14.—(1) The FCA may give a direction in writing to a self-regulatory organisation.
(2) A direction may be given for the purpose of—
(a)remedying a failure to comply with a supervision requirement;
(b)preventing a failure to comply, or continued non-compliance, with a supervision requirement.
(3) A direction may require or prohibit the taking of specified action.
(4) In deciding whether to give a direction to a self-regulatory organisation, the FCA must consider whether at the time the self-regulatory organisation followed—
(a)any relevant guidance which was at the time issued by the FCA;
F1(b). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F1Reg. 14(4)(b) omitted (31.12.2020) by virtue of The Money Laundering and Transfer of Funds (Information) (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/253), regs. 1(2), 13(b) (with savings in S.I. 2019/680, reg. 11); 2020 c. 1, Sch. 5 para. 1(1)