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Financial Services and Markets Act 2000
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Changes over time for: Section 123
Version Superseded: 29/06/2017
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[F1123 Power to impose penalties or issue censureU.K.
This section has no associated Explanatory Notes
(1)The FCA may exercise its power under subsection (2) if it is satisfied that—
(a)a person has contravened Article 14 (prohibition of insider dealing and of unlawful disclosure of inside information) or Article 15 (prohibition of market manipulation) of the market abuse regulation;
(b)a person has contravened, or been knowingly concerned in the contravention of—
(i)a provision of the market abuse regulation other than Article 14 or 15 of that regulation; or
(ii)a provision of a supplementary EU regulation; or
(c)a person other than an authorised person has contravened any requirement—
(i)imposed on that person under section 122A, 122B, 122C, 122G, 122H, 122I, 123A or 123B; or
(ii)relating to the market abuse regulation or any supplementary EU regulation imposed on that person under Part 11.
(2)The FCA’s power under this subsection is a power to impose a penalty of such amount as it considers appropriate on the person.
(3)The FCA may, instead of imposing a penalty on a person, publish a statement censuring the person.]
Textual Amendments
F1Ss. 123-123C and cross-heading substituted for s. 123 and cross-heading (3.7.2016) by The Financial Services and Markets Act 2000 (Market Abuse) Regulations 2016 (S.I. 2016/680), regs. 1, 9(5)
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