Paragraph 16

(1)

Section 207 (proposal to take disciplinary measures) is amended as follows.

(2)

In subsection (1)^f1—

(a)

in paragraph (a), for “205” substitute “205(1)”;

(b)

in paragraph (b), for “206” substitute “206(1)”.

(3)

After subsection (1) insert—

“(1A)

If the FCA proposes—

(a)

to publish a statement in respect of a person under section 205(2),

(b)

to impose a penalty on a person under section 206(1A), or

(c)

to impose a prohibition or restriction on a person under section 206B,

it must give the person a warning notice.”.

(4)

In subsection (4)^f2—

(a)

after “impose a” insert “prohibition or”;

(b)

after “suspension” insert “, prohibition”.

Annotations

Footnotes

f1: Subsection (1) was amended by paragraph 18 of Schedule 2 to the Financial Services Act 2010 and paragraph 14 of Schedule 9 to the Financial Services Act 2012.
f2: Subsection (4) was inserted by paragraph 18 of Schedule 2 to the Financial Services Act 2010.