Financial Services and Markets Act 2000

[F1122I.Power to suspend trading in financial instrumentsU.K.

This section has no associated Explanatory Notes

(1)The FCA may suspend trading of a financial instrument where it considers it necessary for the purpose of the exercise by it of functions under the market abuse regulation or a supplementary EU regulation.

(2)If the FCA does so the issuer of the financial instrument may refer the matter to the Tribunal.

(3)The FCA may—

(a)cancel a suspension under subsection (1); and

(b)impose such conditions for the cancellation to take effect as it considers appropriate.

(4)The provisions relating to suspension of listing of securities in section 78 (discontinuance or suspension: procedure) apply to a suspension of trading in a financial instrument under subsection (1) and for the purposes of this section—

(a)the references in section 78 to listing are to be read as references to trading; and

(b)the references in section 78 to securities are to be read as references to financial instruments.

(5)For the meaning of “issuer” in this Part, see section 131AB.]

Textual Amendments