Part VIIIProvisions relating to market abuse

Procedure

127 Decision notices and right to refer to Tribunal.

F1(1)

If the FCA decides—

(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);

(f)

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

it must give the person a decision notice.

(2)

A decision notice about the imposition of a penalty F2under section 123 must state the amount of the penalty.

(3)

A decision notice about the publication of a statement F3under section 123 must set out the terms of the statement.

F4(3A)

A decision notice about the imposition of a prohibition under section 123A must set out the terms of the prohibition.

(3B)

A decision notice about the imposition of a suspension or restriction under section 123B must state the period for which the suspension or restriction is to have effect.

F5(4)

If the FCA decides—

(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 prohibition on an individual under section 123A; or

(d)

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

that person may refer the matter to the Tribunal.