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Financial Services and Markets Act 2000

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[F1143XProcedure for disciplinary measuresU.K.

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(1)If the FCA proposes to take action against a person under section 143W(2), (3) or (5) it must give the person a warning notice.

(2)A warning notice about a proposal to impose a penalty must state the amount of the penalty.

(3)A warning notice about a proposal to publish a statement must set out the terms of the statement.

(4)A warning notice about a proposal to impose a restriction under section 143W(5) must state—

(a)the terms of the restriction, and

(b)the period for which the restriction is to have effect.

(5)If the FCA decides to take action against a person under section 143W(2), (3) or (5) it must give the person a decision notice.

(6)A decision notice about the imposition of a penalty must state the amount of the penalty.

(7)A decision notice about the publication of a statement must state the terms of the statement.

(8)After the statement is published, the FCA must send a copy of the statement to—

(a)the person in respect of whom it is made, and

(b)any person to whom a copy of the decision notice was given under section 393(4).

(9)A decision notice about the imposition of a restriction under section 143W(5) must state—

(a)the terms of the restriction, and

(b)the period for which the restriction is to have effect.

(10)If the FCA decides to take action against a person under section 143W(2), (3) or (5), the person may refer the matter to the Tribunal.

(11)If the FCA decides to vary or cancel a restriction under section 143W(6), it must give written notice of its decision to the applicant.]

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