207 Proposal to take disciplinary measures.U.K.
(1)If [F1a regulator] proposes—
(a)to publish a statement in respect of an authorised person (under section 205), F2. . .
(b)to impose a penalty on an authorised person (under section 206), [F3 or
(c)to suspend a permission of an authorised person or impose a restriction in relation to the carrying on of a regulated activity by an authorised person (under section 206A),]
it must give the authorised person a warning notice.
(2)A warning notice about a proposal to publish a statement must set out the terms of the statement.
(3)A warning notice about a proposal to impose a penalty, must state the amount of the penalty.
[F4(4)A warning notice about a proposal to suspend a permission or impose a restriction must state the period for which the suspension or restriction is to have effect.]
Textual Amendments
F1Words in s. 207(1) substituted (1.4.2013) by Financial Services Act 2012 (c. 21), s. 122(3), Sch. 9 para. 14 (with Sch. 20); S.I. 2013/423, art. 3, Sch.
F2Word in s. 207(1) omitted (8.6.2010) by virtue of Financial Services Act 2010 (c. 28), ss. 24(1), 26(2)(d)(e), Sch. 2 para. 18(2)
F3S. 207(1)(c) and preceding word inserted (8.6.2010) by Financial Services Act 2010 (c. 28), ss. 24(1), 26(2)(d)(e), Sch. 2 para. 18(2)
F4S. 207(4) inserted (8.6.2010) by Financial Services Act 2010 (c. 28), ss. 24(1), 26(2)(d)(e), Sch. 2 para. 18(3)
Modifications etc. (not altering text)
C1S. 207 excluded (1.12.2001) by S.I. 2001/3592, arts. 1(2), 61(5), 110(6) (with art. 23(2))
C2S. 207 modified (18.7.2002 for certain purposes and 21.8.2002 otherwise) by The Electronic Commerce Directive (Financial Services and Markets) Regulations 2002 (S.I. 2002/1775), regs. 1, 12(1)