AI Summary of 388. Decision notices
A decision notice must be documented in writing and include the regulator's rationale for the action proposed. It should clarify if section 394 applies and outline its implications, including any secondary materials accessible to the concerned individual.
Furthermore, the notice must outline the individual’s right to appeal to the Tribunal and any relevant procedures. If a warning notice preceded the decision, the action must relate to the same part of the regulation. Additionally, the regulator may issue a further decision notice for different actions related to the same matter, contingent upon the recipient's consent, preserving their right to appeal to the Tribunal.
388. Decision notices
(1) A decision notice must -
(a) be in writing;
(b) give the reasons of the regulator giving the notice ("the regulator concerned") for the decision to take the action to which the notice relates;
(c) state whether section 394 applies;
(d) 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; and
(e) give an indication of -
(i) any right to have the matter referred to the Tribunal which is given by this Act; and
(ii) the procedure on such a reference.
(1A) Where the PRA is the regulator concerned and the FCA has decided 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 decision notice given by the PRA must -
(a) state that fact, and