Regulation 41 Regulations 39 and 40: procedure and right to refer to Tribunal

If the FCA proposes to take action against a person under regulation 39 or 40, it must give the person a warning notice.

A warning notice about a proposal to publish a statement must set out the terms of the proposed statement.

A warning notice about a proposal to impose a penalty must state the amount of the proposed penalty.

If the FCA decides to take action against a person under regulation 39 or 40, it must give the person a decision notice.

A decision notice about the publication of a statement must set out the terms of the statement.

A decision notice about the imposition of a penalty must state the amount of the penalty.

If the FCA decides to take action against a person under regulation 39 or 40, the person may refer the matter to the Tribunal.