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Home > Prudential Regulation Authority > Assessing and determining a cancellation
 

Assessing and determining a cancellation

Cancellation | Assessing and determining a cancellation
 

Assessing

When an application to cancel has been submitted, it will be assigned to a case officer. The case officer will contact the firm and keep the firm updated throughout the assessment period.  The PRA will lead the assessment of an application to cancel for all PRA-authorised firms. The PRA must consult with the FCA, who will assess the firm’s application to cancel against its own operational objectives.

Determining

If the decision is to grant the application, the PRA will inform the firm. If the decision is that the application is not successful and the PRA and/or the FCA propose to refuse it, the PRA will inform the applicant and outline the procedure and the various options for challenging the decision open to the applicant.

 

 

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