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Financial Services and Markets Act 2000

Financial Services and Markets Act 2000 s 89R

s 89R Action under s.89Q: procedure and right to refer to Tribunal

(1) If the FCA proposes to take action against a provider under section 89Q, it must give the provider 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 giving of information, 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 provider under section 89Q, it must give the provider 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 giving of information, 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 provider under section 89Q, the provider may refer the matter to the Tribunal.

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