SCHEDULE Amendments of Financial Services and Markets Act 2000 relating to requirements imposed as a result of Part 5A of that Act

16.—(1) Section 207 (proposal to take disciplinary measures) is amended as follows.

(2) In subsection (1)(1)—

(a) in paragraph (a), for “205” substitute “205(1)”;

(b) in paragraph (b), for “206” substitute “206(1)”.

(3) After subsection (1) insert—

“(1A) If the FCA proposes—

(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 give the person a warning notice.”.

(4) In subsection (4)(2)—

(a) after “impose a” insert “prohibition or”;

(b) after “suspension” insert “, prohibition”.

(1)

Subsection (1) was amended by paragraph 18 of Schedule 2 to the Financial Services Act 2010 and paragraph 14 of Schedule 9 to the Financial Services Act 2012.

(2)

Subsection (4) was inserted by paragraph 18 of Schedule 2 to the Financial Services Act 2010.