[F1143XProcedure for disciplinary measuresU.K.
(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.]
Textual Amendments
F1Pt. 9C inserted (1.7.2021) by Financial Services Act 2021 (c. 22), s. 49(5), Sch. 2 para. 1; S.I. 2021/671, reg. 4(b)