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REC 6.5 FCA decision on recognition1

REC 6.5.1GRP

If the FCA1 considers that the requirements of the Act are satisfied, it may make a recognition order, which will state the date on which it takes effect.

REC 6.5.2GRP

Where the FCA1 considers that it is unlikely to make a recognition order, it will discuss its concerns with the applicant with a view to enabling the applicant to make changes to its rules or guidance, or other parts of the application. If the FCA1 decides to refuse to make a recognition order, it will follow the procedure set out in section 298 of the Act (Directions and revocation: procedure) (which applies in consequence of section 290(5) of the Act (Recognition orders)) which is described in more detail in REC 4.8.

REC 6.5.3G