C1 Part VIIIF1Provisions relating to market abuse

Annotations:
Amendments (Textual)
Modifications etc. (not altering text)

F2Administrative sanctions

Annotations:
Amendments (Textual)
F2

Ss. 123-123C and cross-heading substituted for s. 123 and cross-heading (3.7.2016) by The Financial Services and Markets Act 2000 (Market Abuse) Regulations 2016 (S.I. 2016/680), regs. 1, 9(5)

123F2 Power to impose penalties or issue censure

1

The FCA may exercise its power under subsection (2) if it is satisfied that—

a

a person has contravened Article 14 (prohibition of insider dealing and of unlawful disclosure of inside information) or Article 15 (prohibition of market manipulation) of the market abuse regulation;

b

a person has contravened, or been knowingly concerned in the contravention of—

i

a provision of the market abuse regulation other than Article 14 or 15 of that regulation; or

ii

a provision of a supplementary EU regulation; or

c

a person other than an authorised person has contravened any requirement—

i

imposed on that person under section 122A, 122B, 122C, 122G, 122H, F4122HA, 122I, F3122IA, 123A or 123B; or

ii

relating to the market abuse regulation or any supplementary EU regulation imposed on that person under Part 11.

2

The FCA’s power under this subsection is a power to impose a penalty of such amount as it considers appropriate on the person.

3

The FCA may, instead of imposing a penalty on a person, publish a statement censuring the person.