FCA—Regulatory Decisions Committee
FCA—Regulatory Decisions Committee

The following Financial Services practice note provides comprehensive and up to date legal information covering:

  • FCA—Regulatory Decisions Committee
  • The Regulatory Decisions Committee
  • Procedure for issuing statutory notices
  • Written or oral representations
  • The decision
  • Third party rights and access to FCA material
  • Publication of notices and other publicity

BREXIT: 11pm (GMT) on 31 December 2020 (‘IP completion day’) marked the end of the Brexit transition/implementation period entered into following the UK’s withdrawal from the EU. Following IP completion day, key transitional arrangements come to an end and significant changes begin to take effect across the UK’s legal regime. This document contains guidance on subjects impacted by these changes. Before continuing your research, see: Brexit and financial services: materials on the post-Brexit UK/EU regulatory regime.

Lexis®PSL Financial Services FCA/PRA Enforcement Database: This incorporates detailed information on all substantive FCA and PRA Final Notices and, where available, Decision Notices from 2014 to 2020. The Database, available here, may be searched and filtered by rule breach, keyword, sector, date, seriousness, aggravating and mitigating factors, financial penalty, and other actions such as appeals.

The Regulatory Decisions Committee

The Regulatory Decisions Committee (RDC) is a committee of the Financial Conduct Authority's (FCA) Board. It is part of the FCA, exercises certain regulatory powers on behalf of the FCA, and is generally accountable to the FCA Board for its decisions. In particular, the RDC is the FCA’s decision maker for contested cases; it makes decisions relating to the exercise of the FCA's regulatory enforcement powers including:

  1. the warning notice procedure

  2. the decision notice procedure, and

  3. the supervisory notice procedure

The RDC procedure is not intended to duplicate the function of the

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