Powers and Procedures Guidance September 2024

We originally published this guidance in 2015, with a revised version published in 2020 and now, following consultation, an updated version to reflect recent developments in our processes and structure.

This latest version of the PPG applies from 20 September and the previous version will cease to apply.

This guidance explains:

• our role and our ways of working.
• the FSBRA legal and regulatory framework under which we operate.
• our powers to take regulatory action under FSBRA, how we will decide what, if any, action to take, what processes and procedures we will follow, and how a party can appeal against regulatory action.
• our powers to take enforcement action under FSBRA where we consider that a potential compliance failure has occurred, how we will decide what, if any, enforcement action to take, what processes and procedures we will follow, and how a party can appeal against a decision to impose a penalty or publish details of any compliance failure.