{
  "url": "https://openlegislation.uk/financial-services-and-markets-act-2000/section-192Y",
  "json_url": "https://openlegislation.uk/financial-services-and-markets-act-2000/section-192Y.json",
  "legislation": "ukpga/2000/8",
  "legislation_title": "Financial Services and Markets Act 2000",
  "legislation_url": "https://openlegislation.uk/financial-services-and-markets-act-2000",
  "path": "section/192Y",
  "kind": "section",
  "number": "192Y",
  "heading": "Power to impose penalty or issue censure",
  "text": "(1) This section applies if the PRA is satisfied that a company which is or has been a financial holding company or a mixed financial holding company (“the company”) has contravened a requirement imposed by—\n(a) this Part;\n(b) a direction given to the company by the PRA under section 192T;\n(c) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .\n(ca) section 192XA rules; or\n(d) the capital requirements regulation or an instrument made under that regulation.\n(2) The PRA may impose a penalty of such amount as it considers appropriate on—\n(a) the company; or\n(b) any person who was knowingly concerned in the contravention.\n(3) The PRA may, instead of imposing a penalty on a person, publish a statement censuring the person.\n(4) The PRA may not take action against a person under this section after the end of the limitation period unless, before the end of that period, it has given a warning notice to the person under section 192Z.\n(5) “The limitation period” means the period of 3 years beginning with the first day on which the PRA knew of the contravention.\n(6) For this purpose the PRA is to be treated as knowing of a contravention if it has information from which the contravention can reasonably be inferred.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "Pt. 12B inserted (28.12.2020 for specified purposes, 29.12.2020 in so far as not already in force) by The Financial Holding Companies (Approval etc.) and Capital Requirements (Capital Buffers and Macro-prudential Measures) (Amendment) (EU Exit) Regulations 2020 (S.I. 2020/1406), regs. 1(3)(a)(b), 2(7) (with reg. 5)"
    },
    {
      "type": "F",
      "label": "F2",
      "text": "S. 192Y(1)(c) omitted (9.6.2021) by virtue of Financial Services Act 2021 (c. 22), s. 49(5), Sch. 3 para. 17(a) (with Sch. 3 Pt. 4); S.I. 2021/671, reg. 2(d)"
    },
    {
      "type": "F",
      "label": "F3",
      "text": "S. 192Y(1)(ca) inserted (9.6.2021) by Financial Services Act 2021 (c. 22), s. 49(5), Sch. 3 para. 17(b) (with Sch. 3 Pt. 4); S.I. 2021/671, reg. 2(d)"
    },
    {
      "type": "F",
      "label": "F4",
      "text": "S. 192Y(1)(d) substituted (9.6.2021) by Financial Services Act 2021 (c. 22), s. 49(5), Sch. 3 para. 8 (with Sch. 3 Pt. 4); S.I. 2021/671, reg. 2(d)"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/2000/8/section/192Y",
    "retrieved_at": "2026-10-29T09:21:21.899993+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}