PART 3 Administration and enforcement

CHAPTER 6 Notices and appeals

16 Meaning of “regulator”
In this Chapter “regulator” means the FCA or the Bank.

17 Warning notices
1 If a regulator proposes to take action against a person under regulation 11(6), 14 or 15 it must give the person a warning notice.
2 A warning notice about—
(a) a proposal to publish a statement must set out the terms of the proposed statement;
(b) a proposal to impose a penalty must state the amount of the penalty;
(c) a proposal to vary a temporary prohibition order must set out the terms of the variation.

18 Decision notices
1 If a regulator decides to take action against a person under regulation 11(6), 14 or 15 it must give the person a decision notice without delay.
2 A decision notice about—
(a) the publication of a statement must set out the terms of the statement;
(b) the imposition of a penalty must state the amount of the penalty;
(c) the variation of a temporary prohibition order must set out the terms of the variation.

19 Application of Part 26 of the Act
1 Part 26 of the Act (notices) applies in respect of notices given under this Part by a regulator as it applies in respect of notices given by the FCA under the Act, but with the following modifications.
Part 26 was amended by paragraph 11 of Schedule 4 to the Regulation of Investigatory Powers Act 2000 (c.23), section 1268 of the Companies Act 2006 (c.46), section 13 and 24 of and paragraph 28 and 29 of Schedule 2 to the Financial Services Act 2010, section 17, 18, 19 and 24 of and paragraph 37 of Schedule 8, Schedule 9 and paragraph 8 of Schedule 13 to the Financial Services Act 2012, section 4 of and Schedule 3 to the Financial Services (Banking Reform) Act 2013 (c.33), S.I. 2005/381, S.I. 2005/1433, S.I. 2007/126, S.I. 2007/1973, S.I. 2009/119, S.I. 2009/534, S.I. 2010/22, S.I. 2010/747, S.I. 2012/916, S.I. 2012/1538, S.I. 2013/1388, S.I. 2013/3115, S.I. 2014/2879, S.I. 2015/1755 and S.I. 2016/225.
2 In section 388 (decision notices)—
(a) in sub-paragraph (i) of paragraph (e) of subsection (1), the reference to the Act is to be read as if it is a reference to this Part;
(b) subsection (2) is to be ignored.
3 In section 390 (notices given in accordance with a court direction)—
(a) in paragraph (a) of subsection (2A), references to section 133(6)(b) and 133(6) apply as if they are references to those provisions as applied by regulation 22;
(b) subsection (6) and (10) are to be ignored.
4 Section 391 (publication of warning notices) applies as if—
(a) a notice given under regulation 10 is a supervisory notice;
(b) in subsection (6) the reference to the FCA is to be read as if it is a reference to a regulator;
(c) in subsection (8C) the reference to the Act is to be read as if it is a reference to this Part.
Subsection (8C) is inserted by paragraph 1(4) of Schedule 1 to these Regulations.
5 Section 392 is to be ignored.
6 Section 393 (third party rights) and 394 (access to FCA or PRA material) apply to a warning notice or decision notice given in accordance with regulation 12(1), 17 or 18.
7 Section 395 (the FCA and PRA's procedures) and 396 (statements under section 395: consultation) do not apply.

20 Service of notices
A notice given under this Part is a “relevant document” for the purposes of the Financial Services and Markets Act 2000 (Service of Notices) Regulations 2001 .
S.I. 2001/1420, amended by section 11, 18 and 24 of the Financial Services Act 2012 (c.21), S.I. 2005/274, S.I. 2010/1193, S.I. 2013/472 and S.I. 2014/549.

21 Appeals
1 A non-authorised counterparty who is aggrieved by a direction given to the non-authorised counterparty by the FCA under regulation 9 may refer the matter to the Tribunal.
2 If a regulator decides to—
(a) publish a statement in respect of a person under regulation 11(6)(a);
(b) impose a penalty on a person under regulation 11(6)(b),
the person may refer the matter to the Tribunal.
3 If the FCA decides to—
(a) publish a statement in respect of a non-authorised counterparty, authorised person or any other person under regulation 14;
(b) impose a penalty on a non-authorised counterparty, authorised person or any other person under regulation 15,
the non-authorised counterparty, authorised person or other person may refer the matter to the Tribunal.

22 The Tribunal
1 Part 9 of the Act (hearings and appeals) applies in the case of a reference to the Tribunal under these Regulations as it applies to a reference to the Tribunal under the Act with the following modifications.
Part 9 was amended by section 23 of the Financial Services Act 2012, paragraph 83 of Schedule 9 to the Crime and Courts Act 2013 (c.22), S.I. 2010/22 and S.I. 2013/1388.
2 Section 133(7A) (proceedings before the Tribunal: general provision) applies as if after paragraph (o) there were references to—
(a) a decision to publish a statement under regulation 11(6)(a) or 14 of these Regulations;
(b) a decision to impose a penalty under regulation 11(6)(b) or 15 of these Regulations.
3 Section 133A(1) (proceedings before Tribunal: decision and supervisory notices, etc.) applies as if the reference to section 388(2) (decision notices) is read to be a reference to these Regulations.
4 Section 134 (legal assistance scheme), 135 (provisions of the legal assistance scheme) and 136 (funding of the legal assistance scheme) are to be ignored.