The Securitisation Regulations 2024
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Change 1
44 Decision notice
(1) If, having considered any representations made in response to the warning notice, the FCA decides— (a) to refuse under regulation 27 an application under regulation 26 for registration as a third party verification service, (b) to withdraw a person’s registration to provide a third party verification service under regulation 31, (c) to refuse an application to withdraw a person’s registration to provide a third party verification service under regulation 32, (d) to impose a temporary prohibition under regulation 37 (whether or not in the terms proposed), (e) to publish a statement in respect of a person under regulation 41 (whether or not in the terms proposed), (f) to impose a penalty on a person under regulation 42 (whether or not of the amount proposed), the FCA must give the person concerned a decision notice. (2) If, having considered any representations made in response to the warning notice, the PRA decides— (a) to impose a temporary prohibition under regulation 37, (b) to publish a statement in respect of a person under regulation 41, (c) to impose a penalty on a person under regulation 42, it must give the person a decision notice. (3) A decision notice about a decision to impose a temporary prohibition in relation to management functions under regulation 37 must set out the terms of the prohibition. (4) A decision notice about a decision to publish a statement under regulation 41 must set out the terms of the statement. (5) A decision notice about a decision to impose a penalty under regulation 42 must state the amount of the penalty. (6) After a statement under regulation 41 (public censure) is published, the regulator that published it must send a copy of it to the person concerned and to any person to whom a copy of the decision notice is given under section 393(4) of FSMA 2000 (third party rights), as applied by Schedule 1.
44 Decision notice
(1) If, having considered any representations made in response to the warning notice, the FCA decides— (a) to refuse under regulation 27 an application under regulation 26 for registration as a third party verification service, (b) to withdraw a person’s registration to provide a third party verification service under regulation 31, (c) to refuse an application to withdraw a person’s registration to provide a third party verification service under regulation 32, (d) to impose a temporary prohibition under regulation 37 (whether or not in the terms proposed), (e) to publish a statement in respect of a person under regulation 41 (whether or not in the terms proposed), (f) to impose a penalty on a person under regulation 42 (whether or not of the amount proposed), the FCA must give the person concerned a decision notice. (2) If, having considered any representations made in response to the warning notice, the PRA decides— (a) to impose a temporary prohibition under regulation 37, (b) to publish a statement in respect of a person under regulation 41, (c) to impose a penalty on a person under regulation 42, it must give the person a decision notice. (3) A decision notice about a decision to impose a temporary prohibition in relation to management functions under regulation 37 must set out the terms of the prohibition. (4) A decision notice about a decision to publish a statement under regulation 41 must set out the terms of the statement. (5) A decision notice about a decision to impose a penalty under regulation 42 must state the amount of the penalty. (6) After a statement under regulation 41 (public censure) is published, the regulator that published it must send a copy of it to the person concerned and to any person to whom a copy of the decision notice is given under section 393(4) of FSMA 2000 (third party rights), as applied by Schedule 1.
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