Regulation 28 Statements of policy

(1)

Sections 69 (statements of policy) and 70 (statements of policy: procedure) of the 2000 Act^f1 apply in relation to the preparation and issuance by the FCA of statements of policy with respect to—

(a)

the imposition of penalties, suspensions or restrictions under regulations 17(2) (financial penalties) and 19 (suspension of and restriction on approval to carry on functions);

(b)

the amount of penalties imposed under regulation 17(2); and

(c)

the period for which suspensions or restrictions imposed under regulation 19 are to have effect;

as they apply in relation to the preparation and issuance by the FCA of statements of policy with respect to action the FCA may take under section 66 (disciplinary powers) of the 2000 Act^f2.

(2)

Sections 210 (statements of policy) and 211 (statements of policy: procedure) of the 2000 Act^f3 apply in relation to the preparation and issuance by the FCA of statements of policy with respect to—

(a)

the imposition of penalties or restrictions under regulations 17(1) (financial penalties) and 18 (restrictions on permission to carry on regulated activities);

(b)

the amount of penalties imposed under regulation 17(1); and

(c)

the period for which restrictions imposed under regulation 18 are to have effect;

as they apply in relation to the preparation and issuance by the FCA of statements of policy with respect to action the FCA may take under Part 14 (disciplinary measures) of the 2000 Act^f4.

Annotations

Footnotes

f1: Section 69 is amended by paragraph 10 of Schedule 2 to the Financial Services Act 2010, paragraph 17 of Schedule 5 to the Financial Services Act 2012, and paragraph 7 of Schedule 3 to the Financial Services (Banking Reform) Act 2013. Section 70 is amended by paragraph 18 of Schedule 5 to the Financial Services Act 2012.
f2: Section 66 is amended by section 12 of and paragraph 8 of Schedule 2 to the Financial Services Act 2010, paragraph 14 of Schedule 5 to the Financial Services Act 2012, sections 28 and 32 of and paragraph 5 of Schedule 3 to the Financial Services (Banking Reform) Act 2013 and S.I. 2013/1773.
f3: Section 210 is amended by paragraph 20 of Schedule 2 to the Financial Services Act 2010 and paragraph 17 of Schedule 9 to the Financial Services Act 2012. Section 211 is amended by paragraph 18 of Schedule 9 to the Financial Services Act 2012.
f4: Part 14 is amended by sections 9 and 10 of and Schedule 2 to the Financial Services Act 2010, Schedule 9 to the Financial Services Act 2012 and S.I. 2013/1773.