If the FCA considers that a referral fees authorised person (“P”) has contravened a relevant requirement, it may impose for such period as it considers appropriate, such limitations or other restrictions in relation to the carrying on of a regulated activity under any permission which P has to carry on a regulated activity as it considers appropriate.

In paragraph (1) “permission” means any permission that the authorised person has, whether given (or treated as given) by the FCA or conferred by any provision of the 2000 Act.

The period for which a restriction is to have effect may not exceed 12 months.

A restriction may, in particular, be imposed so as to require the person concerned to take, or refrain from taking, specified action.

The power under this regulation may (but need not) be exercised so as to have effect in relation to all the regulated activities that the person concerned carries on.

Any one or more of the powers under this regulation and regulations 14 to 16 may be exercised in relation to the same contravention.