[234D Reference by scheme operator or regulated person]
[234D Reference by scheme operator or regulated person]

[(1)     A relevant person may make a reference to the FCA where it appears to that person that either the first set of conditions or the second set of conditions are satisfied.

(2)     Each of the following is a “relevant person”—

(a)     the scheme operator;

(b)     a regulated person.

(3)     The first set of conditions is—

(a)     that there may have been—

(i)     in the case of a reference by the scheme operator, a regular failure by one or more regulated persons to comply with requirements applicable to the carrying on by them of any activity, or

(ii)     in the case of a reference by a regulated person, a regular failure by that person to comply with requirements applicable to the carrying on by that person of any ac

Popular documents