The Financial Services and Markets Act 2000 (Transitional Provisions) (Partly Completed Procedures) Order 2001 No. 3592

PART VI U.K. PROCEEDINGS OF RECOGNISED SELF-REGULATING ORGANISATIONS

CHAPTER II U.K. EXPEDITED DECISION NOTICES, ETC.

Members of self-regulating organisations U.K.

Financial penalty U.K.

69.—(1) This article applies where—

(a) the Authority proposes to impose a penalty on a person (“P”) under section 206, pursuant to the power conferred on it by article 8 of the Civil Remedies Order;

(b) the reasons for which the Authority proposes to take action relate to or arise from the same failure, misconduct or other contravention which was the subject of incomplete disciplinary proceedings to which P was subject immediately before commencement;

(c) the relevant SRO in relation to those incomplete disciplinary proceedings would have had power to impose a penalty on P corresponding to the power of the Authority under section 206 at the conclusion of those proceedings;

(d) the expedited decision conditions are satisfied.

(2) In a case where this article applies, the Authority may give a decision notice under section 208(1)(b) without having given a warning notice.

Commencement Information

I1 Art. 69 in force at 1.12.2001, see art. 1(2)