as permitted by section 395(3) of the Act. Where practicable, however, FCA1 staff will seek to ensure that the FCA1 director has not been so involved.

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