Financial Services and Markets Act 2000

206 Financial penalties. U.K.

(1) If the Authority considers that an authorised person has contravened a requirement imposed on him by or under this Act, [F1 or by any directly applicable Community regulation made under the markets in financial instruments directive,] it may impose on him a penalty, in respect of the contravention, of such amount as it considers appropriate.

(2) The Authority may not in respect of any contravention both require a person to pay a penalty under this section and withdraw his authorisation under section 33.

(3) A penalty under this section is payable to the Authority.

Textual Amendments

F1 Words in s. 206(1) inserted (1.4.2007 for certain purposes and 1.11.2007 otherwise) by The Financial Services and Markets Act 2000 (Markets in Financial Instruments) Regulations 2007 (S.I. 2007/126), regs. 1(2), 3(5), Sch. 5 para. 11

Modifications etc. (not altering text)

C1 S. 206 excluded (1.12.2001) by S.I. 2001/3592, arts. 1(2), 107(1) (with art. 23(2))

S. 206 restricted (1.12.2001) by S.I. 2001/3592, arts. 1(2), 60(2) (with art. 23(2))

S. 206 modified (1.12.2001) by S.I. 2001/2657, arts. 1(1), 8 (which was revoked (8.10.2001) by S.I. 2001/3083, arts. 1(2), 23); S.I. 2001/3538, art. 2(1)

S. 206 modified (1.12.2001) by S.I. 2001/3083, arts. 1(2), 8; S.I. 2001/3538, art. 2(1)

C2 S. 206 modified (18.7.2002 for certain purposes and 21.8.2002 otherwise) by The Electronic Commerce Directive (Financial Services and Markets) Regulations 2002 (S.I. 2002/1775), regs. 1, 12(1)