Paragraph 32A Supervision and enforcement of persons to whom paragraph 36 appliesF1F2
The following sub-paragraphs apply in relation to a person to whom paragraph 36 applies.
Sections 165, 166, 175 and 177 of the 2000 Act, as modified by paragraph 4 of Schedule 6 to the PSR 2017, apply as if the references to a payment service provider were to a person who is exempt from the prohibition in regulation 138(1) of those Regulations by virtue of paragraph 36.
If the FCA considers that a person—
has not notified the FCA in accordance with paragraph 27; or
has acted in a manner which the FCA considers contrary to the advancement of its objectives under the PSR 2017 or the 2018 Regulations,
the FCA may publish a statement to that effect.
The procedure in regulation 112 of the PSR 2017 applies to the publication of a statement under sub-paragraph (3) as if the references to regulation 110 were references to this paragraph.
Section 393(4) of the 2000 Act applies to notices issued in accordance with this paragraph in the same way as it applies to notices issued in accordance with regulation 53 in relation to the publication of statements under regulation 110 of the PSR 2017 by virtue of paragraph 10 of Schedule 6 to the PSR 2017.
The FCA may, if it considers it appropriate to do so, publish information provided under paragraph 27 in respect of a person.
Publication under sub-paragraph (6) is to be in such a manner as the regulator considers appropriate.
Annotations
Textual amendments
- F1
Sch. 3 Pts. 3, 4 inserted (1.3.2019) by The Financial Services Contracts (Transitional and Saving Provision) (EU Exit) Regulations 2019 (S.I. 2019/405), regs. 1(2), 10(3)
- F2
Sch. 3 paras. 32, 32A substituted for Sch. 3 para. 32 (6.9.2019) by The Financial Services (Electronic Money, Payment Services and Miscellaneous Amendments) (EU Exit) Regulations 2019 (S.I. 2019/1212), regs. 1(2), 7(15)