Part VIII

Provisions relating to market abuse

Procedure

Warning notices.
126
1
If the FCA proposes—
a
to impose a penalty on a person under section 123(2);
b
to publish a statement censuring a person under section 123(3);
c
to impose a temporary prohibition on an individual under section 123A(2)(a);
d
to impose a temporary prohibition on an individual under section 123A(2)(b);
e
to impose a permanent prohibition on an individual under section 123A(3); or
f
to impose a suspension or restriction in relation to a person under section 123B;
it must give the person a warning notice.
2
A warning notice about a proposal to impose a penalty under section 123 must state the amount of the proposed penalty.
3
A warning notice about a proposal to publish a statement under section 123 must set out the terms of the proposed statement.
4
A warning notice about a proposal to impose a prohibition under section 123A must set out the terms of the proposed prohibition.
5
A warning notice about a proposal to impose a suspension or restriction under section 123B must state the period for which the suspension or restriction is to have effect.
S. 126(1) substituted (3.7.2016) by The Financial Services and Markets Act 2000 (Market Abuse) Regulations 2016 (S.I. 2016/680), regs. 1, 9(7)(a)
Pt. 8 heading substituted (3.7.2016) by The Financial Services and Markets Act 2000 (Market Abuse) Regulations 2016 (S.I. 2016/680), regs. 1, 9(2)
Words in s. 126(3) inserted (3.7.2016) by The Financial Services and Markets Act 2000 (Market Abuse) Regulations 2016 (S.I. 2016/680), regs. 1, 9(7)(c)
S. 126(4)(5) inserted (3.7.2016) by The Financial Services and Markets Act 2000 (Market Abuse) Regulations 2016 (S.I. 2016/680), regs. 1, 9(7)(d)
Words in s. 126(2) inserted (3.7.2016) by The Financial Services and Markets Act 2000 (Market Abuse) Regulations 2016 (S.I. 2016/680), regs. 1, 9(7)(b)
Pt. 8 applied (with modifications) (18.6.2012) by The Recognised Auction Platforms Regulations 2011 (S.I. 2011/2699), regs. 1(2)(b), 6, Sch. 1 (as amended (3.1.2018) by The Financial Services and Markets Act 2000 (Markets in Financial Instruments) (No.2) Regulations 2017 (S.I. 2017/1255), regs. 2(b), 9)