(1) Paragraph (2) applies where the FCA -

(a) has made an order under regulation 4(2), (3) or (5),

(b) has imposed a penalty or published a statement under regulation 6, or

(c) has imposed a penalty or published a statement under Part 14 of the Act as applied by paragraph 7 of Schedule 2.

(2) The FCA may -

(a) issue a direct communication to the retail investor concerned, giving the investor information about the sanction, and informing the investor where to lodge complaints or submit claims for redress; or

(b) require the PRIIP manufacturer or person advising on, or selling, the PRIIP to issue such a communication to any retail investors concerned specified by the FCA or to retail investors of a description specified by the FCA.