Point in time view as at 01/01/2021.
Financial Services and Markets Act 2000, Section 122I is up to date with all changes known to be in force on or before 25 May 2025. 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.
(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 [F2under supplementary market abuse legislation].
(2)If the FCA does so the issuer of the financial instrument may refer the matter to the Tribunal.
[F3(2A)But subsection (2) does not apply if the financial instrument is an emission allowance.]
(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 [F4other than an emission allowance] 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.
[F5(4A)A suspension of trading in a financial instrument that is an emission allowance takes effect—
(a)immediately, if the FCA states that is the case; or
(b)on such later date as the FCA specify.]
(5)For the meaning of “issuer” in this Part, see section 131AB.]
Textual Amendments
F1Ss. 122A-122I and cross-headings inserted (3.7.2016) by The Financial Services and Markets Act 2000 (Market Abuse) Regulations 2016 (S.I. 2016/680), regs. 1, 9(4)
F2Words in s. 122I(1) substituted (31.12.2020) by The Market Abuse (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/310), regs. 1(3), 5(6); 2020 c. 1, Sch. 5 para. 1(1)
F3S. 122I(2A) inserted (29.6.2017 for specified purposes, 3.7.2017 for specified purposes, 31.7.2017 for specified purposes, 3.1.2018 in so far as not already in force) by The Financial Services and Markets Act 2000 (Markets in Financial Instruments) Regulations 2017 (S.I. 2017/701), reg. 1(2)(3)(4)(6), Sch. 2 para. 10(2) (with reg. 7)
F4Words in s. 122I(4) inserted (29.6.2017 for specified purposes, 3.7.2017 for specified purposes, 31.7.2017 for specified purposes, 3.1.2018 in so far as not already in force) by The Financial Services and Markets Act 2000 (Markets in Financial Instruments) Regulations 2017 (S.I. 2017/701), reg. 1(2)(3)(4)(6), Sch. 2 para. 10(3) (with reg. 7)
F5S. 122I(4A) inserted (29.6.2017 for specified purposes, 3.7.2017 for specified purposes, 31.7.2017 for specified purposes, 3.1.2018 in so far as not already in force) by The Financial Services and Markets Act 2000 (Markets in Financial Instruments) Regulations 2017 (S.I. 2017/701), reg. 1(2)(3)(4)(6), Sch. 2 para. 10(4) (with reg. 7)
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