Content Options

EG 8.7 1The FCA’s policy on exercising its power of intervention against incoming firms under section 196 of the Act

EG 8.7.1

1The FCA adopts a similar approach to the exercise of its power of intervention under section 196 as it does to its own-initiative powers to vary Part 4A permission or impose requirements, but with suitable modification for the differences in the statutory grounds for exercising the powers. Consequently the factors and considerations set out in paragraphs 8.2.1 to 8.4.4 and 8.6.1 to 8.6.8 may also be relevant when the FCA is considering regulatory concerns about incoming firms.

EG 8.7.2

1When it is considering action against an incoming firm, the FCA will co-operate with the firm's Home State regulator as appropriate, including notifying and informing the firm's Home State regulator as required by the relevant section of the Act.