387 Warning notices
387 Warning notices

(1)     A warning notice must—

(a)     state the action which the [regulator giving the notice (“the regulator concerned”)] proposes to take;

(b)     be in writing;

(c)     give reasons for the proposed action;

(d)     state whether section 394 applies; and

(e)     if that section applies, describe its effect and state whether any secondary material exists to which the person concerned must be allowed access under it.

[(1A)     Where the PRA is the regulator concerned and the FCA proposes to refuse consent for the purposes of section 55F, 55I or 59 or to give conditional consent as mentioned in section 55F(5)[, 55I(8) or 61(2D)], the

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