F60A warning notice must specify a reasonable period (which may not be less than F6114 days) within which the person to whom it is given may make representations to the F62regulator concerned.

F63The regulator concerned may extend the period specified in the notice.

F64The regulator concerned must then decide, within a reasonable period, whether to give the person concerned a decision notice.

If the decision notice was preceded by a warning notice, the action to which the decision notice relates must be action under the same Part as the action proposed in the warning notice.

F67The regulator concerned may, before it takes the action to which a decision notice (“the original notice”) relates, give the person concerned a further decision notice which relates to different action in respect of the same matter.

F68The regulator concerned may give a further decision notice as a result of subsection (3) only if the person to whom the original notice was given consents.

If the person to whom a decision notice is given under subsection (3) had the right to refer the matter to which the original decision notice related to the Tribunal, he has that right as respects the decision notice under subsection (3).

But subsection (1) does not apply if the discontinuance of the proceedings concerned results in the granting of an application made by the person to whom the warning or decision notice was given.

A notice of discontinuance must identify the proceedings which are being discontinued.

If F73a regulator has given a person a decision notice and the matter was not referred to the Tribunal within the F1time required by Tribunal Procedure Rules, F74the regulator must, on taking the action to which the decision notice relates, give the person concerned and any person to whom the decision notice was copied a final notice.

The period stated under subsection (5)(b) or (6)(c) may not be less than 14 days beginning with the date on which the final notice is given.

If all or any of the amount of a penalty payable under a final notice is outstanding at the end of the period stated under subsection (5)(b), F78the regulator giving the notice may recover the outstanding amount as a debt due to it.

If all or any of a required payment or distribution has not been made at the end of a period stated in a final notice under subsection (6)(c), the obligation to make the payment is enforceable, on the application of F79the regulator giving the notice, by injunction or, in Scotland, by an order under section 45 of the M1Court of Session Act 1988.

In the case of a warning notice not falling within subsection (1ZB), neither the regulator giving the notice nor a person to whom it is given or copied may publish the notice or any details concerning it.

A person to whom a decision notice is given or copied may not publish the notice or any details concerning it unless the F90regulator giving the notice has published the notice or those details.

A notice of discontinuance must state that, if the person to whom the notice is given consents, the F87regulator giving the notice may publish such information as it considers appropriate about the matter to which the discontinued proceedings related.

A copy of a notice of discontinuance must be accompanied by a statement that, if the person to whom the notice is copied consents, the F88regulator giving the notice may publish such information as it considers appropriate about the matter to which the discontinued proceedings related, so far as relevant to that person.

F83The regulator giving a decision or final notice must publish such information about the matter to which F84the notice relates as it considers appropriate.

Subsection (4) is subject to F128sections 391A F133, 391B F141, 391C and 391D.

When a supervisory notice takes effect, the F89regulator giving the notice must publish such information about the matter to which the notice relates as it considers appropriate.

Subsection (5) does not apply in relation to a notice given in accordance with section 137S(5) or (8)(a) (but see section 137S(11)).

Information is to be published under this section in such manner as the F85regulator considers appropriate.

Where F86a regulator publishes information under subsection (4) or (5) in respect of a final notice or a supervisory notice which relates to a contravention of a requirement falling within subsection (7B) at the same time as it publishes the information it must notify ESMA that it has done so.

Where a decision notice or final notice relates to any decision or action under a provision of this Act in relation to the contravention of a requirement imposed by the CSD regulation or any directly applicable regulation made under the CSD regulation, this section has effect subject to Article 62 of the CSD regulation (publication of decisions).

Where a decision notice or final notice relates to any decision or action under a provision of this Act in relation to the contravention of a requirement imposed by the market abuse regulation or a directly applicable EU regulation made under the market abuse regulation, this section has effect subject to Article 34 of the market abuse regulation (publication of decisions).

Where a decision notice, final notice or supervisory notice relates to any decision or action under a provision of this Act in relation to the contravention of a requirement imposed by or under Article 4 or 15 of the SFT regulation, this section has effect subject to Article 26 of the SFT regulation (publication of decisions).

Where a decision notice or final notice relates to any decision or action under a provision of this Act in relation to the contravention of a requirement imposed by the EU Benchmarks Regulation 2016 or any directly applicable regulation made under the EU Benchmarks Regulation 2016, this section has effect subject to Article 45 of the EU Benchmarks Regulation 2016 (publication of decisions).

“Notice of discontinuance” means a notice given under section 389.

“Supervisory notice” has the same meaning as in section 395.

Section 425A (meaning of “consumers”) applies for the purposes of this section.

This section applies where a decision notice or final notice relates to the imposition of a penalty to which Article 68(1) of the capital requirements directive applies.

Where a regulator publishes information under section 391(4) about a matter to which a decision notice relates and the person to whom the notice is given refers the matter to the Tribunal, the regulator must, without undue delay, publish on its official website information about the status of the appeal and its outcome.

Subject to subsection (4), where a regulator gives a final notice, the regulator must publish information on the type and nature of the breach and the identity of the person on whom the penalty is imposed.

Where subsection (4) applies, the regulator may make such arrangements as to the publication of information (including as to the timing of publication) as are necessary to preserve the anonymity of the person on whom the penalty is imposed.

This section applies where a decision notice, final notice or notice under section 89M relates to the imposition of a sanction or measure to which Article 29(1) of the transparency obligations directive applies.

Subject to subsection (4), where the FCA gives a final notice or a notice under section 89M, it must publish information on the type and nature of the breach and the identity of the person on whom the sanction or measure is imposed.

Where subsection (4) applies, the FCA may make such arrangements as to the publication of information (including as to the timing of publication) as are necessary to preserve the anonymity of the person on whom the sanction or measure is imposed.

In this section, the “transparency obligations directive” has the same meaning as in section 103(1).

This section applies where a supervisory notice, decision notice or final notice relates to the imposition of a sanction or measure to which Article 99 of the UCITS directive applies.

Where the FCA publishes information under section 391(4) or (5) about a matter to which a decision notice or supervisory notice relates and the person to whom the notice is given refers the matter to the Tribunal, the FCA must, without undue delay, publish on its official website information about the status of the appeal and its outcome.

Subject to subsection (4), where the FCA gives a final notice, it must, without undue delay, publish on its official website information on the type and nature of the breach and the identity of the person on whom the sanction or measure is imposed.

Where subsection (4) applies, the FCA may make such arrangements as to the publication of information (including as to the timing of publication) as are necessary to preserve the anonymity of the person on whom the sanction or measure is imposed.

This section applies where a supervisory notice, decision notice or final notice relates to the imposition of a sanction or measure to which Article 71 of the markets in financial instruments directive applies.

Where a regulator publishes information under section 391(4) or (5) about a matter to which a supervisory notice or decision notice relates and the person to whom the notice is given refers the matter to the Tribunal, the regulator must, without undue delay, publish on its official website information about the status of the appeal and its outcome.

Subject to subsections (4), (5), and (8) where a regulator gives a final notice, it must, without undue delay, publish on its official website information on the type and nature of the breach and the identity of the person on whom the sanction or measure is imposed.

Where subsection (5)(b) applies, the regulator may make such arrangements as to the publication of information (including as to the timing of publication) as are necessary to preserve the anonymity of the person on whom the sanction or measure is imposed.

This section applies where a supervisory notice, decision notice or final notice relates to the imposition of a sanction or measure to which Article 32 of the insurance distribution directive applies.

Where a regulator publishes information under section 391(4) or (5) about a matter to which a decision notice or supervisory notice relates and the person to whom the notice is given refers the matter to the Tribunal, the regulator must, without undue delay, publish on its official website information about the status of the appeal and its outcome.

Subject to subsection (4), where the regulator gives a final notice, it must, without undue delay, publish on its official website information on the type and nature of the breach and the identity of the person on whom the sanction or measure is imposed.

In this section “supervisory notice” has the same meaning as in section 395.

The notice copied to a third party under subsection (1) must specify a reasonable period (which may not be less than F9914 days) within which he may make representations to F100the regulator giving the notice.

If the decision notice was preceded by a warning notice, a copy of the decision notice must (unless it has been given under subsection (4)) be given to each person to whom the warning notice was copied.

Neither subsection (1) nor subsection (4) requires a copy of a notice to be given to a third party if F103the regulator giving the notice considers it impracticable to do so.

Subsections (9) to (11) apply if the person to whom a decision notice is given has a right to refer the matter to the Tribunal.

The copy must be accompanied by an indication of the third party’s right to make a reference under subsection (9) and of the procedure on such a reference.

Section 394 applies to a third party as it applies to the person to whom the notice to which this section applies was given, in so far as the material F106to which access must be given under that section relates to the matter which identifies the third party.

A copy of a notice given to a third party under this section must be accompanied by a description of the effect of section 394 as it applies to him.

Any person to whom a warning notice or decision notice was copied under this section must be given a copy of a notice of discontinuance applicable to the proceedings to which the warning notice or decision notice related.

A level of seniority laid down by the procedure for the purposes of subsection (3)(b) must be appropriate to the importance of the decision.

F23Each regulator must issue a statement of F24its procedure.

The statement must be published in the way appearing to F25the regulator issuing it to be best calculated to bring F26the statement to the attention of the public.

F27The regulator issuing the statement may charge a reasonable fee for providing a person with a copy of the statement.

F28The regulator issuing a statement under this section must, without delay, give the Treasury a copy of F29the statement.

When F30a regulator gives a supervisory notice, or a warning notice or decision notice, F31other than a warning notice or decision notice relating to a decision of the PRA that is required by a a decision of the FCA of the kind mentioned in subsection (1)(b)(ii)F32the regulator must follow its stated procedure.

When the FCA takes a decision falling within subsection (1)(b)(ii), it must follow its stated procedure.

If F34a regulator changes F35its procedure in a material way, it must publish a revised statement.

F36A regulator's failure in a particular case to follow its procedure as set out in the latest published statement does not affect the validity of a notice given in that case.

But subsection (11) does not prevent the Tribunal from taking into account any such failure in considering a matter referred to it.

Before issuing a statement of F40its procedure under section 395, F41the regulator must publish a draft of the proposed statement in the way appearing to F42it to be best calculated to bring F43the draft to the attention of the public.

The draft must be accompanied by notice that representations about the proposal may be made to the F44regulator publishing the draft within a specified time.

F45Before a regulator issues the proposed statement of its procedure, it must have regard to any representations made to it in accordance with subsection (2).

If the F47statement of the regulator's procedure differs from the draft published by it under subsection (1) in a way which is F48, in its opinion, significant, F49it must (in addition to complying with subsection (4)) publish details of the difference.

F50The regulator publishing a draft under subsection (1) may charge a reasonable fee for providing a person with a copy of F51the draft.

This section also applies to a proposal to revise a statement of policy.