GENE 10.8.1 Application of Part 10.8

(1) This Part applies if a person fails to comply with a written requirement by the Regulatory Authority that specifies:
(a) an action that the firm is to take; and
(b) a date by which the action is to be taken.
Example

A failure to comply with a requirement to take an action under a risk mitigation program.
(2) For subrule (1), a person fails to comply with a requirement if the person:
(a) does not take the specified action by the specified date; or
(b) purports to take the action but does so in a way that the authority regards as inadequate.
Inserted by QFCRA RM/2017-3 (as from 1st April 2017)
Amended by QFCRA RM/2020-6 (as from 15th October 2020).