[(1) The FCA must consult the PRA before taking a qualifying step in relation to a person who—
(a) is a PRA-authorised person, or
(b) has a qualifying relationship with a PRA-authorised person.
(2) The PRA must consult the FCA before taking a qualifying step.
(3) In this section any reference to the taking of a qualifying step is a reference to—
(a) the giving of a warning notice or decision notice under section 63B (performance of controlled functions without approval),
(b) the giving of a warning notice or decision notice under section 67 (disciplinary powers in relation to approved person),
(c) . . .
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BREXIT: UK is leaving EU on Exit Day (as defined in the European Union (Withdrawal) Act 2018). This has an impact on this Practice Note. For further guidance on the impact of Brexit on e-money requirements, see Practice Note: Impact of Brexit: Payment services and electronic money directives—quick
This Practice Note explains certain common financial covenants used in commercial finance transactions including:•minimum net worth test•gearing ratio•leverage ratio (or debt to equity ratio)•current ratio (or acid test ratio)•cashflow ratio•interest cover ratio, and•loan to value ratioIt explains:
This Practice Note identifies the main torts (bar negligence and nuisance, which are covered elsewhere in our related content) and their key characteristics. Specifically:•trespass to land•trespass to the person•privacy/defamation•liability for animals•employers' liability•product
Tipping off and prejudicing an investigationIt would undermine the benefit to the authorities if, a suspicious activity report (SAR) having been made, the alleged offender were to be made aware of the interest in their activities so that they could take steps to cover up their misdeeds or disappear.
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