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EG 18.1 1Cancellation on the FCA’s own-initiative

EG 18.1.1

1The FCA may cancel a sponsor's approval under section 88 of the Act if it considers that a sponsor has failed to meet the criteria for approval as a sponsor as set out in LR 8.6.5R.

EG 18.1.2

1When considering whether to cancel a sponsor's approval on its own initiative, the FCA will take into account all relevant factors, including, but not limited to, the following:

  1. (1)

    the competence of the sponsor;

  2. (2)

    the adequacy of the sponsor's systems and controls;

  3. (3)

    the sponsor's history of compliance with the listing rules;

  4. (4)

    the nature, seriousness and duration of the suspected failure of the sponsor to meet (at all times) the criteria for approval as a sponsor set out in LR 8.6.5R;

  5. (5)

    any matter which the FCA could take into account if it were considering an application for approval as a sponsor made under section 88(3)(d) of the Act.

EG 18.1.3

1The FCA may also cancel a primary information provider’s approval under section 89P of the Act if it considers that a primary information provider has failed to meet the criteria for approval as a primary information provider as set out in DTR 8.3.

EG 18.1.4

1When considering whether to cancel a primary information provider’s approval on its own initiative, the FCA will take into account all relevant factors, including, but not limited to, the following:

  1. (1)

    the competence of the primary information provider;

  2. (2)

    the adequacy of the primary information provider’s systems and controls;

  3. (3)

    the primary information provider’s history of compliance with DTR 8;

  4. (4)

    the nature, seriousness and duration of the suspected failure of the primary information provider to meet (at all times) the criteria for approval as a primary information provider set out in DTR 8.3;

  5. (5)

    any matter which the FCA could take into account if it were considering an application for approval as a primary information provider made under section 89P(4)(c) of the Act.