A decision to determine an application for Part IV permission2, or an application for approval under the Financial Services and Markets Act 2000 Section 593, is taken in one of two ways4:
by internal staff procedures involving Financial Services Authority (FSA) staff at an appropriate level of seniority5, if the decision is to grant the application on the terms applied for6; or
by the FSA’s Regulatory Decisions Committee (RDC)7, in any other case8.
The decision on an application is taken by the RDC where FSA staff have recommended:
the refusal, or proposed refusal,
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