Status: Please note you should read all Brexit changes to the FCA Handbook and BTS alongside the main FCA transitional directions. Where these directions apply the 'standstill', firms have the choice between complying with the pre-IP completion day rules, or the post-IP completion day rules. To see a full list of Handbook modules affected, please see Annex B to the main FCA transitional directions.

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

EG 18.1.1 RP

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 RP

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 RP

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 RP

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.