Background here.

For the purposes of this question, significant regulatory action includes, but is not necessarily limited to:

• The issuance of a public Official Warning (the existence of a report is not sufficient, the term "Official Warning" must be used in a statement or report by the CC);

• Involuntary removal of, or appointment of, an EVF trustee (voluntary resignation or appointments do not count);

• Disqualification of an EVF trustee from serving as a charity trustee or senior manager for a period of time (this does include "voluntary" undertakings not to serve in these roles);

• Appointment of an Interim Manager for any length of time;

• Most other temporary protective powers, if they exceed 3 months' duration and are not clearly minor in scope;

• Almost all permanent protective powers; and

• An order directing the winding up of EVF UK's affairs.

See this document for more information about the CC's regulatory powers, and ask if this description is unclear on what I consider to be a "significant" regulatory action. I do not intend to defer resolving the market pending any appeals outside the CC.