s 206A Suspending permission to carry on regulated activities etc
(1) If the appropriate regulator considers that an authorised person has contravened a relevant requirement imposed on the person, it may— (a) suspend, for such period as it considers appropriate, any permission which the person has to carry on a regulated activity; or (b) impose, for such period as it considers appropriate, such limitations or other restrictions in relation to the carrying on of a regulated activity by the person as it considers appropriate. (1A) The power conferred by subsection (1) is also exercisable by the FCA if it considers that an authorised person has contravened a requirement imposed on the person by— (a) the Payment Services Regulations 2017 , or (b) the Electronic Money Regulations 2011. (1B) The power conferred by subsection (1) may not be exercised in relation to a contravention of a requirement imposed under section 122A, 122B, 122C, 122G, 122H, 122I, 122IA, 123A or 123B. (2) In subsection (1)— “ permission ” means any permission that the authorised person has, whether given (or treated as given) by the FCA or the PRA or conferred by any provision of this Act; ... (3) The period for which a suspension or restriction is to have effect may not exceed 12 months. (4) A suspension may relate only to the carrying on of an activity in specified circumstances. (5) A restriction may, in particular, be imposed so as to require the person concerned to take, or refrain from taking, specified action. (6) The appropriate regulator may— (a) withdraw a suspension or restriction; or (b) vary a suspension or restriction so as to reduce the period for which it has effect or otherwise to limit its effect. (7) The power under this section may (but need not) be exercised so as to have effect in relation to all the regulated activities that the person concerned carries on. (8) Any one or more of the powers under— (a) subsection (1)(a) and (b) of this section, and (b) sections 205 and 206, may be exercised in relation to the same contravention.