Part VIII

Provisions relating to market abuse

Procedure

Decision notices and right to refer to Tribunal.
127
1
If the FCA decides—
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);
f
to impose a suspension or restriction in relation to a person under section 123B;
it must give the person a decision notice.
2
A decision notice about the imposition of a penalty under section 123 must state the amount of the penalty.
3
A decision notice about the publication of a statement under section 123 must set out the terms of the statement.
3A
A decision notice about the imposition of a prohibition under section 123A must set out the terms of the prohibition.
3B
A decision notice about the imposition of a suspension or restriction under section 123B must state the period for which the suspension or restriction is to have effect.
4
If the FCA decides—
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 prohibition on an individual under section 123A; or
d
to impose a suspension or restriction in relation to a person under section 123B;
that person may refer the matter to the Tribunal.
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)
S. 127(4) substituted (3.7.2016) by The Financial Services and Markets Act 2000 (Market Abuse) Regulations 2016 (S.I. 2016/680), regs. 1, 9(8)(e)
Words in s. 127(2) inserted (3.7.2016) by The Financial Services and Markets Act 2000 (Market Abuse) Regulations 2016 (S.I. 2016/680), regs. 1, 9(8)(b)
S. 127(1) substituted (3.7.2016) by The Financial Services and Markets Act 2000 (Market Abuse) Regulations 2016 (S.I. 2016/680), regs. 1, 9(8)(a)
S. 127(3A)(3B) inserted (3.7.2016) by The Financial Services and Markets Act 2000 (Market Abuse) Regulations 2016 (S.I. 2016/680), regs. 1, 9(8)(d)
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)
Words in s. 127(3) inserted (3.7.2016) by The Financial Services and Markets Act 2000 (Market Abuse) Regulations 2016 (S.I. 2016/680), regs. 1, 9(8)(c)