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Financial Services and Markets Act 2000

Section 208: Decision notice

415.If having issued a warning notice, and heard any representations, the Authority decides at the end of the relevant period to proceed with the public statement or penalty, it must issue a decision notice.  This should also set out the terms of the proposed statement or the amount of the proposed fine (either of which may change in response to any representations made).

416.The authorised person has a right to have the matter referred to the Tribunal, in accordance with the provisions of Part IX of the Act.  No further action can be taken by the Authority during the period in which the person has the right to have the matter referred to the Tribunal or, where the matter has been referred, until the Tribunal hearing and any subsequent appeal have run their course.

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