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Financial Services and Markets Act 2000

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Financial Services and Markets Act 2000, Section 208 is up to date with all changes known to be in force on or before 09 February 2025. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations. Help about Changes to Legislation

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208 Decision notice.U.K.

This section has no associated Explanatory Notes

(1)If [F1a regulator] decides—

(a)to publish a statement under section [F2205(1)] (whether or not in the terms proposed), F3. . .

(b)to impose a penalty under section [F4206(1)] (whether or not of the amount proposed), [F5 or

(c)to suspend a permission or impose a restriction under section 206A (whether or not in the manner proposed),]

it must without delay give the authorised person concerned a decision notice.

[F6(1A)If the FCA decides—

(a)to publish a statement in respect of a person under section 205(2),

(b)to impose a penalty on a person under section 206(1A), or

(c)to impose a prohibition or restriction on a person under section 206B,

it must without delay give the person a decision notice.]

(2)In the case of a statement, the decision notice must set out the terms of the statement.

(3)In the case of a penalty, the decision notice must state the amount of the penalty.

[F7(3A)In the case of a suspension [F8, prohibition] or restriction, the decision notice must state the period for which the suspension [F8, prohibition] or restriction is to have effect.]

(4)If [F9a regulator] decides to—

(a)publish a statement in respect of an authorised person under section [F10205(1)], F11. . .

(b)impose a penalty on an authorised person under section [F12206(1)], [F13 or

(c)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,]

the authorised person may refer the matter to the Tribunal.

[F14(5)If the FCA decides to—

(a)publish a statement in respect of a person under section 205(2),

(b)impose a penalty on a person under section 206(1A), or

(c)impose a prohibition or restriction on a person under section 206B,

the person may refer the matter to the Tribunal.]

Textual Amendments

F1Words in s. 208(1) substituted (1.4.2013) by Financial Services Act 2012 (c. 21), s. 122(3), Sch. 9 para. 15 (with Sch. 20); S.I. 2013/423, art. 3, Sch.

F3Word in s. 208(1) omitted (8.6.2010) by virtue of Financial Services Act 2010 (c. 28), ss. 24(1), 26(2)(d)(e), Sch. 2 para. 19(2)

F5S. 208(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. 19(2)

F9Words in s. 208(4) substituted (1.4.2013) by Financial Services Act 2012 (c. 21), s. 122(3), Sch. 9 para. 15 (with Sch. 20); S.I. 2013/423, art. 3, Sch.

F11Word in s. 208(4) omitted (8.6.2010) by virtue of Financial Services Act 2010 (c. 28), ss. 24(1), 26(2)(d)(e), Sch. 2 para. 19(4)

F13S. 208(4)(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. 19(4)

Modifications etc. (not altering text)

C1Pt. 14 applied (with modifications) (26.7.2013 for specified purposes, 1.4.2014 in so far as not already in force) by The Financial Services Act 2012 (Consumer Credit) Order 2013 (S.I. 2013/1882), arts. 1(1), 3(7)

C2Pt. 14 applied (with modifications) (26.7.2013 for specified purposes, 1.4.2014 in so far as not already in force) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) (No.2) Order 2013 (S.I. 2013/1881), arts. 1(2)(6), 12(10)

C3Pt. 14 modified (E.W.S.) (29.11.2018 for specified purposes, 1.4.2019 in so far as not already in force) by The Financial Services and Markets Act 2000 (Claims Management Activity) Order 2018 (S.I. 2018/1253), arts. 1(2)(3), 82(13)

C4S. 208 excluded (1.12.2001) by S.I. 2001/3592, arts. 1(2), 61(5), 110(6) (with art. 23(2))

C5S. 208 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)

C7Ss. 204A-209 modified by S.I. 2002/1775, reg. 12(1)(1A) (as substituted (24.3.2015) by The Electronic Commerce Directive (Financial Services and Markets) (Amendment) Order 2015 (S.I. 2015/852), arts. 1(2), 2(3))

C8Ss. 207-211 applied (20.4.2015 for specified purposes, 21.12.2015 for specified purposes, 21.3.2016 in so far as not already in force) by The Mortgage Credit Directive Order 2015 (S.I. 2015/910), arts. 1(5), 23(4) (with Pt. 4)

C9S. 208 modified (E.W.S.) (29.11.2018 for specified purposes, 1.4.2019 in so far as not already in force) by The Financial Services and Markets Act 2000 (Claims Management Activity) Order 2018 (S.I. 2018/1253), arts. 1(2)(3), 51(2)(3)

C10S. 208 modified (E.W.S.) (29.11.2018 for specified purposes, 1.4.2019 in so far as not already in force) by The Financial Services and Markets Act 2000 (Claims Management Activity) Order 2018 (S.I. 2018/1253), arts. 1(2)(3), 52(4)(5)

C12S. 208 applied (with modifications) (8.6.2023 for specified purposes, 7.10.2023 in so far as not already in force) by The Financial Services and Markets Act 2000 (Financial Promotion) (Amendment) Order 2023 (S.I. 2023/612), art. 1(2), Sch. para. 21 (with art. 11)

C13S. 208 applied (with modifications) (14.1.2025 for specified purposes) by The Short Selling Regulations 2025 (S.I. 2025/29), regs. 2(2)(3), 24, 25, 26, Sch. 1 Pts. 1, 2, 3

C14S. 208(1)(a)(b) modified (1.12.2001) by S.I. 2001/3592, arts. 1(2), 68(2), 69(2) (with art. 23(2))

C15S. 208(4) excluded (26.7.2013 for specified purposes, 1.4.2014 in so far as not already in force) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) (No. 2) Order 2013 (S.I. 2013/1881), arts. 1(2)(6), 45(3)

C16S. 208(4) excluded (E.W.S.) (29.11.2018 for specified purposes, 1.4.2019 in so far as not already in force) by The Financial Services and Markets Act 2000 (Claims Management Activity) Order 2018 (S.I. 2018/1253), arts. 1(2)(3), 48(4)

C17S. 208(4) excluded (E.W.S.) (29.11.2018 for specified purposes, 1.4.2019 in so far as not already in force) by The Financial Services and Markets Act 2000 (Claims Management Activity) Order 2018 (S.I. 2018/1253), arts. 1(2)(3), 53(3)

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