DEPP 2 Annex 2 Supervisory notices
You are viewing DEPP 2 Annex 2 Supervisory notices as of . DEPP 2 Annex 2 Supervisory notices was last updated on 06/04/2026.
DEPP 2 Annex 2 Supervisory notices
06/04/2026
| Section of the Act | Description | Handbook reference | Decision maker |
|---|---|---|---|
| 55XA(1)(a) and 55XA(1)(b) | when the FCA is deciding to grant an application for a Part 4A permission to carry on the regulated activity specified in article 63S of the Regulated Activities Order with a limitation or a requirement which was not applied for, or with a narrower or wider description of regulated activity than that applied for | See DEPP 2.5.18G(5) | |
| 55XA(1)(c) and 55XA(1)(d) | when the FCA is deciding to grant an application to vary a firm’s Part 4A permission to carry on the regulated activity specified in article 63S of the Regulated Activities Order but, other than as part of the application, to restrict the Part 4A permission either by imposing a limitation or requirement which was not applied for or by specifying a narrower or wider description of regulated activity than that applied for | See DEPP 2.5.18G(5) | |
| 55XA(1)(e) | when the FCA is deciding to refuse an application for a Part 4A permission to carry on the regulated activity specified in article 63S of the Regulated Activities Order | See DEPP 2.5.18G(5) | |
| 55XA(1)(f) | when the FCA is deciding to refuse an application to vary a firm’s Part 4A permission to carry on the regulated activity specified in article 63S of the Regulated Activities Order | Executive procedures See DEPP 2.5.18G(5) | |
55Y(4) 55Y(7) 55Y(8)(b) | when the FCA is proposing to exercise, is deciding to exercise or is, with immediate effect, exercising its own-initiative variation power to vary a firm’s Part 4A permission or its power to vary the terms of a firm’s approver permission or is deciding, after considering any representations made by the firm, not to rescind a variation of either sort | See DEPP 2.5.7 G | |
63ZC(4) 63ZC(8) 63ZC(9)(b) | when the FCA is exercising its power to vary, on its own initiative, an approval granted to an SMF manager | See DEPP 2.5.8AG and DEPP 2.5.8BG | |
| 71H(2), (3), (4), (9) or (11)(a) | where the FCA is proposing or deciding to impose or vary a requirement in relation to a director or senior executive under section 71B or 71C(2) or (8) or to appoint or vary the terms of appointment of a temporary manager under section 71C(1) | Executive procedures | |
55Y(4) 55Y(7) 55Y(8)(b) | when the FCA is exercising its own-initiative requirement power | See DEPP 2.5.7 G | |
| 71V | when the FCA proposes to give a relevant Part 5A direction, or gives such a direction with immediate effect, or exercises its own initiative to vary or revoke such a direction | Executive procedures | |
| 71X | when the FCA is deciding an application under section 71W to vary or revoke a relevant Part 5A direction | Executive procedures | |
| 78(2)/(5) | when the FCA is proposing to discontinue or discontinues the listing of a security | UKLR 21 | See DEPP 2.5.9G (4) and DEPP 2.5.10 G |
| 78(2)/(5) | when the FCA is proposing to suspend or suspends the listing of a security | UKLR 21 | Executive procedures |
| 78A(2)/(8)(b) | when the FCA discontinues or suspends the listing of a security on the application of the issuer of the security | UKLR 21 | Executive procedures |
| 87O(2)/(5) | when the FCA proposes to exercise any of the powers in sections 87JA, 87K, 87L or 87LA in relation to a person, or exercises any of those powers in relation to a person with immediate effect, or decides to maintain, vary or revoke its earlier decision | Executive procedures | |
| 88F(2)/(5)/(6)(b) | when the FCA is proposing or deciding to take action to suspend, limit or restrict a sponsor's approval under section 88E | Executive procedures | |
89V(2) 89V(5) 89 V(6)(b) | when the FCA is proposing or deciding to take action to suspend, limit or restrict a primary information provider's approval under section 89U | Executive procedures | |
| 122I | when the FCA is proposing to suspend or suspends trading in a financial instrument | DTR | Executive procedures |
137S(5) 137S(8)(a) | when the FCA gives a direction under section 137S | Executive procedures | |
S143U(2)(a) | When the FCA decides to grant an application for the variation or revocation of a prohibition order under S143N(1) of the Act | Executive procedures | |
S143X | When the FCA decides to vary or cancel a restriction under S143W(6) of the Act | RDC or executive procedures | |
| 191B(1) | when the FCA gives a restriction notice under section 191B | Executive procedures | |
| 197(3)/(6)/(7)(b) | [deleted] | ||
| 259(3)/(8)/ (9) (b) | when the FCA is exercising its power to give or, on its own initiative, to vary a direction to the manager and trustee of an AUT | COLL | Executive procedures |
| 261Z1 | when the FCA gives a direction under section 261X or section 261Z | COLL | Executive procedures |
| 268(3)/(7)(a) or (9)(a) (as a result of (8)(b)/(13)) | when the FCA is proposing or deciding to give or, on its own initiative, to vary a direction to the operator of a recognised scheme | COLL | Executive procedures |
| 271M | when the FCA gives a direction under section 271L | COLL | Executive procedures |
| 282 (3)/(6)/ (7)(b) | when the FCA is exercising its power to give a direction to an operator, trustee or depositary of a recognised scheme | COLL | Executive procedures |
| 301J(1) | when the FCA gives a restriction notice under section 301J | Executive procedures | |
| 321(2)/(5) | when the FCA is exercising its power to impose a requirement on a former underwriting member of Lloyd's | Executive procedures |
| OEIC Regulations reference | Description | Handbook reference | Decision maker |
|---|---|---|---|
| Regulation 27 | when the FCA is exercising its power to give or, on its own initiative, to vary a direction to an ICVC and its depositary | COLL | Executive procedures |
| Payment Services Regulations | Description | Handbook reference | Decision maker |
|---|---|---|---|
| 12(6), 12(9), 12(10)(b), 15 and 19 | when the FCA is exercising its powers to vary a person's authorisation on its own initiative | (Note 1) | |
Notes: (1) FCA staff under executive procedures will take all decisions to give a notice exercising the FCA's own initiative power to vary a person’s authorisation, including if the action involves: (a) removing a type of activity from an authorisation or registration; or (b) refusing an application to include a type of activity in an authorisation or registration; or (c) restricting a person from taking on new business, dealing with a particular category of customer or refusing an application to vary or cancel such a restriction; or d) imposing or varying a capital requirement, or refusing an application to vary or cancel such a requirement.
| |||
| Alternative Investment Fund Managers Regulations 2013 | Description | Handbook reference | Decision maker |
|---|---|---|---|
| Regulation 22(4) | where the FCA is exercising its power on its own initiative to give or vary a direction under regulation 22(1) to a small registered UK AIFM, a SEF manager or RVECA manager | See DEPP 2.5.7 G to DEPP 2.5.8 G | |
| Regulation 22(4) | [deleted] |
| The Financial Services Act 2012 (Consumer Credit) Order 2013 [deleted] | |||
|---|---|---|---|
| The Immigration Act 2014 (Bank Account) Regulations 2014 | Description | Handbook reference | Decision maker |
| Regulation 24 and 25 | where the FCA is proposing or deciding to publish a statement (under regulations 15 or 16) or impose a financial penalty (under regulation 17) or impose a restriction on permission (under regulation 18) or suspend or restrict an approval (under regulation 19)* | RDC or executive procedures |
| The Mortgage Credit Directive Order 2015 | Description | Handbook reference | Decision maker |
| Article 19(6) | when the FCA is exercising its own-initiative power to impose a direction | Executive procedures See DEPP 2.5.7G and DEPP 2.5.7AG |
| The Payment Accounts Regulations 2015 | Description | Handbook reference | Decision maker |
|---|---|---|---|
| Regulation 30 | when the FCA is exercising the power to impose a direction | See DEPP 2.5.17G | |
| Markets in Financial Instruments Regulations 2017 | Description | Handbook reference | Decision maker |
|---|---|---|---|
| Regulation 12(2) | when the FCA is exercising its power of intervention in respect of a third country firm | (see DEPP 2.5.7G and DEPP 2.5.7AG) | |
| Regulation 28(4) | when the FCA is imposing a limitation, restriction or requirement under regulation 28(4) | (see DEPP 2.5.18G) | |
| Regulation 36(4) | when the FCA is imposing a requirement under regulation 36 | (see DEPP 2.5.18G) | |
| Regulations 40(3) and 40(6) | when the FCA is proposing or deciding to impose a requirement, or deciding to not rescind the imposition of a requirement that has already taken effect under regulation 40 | Executive procedures |
| Data Reporting Services Regulations 2017 | Description | Handbook reference | Decision maker |
|---|---|---|---|
| Regulation 22(6) | when the FCA is imposing a limitation or other restriction under regulation 22 | Executive procedures | |
Packaged Retail and Insurance-based Investment Products Regulations 2017 Applicable for decisions made under the Packaged Retail and Insurance-based Investments Products Regulations 2017 (SI 2017/1127) relating to things done or omitted before the main commencement date of the Composite Consumer Investments Regulations | Description | Handbook reference | Decision maker |
|---|---|---|---|
| Regulations 9(3)(a) and (c) | when the FCA is proposing to make an order under regulation 4 or makes an order under regulation 4 with immediate effect | RDC | |
| Regulations 9(3)(b) and (d) | when the FCA is proposing to increase the period of a suspension under regulation 5(2) or increases the period of a suspension under regulation 5(2) with immediate effect | RDC | |
| Regulation 9(6)(a) | when the FCA is deciding to make or vary an order made under regulations 4 or 5(2) in the way proposed | RDC | |
| Regulation 9(6)(b) | when the FCA is deciding not to revoke an order made under regulations 4 and 5(2) or not to rescind the variation of an order made under regulations 4 and 5(2) | RDC | |
| Regulation 9(7)(b) | when the FCA is deciding to make an order under regulations 4 or 5(2) in different terms or to vary an order made under regulations 4 or 5(2) in a different way | RDC |
| UK Benchmarks Regulations 2018 | Description | Handbook reference | Decision maker |
|---|---|---|---|
| Regulation 6(6) | when the FCA is exercising its power under regulation 6(2) to impose, vary or cancel a requirement on its own initiative | Executive procedures |
| UK Securitisation Regulations | Description | Handbook reference | Decision maker |
|---|---|---|---|
| Regulation 15(3) and (6) | when the FCA is exercising its powers under regulation 14 to temporarily withdraw authorisation, vary the period for which a temporary withdrawal has effect or revoke the temporary withdrawal to provide a third-party verification service | Executive procedures | |
| Regulation 22(3) and (6) | when the FCA is exercising its powers under regulation 21 to impose a temporary ban, vary the period for which a temporary ban has effect or revoke a temporary ban to provide simple, transparent and standardised (STS) notifications | Executive procedures |
| Securitisation Regulations 2024 (SI 2024/102) | Description | Handbook reference | Decision maker |
|---|---|---|---|
| Regulation 7(2) | when the FCA is exercising its powers under regulation 6(1) to give directions under section 71O of the Act imposing on a person or a description of persons such requirements as the FCA considers appropriate in relation to the carrying out of activities specified under regulation 4 | Executive procedures | |
| Regulation 11(2) | when the FCA is exercising its powers under regulation 10(3)(a) to remove a transaction from the list of simple transparent and standardised securitisations where the FCA does not consider the securitisation to be an STS securitisation | Executive procedures | |
| Regulation 30(3) and 30(6)(a), (d) or (e) | when the FCA is exercising its powers under regulation 29(1) to temporarily withdraw authorisation, under regulation 29(2)(a) to revoke the temporary withdrawal to provide a third-party verification service or under regulation 29(2)(b) to vary the period for which a temporary withdrawal has effect | Executive procedures | |
| Regulation 40(3) or (6)(a), (d) or (e) | when the FCA is exercising its powers under regulation 39(1) to impose a temporary ban under regulation 39(2)(b) to vary the period for which a temporary ban has effect or under regulation 39(2)(a) to revoke a temporary ban to provide simple transparent and standardised notifications | Executive procedures |
| CRA Regulation | Description | Handbook reference | Decision maker |
|---|---|---|---|
| Article 18(2) and 18(10) | when the FCA is exercising its power under article 16 to refuse an application for registration of a credit rating agency | (see DEPP 2.5.18G(6)) | |
| Article 18(2) and 18(10) | when the FCA is exercising its power under article 17 to refuse an application for registration of a group of credit rating agencies | (see DEPP 2.5.18G(6)) | |
| Article 18(2) and 18(10) | when the FCA is exercising its power under article 20(1) and 20(2) to withdraw the registration of a credit rating agency on its own initiative | (see DEPP 2.5.18G(6)) | |
| Article 18(2) and 18(10) | when the FCA is exercising its power under article 20(3) to refuse an application made by a credit rating agency to withdraw its registration | (see DEPP 2.5.18G(6)) | |
| Article 18(2) and 18(10) | when the FCA is exercising its power under article 24(1) to impose a direction to temporarily prohibit a credit rating agency from issuing credit ratings or to suspend the use of credit ratings issued by a credit rating agency | (see DEPP 2.5.18G(6)) |
| Trade Repositories (EU Exit) Regulations | Description | Handbook reference | Decision maker |
|---|---|---|---|
| Article 71a(6) and 71a(10) | when the FCA is exercising its power under article 58 to refuse an application for registration of a trade repository | Executive procedures(see DEPP 2.5.18G(7)) | |
| Article 71a(6) and 71a(10) | when the FCA is exercising its power under article 71(1) or 71(2) to withdraw the registration of a trade repository on its own initiative | Executive procedures(see DEPP 2.5.18G(7)) | |
| Article 71a(6) and 71a(10) | when the FCA is exercising its power under article 71(3) to refuse an application made by a trade repository to withdraw its registration | Executive procedures(see DEPP 2.5.18G(7)) |
| Securities Financing Transactions Regulation | Description | Handbook reference | Decision maker |
|---|---|---|---|
| Article 10a(6)(a) and 10a(11)(a) | when the FCA is exercising its power under article 7 of the Securities Financing Transactions Regulation to refuse an application for registration of a trade repository | (see DEPP 2.5.18G(9)) | |
| Article 10a(6)(b) and 10a(11)(b) | when the FCA is exercising its power to withdraw the registration of a trade repository on its own initiative under article 10(1) or 10(2) | (see DEPP 2.5.18G(9)) | |
| Article 10a(6)(c) and 10a(11)(c) | when the FCA is exercising its power to refuse an application made by a trade repository to withdraw its registration under article 10(3) | (see DEPP 2.5.18G(9)) |
| The Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 | Description | Handbook reference | Decision maker |
|---|---|---|---|
| Regulation 74C(5) | When the FCA is exercising its own initiative powers to impose, vary or rescind a direction. | Executive procedures |
| The Public Offers and Admissions to Trading Regulations 2024 | Description | Handbook reference | Decision maker |
|---|---|---|---|
| Regulation 38 | when the FCA proposes to exercise any of the powers in regulations 34 to 37 in relation to a person, or exercises any of those powers in relation to a person with immediate effect, or decides to maintain, vary or revoke its earlier decision | Executive procedures |