Regulation 27 Decision noticeI1

United Kingdom

(1)

If, having considered any representations made in response to the warning notice, the FCA decides to—

(a)

publish a statement under regulation 28 (whether or not in the terms proposed); or

(b)

impose a penalty under regulation 29 (whether or not of the amount proposed);

it must without delay give the trade repository concerned a decision notice.

(2)

In case of a statement, the decision notice must set out the terms of the statement.

(3)

In the case of a penalty, the decision notice must state the amount of the penalty.

(4)

If the FCA decides to —

(a)

publish a statement in respect of a trade repository under regulation 28; or

(b)

impose a penalty on a trade repository under regulation 29;

the trade repository may refer the matter to the Tribunal.

(5)

After a statement under regulation 28 is published, the FCA must send a copy of it to the trade repository concerned and to any person to whom a copy of the decision notice was given under section 393(4) of the FSMA (third party rights) (as applied by regulation 37).

Annotations

Commencement

I1: Reg. 27 in force at 31.12.2020 on IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 1

Notes on Chapter 2

Modifications

C1: Pt. 4 Ch. 2 applied (27.11.2020) by The Securities Financing Transactions, Securitisation and Miscellaneous Amendments (EU Exit) Regulations 2020 (S.I. 2020/1385), regs. 1(2), 28(a)