Part XVIIIU.K. [F1Recognised investment exchanges, clearing houses and CSDs]

Textual Amendments

Modifications etc. (not altering text)

Textual Amendments

F2Pt. 18 Ch. 3B inserted (24.1.2013 for specified purposes, 1.4.2013 in so far as not already in force) by Financial Services Act 2012 (c. 21), ss. 33, 122(3) (with Sch. 20); S.I. 2013/113, art. 2(1)(b)(c), Sch. Pts. 2, 3; S.I. 2013/423, art. 3, Sch.

[F3(1)If the appropriate regulator decides to impose a sanction—

(a)on a recognised body under section 312E or 312F, or

(b)on a person under section 312FA,

it must give the body or person (as the case may be) 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.

[F4(3A)In the case of a prohibition, the decision notice must specify the extent of the prohibition.

(3B)The sanction which the appropriate regulator decides to impose may differ from that proposed in the warning notice.]

[F5(4)If the appropriate regulator decides to impose a sanction—

(a)on a recognised body under section 312E or 312F, or

(b)on a person under section 312FA,

the body or person (as the case may be) may refer the matter to the Tribunal.]

[F6(5)In this section, “recognised body” includes an EEA CSD.]]

Textual Amendments

Modifications etc. (not altering text)