Part VI

Official Listing

Sponsors

Action under s.88A: procedure and right to refer to Tribunal
88B
1
If the FCA proposes to take action against a sponsor under section 88A, it must give the sponsor a warning notice.
2
A warning notice about a proposal to impose a penalty must state the amount of the penalty.
3
A warning notice about a proposal—
a
to suspend an approval, or
b
to impose a restriction in relation to the performance of a service,
must state the period for which the suspension or restriction is to have effect.
4
A warning notice about a proposal to publish a statement must set out the terms of the statement.
5
If the FCA decides to take action against a sponsor under section 88A, it must give the sponsor a decision notice.
6
A decision notice about the imposition of a penalty must state the amount of the penalty.
7
A decision notice about—
a
the suspension of an approval, or
b
the imposition of a restriction in relation to the performance of a service,
must state the period for which the suspension or restriction is to have effect.
8
A decision notice about the publication of a statement must set out the terms of the statement.
9
If the FCA decides to take action against a sponsor under section 88A, the sponsor may refer the matter to the Tribunal.
Pt. 6 (ss. 72-103) applied (with modifications) (1.12.2001) by S.I. 1995/1537, Sch. 4 (as amended (1.12.2001) by S.I. 2001/3649, arts. 1, 511)
Pt. 6 modified (31.12.2020) by The Official Listing of Securities, Prospectus and Transparency (Amendment etc.) (EU Exit) Regulations 2019 (S.I. 2019/707), regs. 1(2), 73 (as amended by S.I. 2019/1234, regs. 1(2), 23 and with savings in S.I. 2019/680, reg. 11 (as amended by S.I. 2019/1234, regs. 1(3), 29(2)))); 2020 c. 1, Sch. 5 para. 1(1)
Ss. 88A-88F substituted for s. 89 (24.1.2013 for specified purposes, 19.3.2013 for specified purposes, 1.4.2013 in so far as not already in force) by Financial Services Act 2012 (c. 21), ss. 18(4), 122(3) (with Sch. 20); S.I. 2013/113, art. 2(1)(c), Sch. Pt. 3; S.I. 2013/423, art. 3, Sch.; S.I. 2013/651, art. 2(a)