Financial Services and Markets Act 2000

[F1 207 Proposal to take disciplinary measures. E+W+S+N.I.

(1) If the Authority 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.]]

Annotations:

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Amendments (Textual)

F1 S. 206A inserted (8.6.2010) by Financial Services Act 2010 (c. 28), ss. 9, 26(2)

F2 Word 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)

F3 S. 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)

F4 S. 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)

C1 S. 207 excluded (1.12.2001) by S.I. 2001/3592, arts. 1(2), 61(5), 110(6) (with art. 23(2))

C2 S. 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)