Financial Services and Markets Act 2000

126 Warning notices.U.K.

This section has no associated Explanatory Notes

[F1(1)If the FCA proposes—

(a)to impose a penalty on a person under section 123(2);

(b)to publish a statement censuring a person under section 123(3);

(c)to impose a temporary prohibition on an individual under section 123A(2)(a);

(d)to impose a temporary prohibition on an individual under section 123A(2)(b);

(e)to impose a permanent prohibition on an individual under section 123A(3); or

(f)to impose a suspension or restriction in relation to a person under section 123B;

it must give the person a warning notice.]

(2)A warning notice about a proposal to impose a penalty [F2under section 123] must state the amount of the proposed penalty.

(3)A warning notice about a proposal to publish a statement [F3under section 123] must set out the terms of the proposed statement.

[F4(4)A warning notice about a proposal to impose a prohibition under section 123A must set out the terms of the proposed prohibition.

(5)A warning notice about a proposal to impose a suspension or restriction under section 123B must state the period for which the suspension or restriction is to have effect.]

Textual Amendments