Related provisions for EG 19.2.7
1 - 2 of 2 items.
1The FCA has certain functions in relation to what are described as “registrant-only” mutual societies including registered societies or registered friendly societies.2 These societies are not regulated or supervised under the Act. Instead, they are subject to the provisions of2 FSA74, FSA92, CCBSA14 and CCBSA(NI)693 which require them to register with the FCA and fulfil certain other obligations, such as the requirement to submit annual returns. 2
1The decision whether to initiate criminal and other proceedings under these Acts will be taken in accordance with the procedure described in EG 12.1.7. Under these Acts,3 a society may appeal certain decisions of the FCA relating to the refusal, cancellation or suspension of a society’s registration to the High Court or, in Scotland, the Court of Session. 3Distinguishing features of the procedure for giving statutory notices under the FSA92, including available rights of reference
1Decisions about whether to initiate criminal proceedings under the Building Societies Act 1986, the Friendly Societies Acts 1974 and 1992, the Credit Unions Act 1979 and the Co-operative and Community Benefit Societies Act 20142 may either be taken by the procedure described in EG 12.1.52 or under executive procedures. The less serious the offence or its impact and the less complex the issues raised, the more likely that the FCA will take the decision to prosecute under executive