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Financial Services and Markets Act 2000

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Changes over time for: Section 67

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Version Superseded: 01/04/2013

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Point in time view as at 08/06/2010. This version of this provision has been superseded. Help about Status

Changes to legislation:

Financial Services and Markets Act 2000, Section 67 is up to date with all changes known to be in force on or before 10 March 2025. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations. Help about Changes to Legislation

67 Disciplinary measures: procedure and right to refer to Tribunal.U.K.

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(1)If the Authority proposes to take action against a person under section 66, it must give him a warning notice[F1; and if it proposes to take action under subsection (3)(aa) or (ab) of that section, it must also give each of the other interested parties a warning notice.]

(2)A warning notice about a proposal to impose a penalty must state the amount of the penalty.

[F2(2A)A warning notice about a proposal—

(a)to suspend an approval, or

(b)to impose a restriction in relation to the performance of a function,

must state the period for which the suspension or restriction is to have effect.]

(3)A warning notice about a proposal to publish a statement must set out the terms of the statement.

(4)If the Authority decides to take action against a person under section 66, it must give him a decision notice[F3; and if it decides to take action under subsection (3)(aa) or (ab) of that section, it must also give each of the other interested parties a decision notice.]

(5)A decision notice about the imposition of a penalty must state the amount of the penalty.

[F4(5A)A decision notice about—

(a)the suspension of an approval, or

(b)the imposition of a restriction in relation to the performance of a function,

must state the period for which the suspension or restriction is to have effect.]

(6)A decision notice about the publication of a statement must set out the terms of the statement.

(7)If the Authority decides to take action against a person under section 66, he may refer the matter to the Tribunal[F5; and if the Authority decides to take action under section 66(3)(aa) or (ab), each of the other interested parties may also refer the matter to the Tribunal.]

[F6(8)Approval” means an approval given under section 59.

(9)Other interested parties”, in relation to an approved person (“A”), are—

(a)the person on whose application the approval was given (“B”); and

(b)the person by whom A's services are retained, if not B.

The reference in this subsection to an approved person has the same meaning as in section 64.]

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