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 [F2 or decision] made under the markets in financial instruments directive [F3 or the UCITS directive],] it may impose on him a penalty, in respect of the contravention, of such amount as it considers appropriate.

(2) F4 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(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

F2 Words in s. 206(1) inserted (1.7.2011) by The Undertakings for Collective Investment in Transferable Securities Regulations 2011 (S.I. 2011/1613), reg. 2(11)(a)

F3 Words in s. 206(1) inserted (1.7.2011) by The Undertakings for Collective Investment in Transferable Securities Regulations 2011 (S.I. 2011/1613), reg. 2(11)(b)

F4 S. 206(2) omitted (8.6.2010) by virtue of Financial Services Act 2010 (c. 28), ss. 10, 26(2)

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S. 206 modified (1.12.2001) by S.I. 2001/2657, arts. 1(1), 8 (which was revoked (8.10.2001) by S.I. 2001/3083, arts. 1(2), 23); S.I. 2001/3538, art. 2(1)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