[(1) If the [FCA] finds that—
(a) an issuer of transferable securities,
(b) a person offering transferable securities to the public, or
(c) a person requesting the admission of transferable securities to trading on a regulated market,
is failing or has failed to comply with his obligations under an applicable provision, it may publish a statement to that effect.
(2) If the [FCA] proposes to publish a statement, it must give the person a warning notice setting out the terms of the proposed statement.
(3) If, after considering any representations made in response to the warning notice, the [FCA] decides to make the proposed statement, it must give the person a decision notice setting out the terms of the statement.
(4) “An applicable provision” means—
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