(1) This regulation applies in relation to the trading of transferable securities on a trading facility.

(2) If -

(a) the FCA has reasonable grounds for suspecting that an applicable provision has been contravened, and

(b) the securities have not yet been traded on the trading facility in question,

the FCA may require the person who proposes to trade the securities to suspend taking any action to implement the proposal for a period not exceeding 10 working days.

(3) If -

(a) the FCA has reasonable grounds for suspecting that an applicable provision has been contravened, and

(b) the securities have been traded on the trading facility in question,

the FCA may require the operator of the facility to suspend trading in the securities for a period not exceeding 10 working days.