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Status: You are viewing the version of the handbook as on 2005-06-30.

ENF 3.6 Statutory procedure and the FSA's decision-making processes

ENF 3.6.1G

When the FSA uses, or proposes to use, its own-initiative power to vary a firm's Part IV permission, it is required to follow the supervisory procedure set out in section 53 of the Act (Exercise of own-initiative power: procedure). DEC 3 (Statutory notice procedure: Supervisory notice procedure) sets out this procedure in detail and describes the content of the notices that the FSA is required to give to the firm concerned. DEC 4 (The decision maker) deals with decision making by the RDC (by full or modified procedure) in cases where the variation would make a fundamental change to the nature of the firm's Part IV permission and with decision-making by executive procedures in other cases of own-initiative variations of Part IV permission.