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Status: You are viewing the version of the handbook as on 2019-01-31.

REC 3.20 Disciplinary action relating to members

REC 3.20.1RRP

Where a UK recognised body has taken any disciplinary action against any member or any employee of a member, in respect of a breach of a rule relating to the carrying on by the UK recognised body of any of its regulatory functions, that body must immediately notify the FCA 1of that event, and give:

  1. (1)

    the name of the person concerned;

  2. (2)

    details of the disciplinary action taken by the UK recognised body; and

  3. (3)

    the UK recognised body's reasons for taking that disciplinary action.

REC 3.20.2RRP

Where an appeal is lodged against any disciplinary action referred to in REC 3.20.1 R, the UK recognised body must immediately give the FCA 1notice of that event, and:

  1. (1)

    the name of the appellant and the grounds on which the appeal is based, immediately; and

  2. (2)

    the outcome of the appeal, when known.