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Financial Services and Markets Act 2000
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Changes over time for: Section 126
Alternative versions:
- 01/12/2001- Amendment
- 03/07/2016- Amendment
- 29/06/2018
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Point in time view as at 29/06/2018.
Changes to legislation:
Financial Services and Markets Act 2000, Section 126 is up to date with all changes known to be in force on or before 16 April 2024. 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.
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126 Warning notices.U.K.
This section has no associated Explanatory Notes
[F1(1)If the FCA proposes—
(a)to impose a penalty on a person under section 123(2);
(b)to publish a statement censuring a person under section 123(3);
(c)to impose a temporary prohibition on an individual under section 123A(2)(a);
(d)to impose a temporary prohibition on an individual under section 123A(2)(b);
(e)to impose a permanent prohibition on an individual under section 123A(3); or
(f)to impose a suspension or restriction in relation to a person under section 123B;
it must give the person a warning notice.]
(2)A warning notice about a proposal to impose a penalty [F2under section 123] must state the amount of the proposed penalty.
(3)A warning notice about a proposal to publish a statement [F3under section 123] must set out the terms of the proposed statement.
[F4(4)A warning notice about a proposal to impose a prohibition under section 123A must set out the terms of the proposed prohibition.
(5)A warning notice about a proposal to impose a suspension or restriction under section 123B must state the period for which the suspension or restriction is to have effect.]
Textual Amendments
F1S. 126(1) substituted (3.7.2016) by The Financial Services and Markets Act 2000 (Market Abuse) Regulations 2016 (S.I. 2016/680), regs. 1, 9(7)(a)
F2Words in s. 126(2) inserted (3.7.2016) by The Financial Services and Markets Act 2000 (Market Abuse) Regulations 2016 (S.I. 2016/680), regs. 1, 9(7)(b)
F3Words in s. 126(3) inserted (3.7.2016) by The Financial Services and Markets Act 2000 (Market Abuse) Regulations 2016 (S.I. 2016/680), regs. 1, 9(7)(c)
F4S. 126(4)(5) inserted (3.7.2016) by The Financial Services and Markets Act 2000 (Market Abuse) Regulations 2016 (S.I. 2016/680), regs. 1, 9(7)(d)
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