C8C9C10C11C12C13C14C18C19C20C25C26C29C28C27C30C31 Part XXVI Notices

Annotations:
Modifications etc. (not altering text)
C8

Pt. 26 (ss. 387-396) applied (with modifications) (17.8.2001 for certain purposes otherwise 1.12.2001) by 1992 c. 40, s. 58A(6)(8) (as substituted (17.8.2001 for certain purposes otherwise 1.12.2001) by 2001/2617, arts. 2, 8, 13(1), Sch. 3 Pt. I para. 75 (with art. 13(3), Sch.5)); S.I. 2001/3538, art. 2(1)

Pt. 26 (ss. 387-396) applied (with modifications) (17.8.2001 for certain purposes otherwise 1.12.2001) by 1992 c. 40, s. 85(4B) (as inserted (17.8.2001 for certain purposes otherwise 1.12.2001) by S.I. 2001/2617, arts. 2, 8, 13(1), Sch. 3 Pt. I para. 95 (with art. 13(3), Sch. 5)); S.I. 2001/3538, art. 2(1)

Pt. 26 (ss. 387-396) applied (with modifications) (17.8.2001 for certain purposes otherwise 1.12.2001) by 1992 c. 40, s. 36A(5C)(5D) (as substituted (17.8.2001 for certain purposes otherwise 1.12.2001) by S.I. 2001/2617, arts. 2, 8, 13(1), Sch. 3 Pt. II para. 142(c) (with art. 13(3), Sch. 5)); S.I. 2001/3538, art. 2(1)

Pt. 26 (ss. 387-396) applied (with modifications) (17.8.2001 for certain purposes otherwise 1.12.2001) by 1986 c. 53, s. 46A(6)(8) (as substituted (17.8.2001 for certain purposes otherwise 1.12.2001) by S.I. 2001/2617, arts. 2, 8, 13(1), Sch. 3 Pt. II para. 148 (with art. 13(3), Sch. 5)); S.I. 2001/3538, art. 2(1)

Pt. 26 (ss. 387-396) applied (with modifications) (17.8.2001 for certain purposes otherwise 1.12.2001) by 1986 c. 53, s. 93(6A) (as substituted (17.8.2001 for certain purposes otherwise 1.12.2001) by S.I. 2001/2617, arts. 2, 8, 13(1), Sch. 3 Pt. II para. 177(d) (with art. 13(3), Sch. 5)); S.I. 2001/3538, art. 2

C11

Pt. 26 applied (with modifications) (11.2.2010) by The Cross-Border Payments in Euro Regulations 2010 (S.I. 2010/89), reg. 19, Sch. para. 5

C12

Pt. 26 applied (with modifications) (7.6.2010) by The Credit Rating Agencies Regulations 2010 (S.I. 2010/906), reg. 30

C13

Pt. 26 applied (with modifications) (9.2.2011 for certain purposes and 30.4.2011 otherwise) by The Electronic Money Regulations 2011 (S.I. 2011/99), regs. 1(2)(a)(xiv)(b), 62, Sch. 3 para. 8 (with reg. 3) (as amended (1.4.2013) by The Financial Services Act 2012 (Consequential Amendments and Transitional Provisions) Order 2013 (S.I. 2013/472), Sch. 2 para. 196(5)(h))

C20

Pt. 26 applied (with modifications) (26.7.2013 for specified purposes, 1.4.2014 in so far as not already in force) by The Financial Services Act 2012 (Consumer Credit) Order 2013 (S.I. 2013/1882), arts. 1(1), 3(11)

C25

Pt. 26 applied (with modifications) (12.12.2014) by The Immigration Act 2014 (Bank Accounts) Regulations 2014 (S.I. 2014/3085), regs. 1, 29

C29

Pt. 26 applied (20.4.2015 for specified purposes, 21.12.2015 for specified purposes, 21.3.2016 in so far as not already in force) by The Mortgage Credit Directive Order 2015 (S.I. 2015/910), arts. 1(5), 24(2) (with Pt. 4)

C31

Pt. 26 applied (with modifications) (18.9.2016) by The Payment Accounts Regulations 2015 (S.I. 2015/2038), reg. 1(2)(b), Sch. 7 para. 4

Publication

C1C2C16C15C24391 Publication.

F61

In the case of a warning notice falling within subsection (1ZB)—

a

neither the regulator giving the notice nor a person to whom it is given or copied may publish the notice,

b

a person to whom the notice is given or copied may not publish any details concerning the notice unless the regulator giving the notice has published those details, and

C17c

after consulting the persons to whom the notice is given or copied, the regulator giving the notice may publish such information about the matter to which the notice relates as it considers appropriate.

1ZA

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.

1ZB

A warning notice falls within this subsection if it is given under—

a

section 63B;

b

section 67;

c

section 87M;

d

section 88B;

e

section 89K;

f

section 89R;

g

section 92;

h

section 126;

i

section 131H;

j

section 192L;

k

section 207;

l

section 312G;

m

section 345B (whether as a result of section 345(2) or 345A(3) or section 249(1) F15or 261K(1)).

F11A

A person to whom a decision notice is given or copied may not publish the notice or any details concerning it unless the F14regulator giving the notice has published the notice or those details.

2

A notice of discontinuance must state that, if the person to whom the notice is given consents, the F11regulator giving the notice may publish such information as it considers appropriate about the matter to which the discontinued proceedings related.

3

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 F12regulator 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.

C3C44

F7The regulator giving a decision or final notice must publish such information about the matter to which F8the notice relates as it considers appropriate.

F164A

Subsection (4) is subject to F18sections 391A F19, 391B and 391C.

5

When a supervisory notice takes effect, the F13regulator giving the notice must publish such information about the matter to which the notice relates as it considers appropriate.

F45A

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)).

F56

The FCA may not publish information under this section if, in its opinion, publication of the information would be—

a

unfair to the person with respect to whom the action was taken (or was proposed to be taken),

C21b

prejudicial to the interests of consumers, or

c

detrimental to the stability of the UK financial system.

6A

The PRA may not publish information under this section if, in its opinion, publication of the information would be—

a

unfair to the person with respect to whom the action was taken (or was proposed to be taken),

b

prejudicial to the safety and soundness of PRA-authorised persons, or

c

in a case where section 2C applies, prejudicial to securing the appropriate degree of protection for policyholders.

C37

Information is to be published under this section in such manner as the F9regulator considers appropriate.

F37A

Where F10a 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.

7B

A requirement falls within this subsection if it is imposed—

F21a

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F21b

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

c

by or under any provision made by or under this Act which implements the markets in financial instruments directive, or

d

by any directly applicable EU regulation made under the markets in financial instruments directive.

C5C23C228

For the purposes of determining when a supervisory notice takes effect, a matter to which the notice relates is open to review if—

C6a

the period during which any person may refer the matter to the Tribunal is still running;

C6b

the matter has been referred to the Tribunal but has not been dealt with;

C6c

the matter has been referred to the Tribunal and dealt with but the period during which an appeal may be brought against the Tribunal’s decision is still running; or

C6d

such an appeal has been brought but has not been determined.

F178A

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).

F208B

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).

F228C

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).

9

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

10

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

C7F211

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