DEPP 4.2 Urgent statutory notice cases

DEPP 4.2.1G

If FCA2 staff recommend that action be taken and they consider that the decision falls within the responsibility of a senior staff committee:

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  1. (1)

    in general the FCA2 staff's recommendation will go before the senior staff committee;

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  2. (2)

    in urgent statutory notice cases for which a senior staff committee is responsible, the decision to give the statutory notice may be taken by the chairman or, if he is unavailable, a deputy chairman of the senior staff committee, and, if it is practicable, one or more other members of the committee;

  3. (3)

    the chairman or deputy chairman of the senior staff committee will take such a decision only if satisfied that the action proposed should occur before it is practicable to convene a meeting of the senior staff committee;

  4. (4)

    in an exceptionally urgent statutory notice case, if in the FCA2 staff's opinion:

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    1. (a)

      the action should be taken before a recommendation to the chairman or a deputy chairman of the senior staff committee could be made; and

    2. (b)

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

    the decision may be taken by a member of the FCA's2 executive of at least director of division level (which may include an acting director)1 or, in the case of a senior staff committee which reports directly to the FCA's2 senior executive committee, by a member of that committee.

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DEPP 4.2.2G

In the circumstances described in DEPP 4.2.1 G (4) the FCA2 considers that it may be necessary for an FCA2 director of division or member of a senior staff committee to take the decision to give a 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, FCA2 staff will seek to ensure that the FCA2 director or committee member has not been so involved.

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