# Financial Services and Markets Act 2000, Section 123: Power to impose penalties or issue censure

Extent: E+W+S+N.I.

(1) The FCA may exercise its power under subsection (2) if it is satisfied that—
(a) a person has contravened Article 14 (prohibition of insider dealing and of unlawful disclosure of inside information) or Article 15 (prohibition of market manipulation) of the market abuse regulation;
(b) a person has contravened, or been knowingly concerned in the contravention of—
(i) a provision of the market abuse regulation other than Article 14 or 15 of that regulation; or
(ii) a provision of any supplementary market abuse legislation; or
(c) a person other than an authorised person has contravened any requirement—
(i) imposed on that person under section 122A, 122B, 122C, 122G, 122H, 122HA, 122I, 122IA, 123A or 123B; or
(ii) relating to the market abuse regulation or any supplementary market abuse legislation imposed on that person under Part 11.
(2) The FCA’s power under this subsection is a power to impose a penalty of such amount as it considers appropriate on the person.
(3) The FCA may, instead of imposing a penalty on a person, publish a statement censuring the person.

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Source: https://www.legislation.gov.uk/ukpga/2000/8/section/123 (the official version)
Page: https://openlegislation.uk/financial-services-and-markets-act-2000/section-123
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.