Regulation 9 Statement of policy: procedureI1

United Kingdom

(1)

Before the FCA issues a statement under regulation 8, the FCA must publish a draft of the proposed statement in the way appearing to the FCA to be best calculated to bring it to the attention of the public.

(2)

The draft must be accompanied by a notice that specifies the time within which representations about the proposal may be made to the FCA.

(3)

Before issuing the proposed statement the FCA must have regard to any representations made in accordance with paragraph (2).

(4)

If the FCA issues the proposed statement it must publish an account, in general terms, of—

(a)

any representations made to it in accordance with paragraph (2), and

(b)

its response to them.

(5)

If the statement differs from the draft published under paragraph (1) in a way which is, in the opinion of the FCA, significant, the FCA must (in addition to complying with paragraph (4)) publish details of the difference.

(6)

The FCA may charge a reasonable fee for providing a F1person with a copy of a draft published by it under paragraph (1).

(7)

This regulation also applies to a proposal to alter or replace a statement.

Annotations

Textual amendments

F1: Word in reg. 9(6) substituted (31.12.2020 immediately before IP completion day) by The Securities Financing Transactions, Securitisation and Miscellaneous Amendments (EU Exit) Regulations 2020 (S.I. 2020/1385), regs. 1(4), 50(2)(c)

Commencement

I1: Reg. 9 in force at 31.12.2020 on IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 1(3)

Notes on the whole SI

Textual amendments

F1: Regulations revoked (1.1.2024 for the revocation of reg. 3(3)) by Financial Services and Markets Act 2023 (c. 29), s. 86(3), Sch. 1 Pt. 2 (with s. 1(4)); S.I. 2023/779, reg. 5(c)(iii)