FSMT SUPERVISORY NOTICE – Immediate effect – Application for suspension of immediate effect – Credit Union – Failure to maintain positive capital in breach of FSA Rule CRED 8.3.1 R – Notice required Credit Union to make no new loans, redemptions of shares or repayments of deposits – Whether requirements in Supervisory Notice should be suspended pending hearing of reference – No – Application dismissed
Citations:
[2002] UKFSM FSM029
Links:
Financial Services
Updated: 15 July 2022; Ref: scu.268208