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Financial Services and Markets Act 2000

Financial Services and Markets Act 2000 s 127

s 127 Decision notices and right to refer to Tribunal.

(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.

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