DEPP Decision Procedure and Penalties Manual

This manual sets out the:

• FCA’s decision making procedures for decisions that involve issuing of statutory notices, these involve warning notices, decision notices and supervisory notices;
• FCA’s policy with respect to the imposition of penalties;
• FCA’s policy with respect to the conduct of interviews by investigators appointed in response to a request from an overseas regulator; and
• FCA’s approach to publishing information about firms under investigation.

There are a number of notices that can be given and these are set out in the table below:

Decisions on whether to give a statutory notice will be taken by a “decision maker”. “Decision Makers” will either be “FCA staff” or the “Regulatory Decisions Committee” (RDC). The RDC is a committee of the FCA Board. It is, however, separate from the FCA’s executive management structure and apart from the Chairman, none of the members are employees of the FCA.