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Financial Services Act 2012

Financial Services Act 2012 s 22

s 22

(1) The scheme details must be published by the FCA in the way appearing to it to be best calculated to bring them to the attention of the public. (2) Before making the financial penalty scheme, the FCA must publish a draft of the proposed scheme in the way appearing to the FCA to be best calculated to bring it to the attention of the public. (3) The draft must be accompanied by notice that representations about the proposals may be made to the FCA within a specified time. (4) Before making the scheme, the FCA must have regard to any representations made to it in accordance with sub-paragraph (3). (5) If the FCA makes the proposed scheme, it must publish an account, in general terms, of— (a) the representations made to it in accordance with sub-paragraph (3), and (b) its response to them. (6) If the scheme differs from the draft published under sub-paragraph (2) in a way which is, in the opinion of the FCA, significant, the FCA must (in addition to complying with sub-paragraph (5)) publish details of the difference. (7) The FCA must, without delay, give the Treasury a copy of any scheme details published by it. (8) The FCA may charge a reasonable fee for providing a person with a copy of— (a) a draft published under sub-paragraph (2); (b) scheme details. (9) Sub-paragraphs (2) to (6) and (8)(a) also apply to a proposal to alter or replace the financial penalty scheme.

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