Article 53 Penalties for conduct for which the Regulator has given penalty decision: appeal of decision

(1)

This article applies where—

(a)

the Regulator gave written notice to a person (“A”) under regulation 52 of the 2006 Regulations of a decision to require A to pay a penalty; and

(b)

on 1st April 2019—

(i)

the period within which an appeal relating to that decision may be made has not ended; or

(ii)

an appeal submitted to the First-tier Tribunal by A before that date has not been determined.

(2)

The Regulator’s notice is to be treated as a decision notice given by the FCA under section 208(1)(b) of the 2000 Act, and is to be read for this purpose—

(a)

as if any reference to the Regulator were a reference to the FCA; and

(b)

with any other necessary modifications.

(3)

If, before 1st April 2019, A submitted notice of an appeal to the First-tier Tribunal under section 13 of the 2006 Act, section 208(4) of the 2000 Act^f1 does not apply.

Annotations

Footnotes

f1: Section 208(4) was amended by the Financial Services Act 2012 (c. 21), section 37(1) and paragraphs 1 and 15 of Schedule 9 and the Financial Services Act 2010 (c. 28), section 24(1) and (2), and paragraphs 1 and 19(1) and (4).