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Regulation 39 Requirement to issue warning notice

Original text. Later amendments are not shown.

(1)

Where the FCA proposes to—

(a)

publish a statement under regulation 28 (public censure),

(b)

impose a penalty under regulation 29 (financial penalties),

(c)

impose a limitation on a permission under regulation 30 (limitations on permission to carry on regulated activities), or

(d)

exercise the power in regulation 32(2) (power of FCA to require restitution),

it must give the person concerned a warning notice.

(2)

The warning notice must set out the following—

(a)

in the case of a statement under regulation 28, the terms of the proposed statement;

(b)

in the case of a penalty under regulation 29, the amount of the proposed penalty;

(c)

in the case of a limitation on a permission under regulation 30, the limitation and the period for which it is to have effect;

(d)

in the case of the exercise of the power in regulation 32(2), the amount which the FCA proposes to require to be paid or distributed as mentioned in regulation 32(2).