# The Securitisation Regulations 2023, Regulation 45: Consultation in relation to certain enforcement action


(1) The FCA must consult the PRA before giving a warning notice under regulation 43(1)(a), (b), (c), (e) or (f) or a decision notice under regulation 44(1)(a) (b), (c), (e) or (f) in relation to a person who—
(a) is a PRA-authorised person, or
(b) has a qualifying relationship with a PRA-authorised person.
(2) The FCA must consult the PRA before giving a warning notice under regulation 43(1)(d) or a decision notice under regulation 44(1)(d) if as a result of the prohibition in question an individual would be prohibited from performing a management function in relation to a PRA-authorised person.
(3) The PRA must consult the FCA before giving a warning notice under regulation 43(2).
(4) A person has a qualifying relationship with a PRA-authorised person for the purposes of this regulation if the person is a member of the PRA-authorised person’s immediate group.
(5) In this regulation “immediate group” has the meaning given in section 421ZA of FSMA 2000.

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Source: https://www.legislation.gov.uk/ukdsi/2023/9780348254242/regulation/45 (the official version)
Page: https://openlegislation.uk/draft-securitisation-regulations-2023/regulation-45
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.