{
  "url": "https://openlegislation.uk/financial-services-and-markets-act-2000/section-67",
  "json_url": "https://openlegislation.uk/financial-services-and-markets-act-2000/section-67.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/67",
  "kind": "section",
  "number": "67",
  "heading": "Disciplinary measures: procedure and right to refer to Tribunal.",
  "text": "(1) If a regulator proposes to take action against a person under section 66, it must give him a warning notice; and if it proposes to take action under subsection (3)(aa) , (ab) or (ac) of that section, it must also give each of the other interested parties a warning notice.\n(2) A warning notice about a proposal to impose a penalty must state the amount of the penalty.\n(2A) A warning notice about a proposal—\n(a) to suspend an approval, or\n(b) to impose a condition in relation to the performance of a function,\nmust state the period for which the suspension or condition is to have effect.\n(2B) A warning notice about a proposal to limit the period for which an approval is to have effect must state the length of that period.\n(3) A warning notice about a proposal to publish a statement must set out the terms of the statement.\n(4) If a regulator decides to take action against a person under section 66, it must give him a decision notice; and if it decides to take action under subsection (3)(aa) , (ab) or (ac) of that section, it must also give each of the other interested parties a decision notice.\n(5) A decision notice about the imposition of a penalty must state the amount of the penalty.\n(5A) A decision notice about—\n(a) the suspension of an approval, or\n(b) the imposition of a condition in relation to the performance of a function,\nmust state the period for which the suspension or condition is to have effect.\n(5B) A decision notice about limiting the period for which an approval is to have effect must state the length of that period.\n(6) A decision notice about the publication of a statement must set out the terms of the statement.\n(7) If a regulator decides to take action against a person under section 66, he may refer the matter to the Tribunal; and if the regulator decides to take action under section 66(3)(aa) , (ab) or (ac), each of the other interested parties may also refer the matter to the Tribunal.\n(8) Approval” means an approval given under section 59.\n(9) “Other interested parties”, in relation to a person (“A”) in relation to whom approval has been given, are—\n(a) the person on whose application the approval was given (“B”); and\n(b) the person by whom A's services are retained, if not B.\n...",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "Words in s. 67(1) substituted (1.4.2013) by Financial Services Act 2012 (c. 21), s. 122(3), Sch. 5 para. 15(2) (with Sch. 20); S.I. 2013/423, art. 3, Sch."
    },
    {
      "type": "F",
      "label": "F2",
      "text": "Words in s. 67(1) inserted (8.6.2010) by Financial Services Act 2010 (c. 28), ss. 24(1), 26(2)(d)(e), Sch. 2 para. 9(2)"
    },
    {
      "type": "F",
      "label": "F3",
      "text": "Words in s. 67(1) substituted (7.3.2016) by Financial Services (Banking Reform) Act 2013 (c. 33), s. 148(5), Sch. 3 para. 6(2); S.I. 2015/490, art. 2(1)(b) (with savings and transitional provisions in S.I. 2015/492 (as amended by S.I. 2015/1660))"
    },
    {
      "type": "F",
      "label": "F4",
      "text": "S. 67(2A) inserted (8.6.2010) by Financial Services Act 2010 (c. 28), ss. 24(1), 26(2)(d)(e), Sch. 2 para. 9(3)"
    },
    {
      "type": "F",
      "label": "F5",
      "text": "Word in s. 67(2A) substituted (7.3.2016) by Financial Services (Banking Reform) Act 2013 (c. 33), s. 148(5), Sch. 3 para. 6(3); S.I. 2015/490, art. 2(1)(b) (with savings and transitional provisions in S.I. 2015/492 (as amended by S.I. 2015/1660))"
    },
    {
      "type": "F",
      "label": "F6",
      "text": "S. 67(2B) inserted (7.3.2016) by Financial Services (Banking Reform) Act 2013 (c. 33), s. 148(5), Sch. 3 para. 6(4); S.I. 2015/490, art. 2(1)(b) (with savings and transitional provisions in S.I. 2015/492 (as amended by S.I. 2015/1660))"
    },
    {
      "type": "F",
      "label": "F7",
      "text": "Words in s. 67(4) substituted (1.4.2013) by Financial Services Act 2012 (c. 21), s. 122(3), Sch. 5 para. 15(2) (with Sch. 20); S.I. 2013/423, art. 3, Sch."
    },
    {
      "type": "F",
      "label": "F8",
      "text": "Words in s. 67(4) inserted (8.6.2010) by Financial Services Act 2010 (c. 28), ss. 24(1), 26(2)(d)(e), Sch. 2 para. 9(4)"
    },
    {
      "type": "F",
      "label": "F9",
      "text": "Words in s. 67(4) substituted (7.3.2016) by Financial Services (Banking Reform) Act 2013 (c. 33), s. 148(5), Sch. 3 para. 6(5); S.I. 2015/490, art. 2(1)(b) (with savings and transitional provisions in S.I. 2015/492 (as amended by S.I. 2015/1660))"
    },
    {
      "type": "F",
      "label": "F10",
      "text": "S. 67(5A) inserted (8.6.2010) by Financial Services Act 2010 (c. 28), ss. 24(1), 26(2)(d)(e), Sch. 2 para. 9(5)"
    },
    {
      "type": "F",
      "label": "F11",
      "text": "Word in s. 67(5A) substituted (7.3.2016) by Financial Services (Banking Reform) Act 2013 (c. 33), s. 148(5), Sch. 3 para. 6(6); S.I. 2015/490, art. 2(1)(b) (with savings and transitional provisions in S.I. 2015/492 (as amended by S.I. 2015/1660))"
    },
    {
      "type": "F",
      "label": "F12",
      "text": "S. 67(5B) inserted (7.3.2016) by Financial Services (Banking Reform) Act 2013 (c. 33), s. 148(5), Sch. 3 para. 6(7); S.I. 2015/490, art. 2(1)(b) (with savings and transitional provisions in S.I. 2015/492 (as amended by S.I. 2015/1660))"
    },
    {
      "type": "F",
      "label": "F13",
      "text": "Words in s. 67(7) substituted (1.4.2013) by Financial Services Act 2012 (c. 21), s. 122(3), Sch. 5 para. 15(3)(a) (with Sch. 20); S.I. 2013/423, art. 3, Sch."
    },
    {
      "type": "F",
      "label": "F14",
      "text": "Words in s. 67(7) inserted (8.6.2010) by Financial Services Act 2010 (c. 28), ss. 24(1), 26(2)(d)(e), Sch. 2 para. 9(6)"
    },
    {
      "type": "F",
      "label": "F15",
      "text": "Words in s. 67(7) substituted (1.4.2013) by Financial Services Act 2012 (c. 21), s. 122(3), Sch. 5 para. 15(3)(b) (with Sch. 20); S.I. 2013/423, art. 3, Sch."
    },
    {
      "type": "F",
      "label": "F16",
      "text": "Words in s. 67(7) substituted (7.3.2016) by Financial Services (Banking Reform) Act 2013 (c. 33), s. 148(5), Sch. 3 para. 6(8); S.I. 2015/490, art. 2(1)(b) (with savings and transitional provisions in S.I. 2015/492 (as amended by S.I. 2015/1660))"
    },
    {
      "type": "F",
      "label": "F17",
      "text": "S. 67(8)(9) inserted (8.6.2010) by Financial Services Act 2010 (c. 28), ss. 24(1), 26(2)(d)(e), Sch. 2 para. 9(7)"
    },
    {
      "type": "F",
      "label": "F18",
      "text": "Words in s. 67(9) substituted (1.4.2013) by Financial Services Act 2012 (c. 21), s. 122(3), Sch. 5 para. 15(4)(a) (with Sch. 20); S.I. 2013/423, art. 3, Sch."
    },
    {
      "type": "F",
      "label": "F19",
      "text": "Words in s. 67(9) omitted (1.4.2013) by virtue of Financial Services Act 2012 (c. 21), s. 122(3), Sch. 5 para. 15(4)(b) (with Sch. 20); S.I. 2013/423, art. 3, Sch."
    },
    {
      "type": "C",
      "label": "C1",
      "text": "S. 67 excluded (1.12.2001) by S.I. 2001/3592, arts. 1(2), 61(3), 85(5) (with art. 23(2))"
    },
    {
      "type": "C",
      "label": "C2",
      "text": "Ss. 66-70 applied (with modifications) (1.11.2009) by The Payment Services Regulations 2009 (S.I. 2009/209), regs. 1(2)(c), 95, Sch. 5 para. 1 (with reg. 3) (as amended (1.4.2013) by The Financial Services Act 2012 (Consequential Amendments and Transitional Provisions) Order 2013 (S.I. 2013/472), Sch. 2 para. 155(6)(a) (with Sch. 2 para. 156))"
    },
    {
      "type": "C",
      "label": "C3",
      "text": "Ss. 66-70 applied (with modifications) (11.2.2010) by The Cross Border Payments in Euro Regulations 2010 (S.I. 2010/89), reg. 19, Sch. para. 1"
    },
    {
      "type": "C",
      "label": "C4",
      "text": "Ss. 66-70 applied (with modifications) (15.1.2013) by The Payments in Euro (Credit Transfers and Direct Debits) Regulations 2012 (S.I. 2012/3122), reg. 1, Sch. para. 1 (as amended (1.4.2013) by The Financial Services Act 2012 (Consequential Amendments and Transitional Provisions) Order 2013 (S.I. 2013/472), Sch. 2 para. 248(6)(a))"
    },
    {
      "type": "C",
      "label": "C5",
      "text": "S. 67 applied (with modifications) (26.7.2013 for specified purposes, 1.4.2014 in so far as not already in force) by The Financial Services Act 2012 (Consumer Credit) Order 2013 (S.I. 2013/1882), arts. 1(1), 3(3)"
    },
    {
      "type": "C",
      "label": "C6",
      "text": "Ss. 66-70 applied (with modifications) by S.I. 2011/99, Sch. 5 para. 1 (as substituted (7.3.2016) by The Financial Services (Banking Reform) Act 2013 (Consequential Amendments) Order 2016 (S.I. 2016/163), arts. 1, 4)"
    },
    {
      "type": "C",
      "label": "C7",
      "text": "Ss. 66-70 applied (with modifications) by S.I. 2009/209, Sch. 5 para. 1 (as substituted (7.3.2016) by The Financial Services (Banking Reform) Act 2013 (Consequential Amendments) Order 2016 (S.I. 2016/163), arts. 1, 3)"
    },
    {
      "type": "C",
      "label": "C8",
      "text": "Ss. 66-70 applied (with modifications) S.I. 2012/3122, Sch. para. 1 (as amended) (7.3.2016) by The Financial Services (Banking Reform) Act 2013 (Consequential Amendments) Order 2016 (S.I. 2016/163), arts. 1, 5"
    },
    {
      "type": "C",
      "label": "C9",
      "text": "Ss. 66-70 applied (with modifications) (1.1.2019) by The Securitisation Regulations 2018 (S.I. 2018/1288), reg. 1, Sch. 1 para. 1 (with Sch. 1 paras. 13, 14)"
    },
    {
      "type": "C",
      "label": "C10",
      "text": "Ss. 66-70 applied (with modifications) (30.4.2011) by The Electronic Money Regulations 2011 (S.I. 2011/99), regs. 1(2)(b), 62, Sch. 3 para. 1 (with art. 3) (as amended (1.4.2013) by The Financial Services Act 2012 (Consequential Amendments and Transitional Provisions) Order 2013 (S.I. 2013/472), Sch. 2 para. 196(5)(a) and (29.8.2023) by Financial Services and Markets Act 2023 (c. 29), s. 86(3), Sch. 2 para. 62(a) (with s. 2(3)); S.I. 2023/779, reg. 4(zz)(iv))"
    },
    {
      "type": "C",
      "label": "C11",
      "text": "Ss. 66-70 applied (with modifications) (13.8.2017 for specified purposes, 13.1.2018 in so far as not already in force) by The Payment Services Regulations 2017 (S.I. 2017/752), reg. 1(2)(b)(i)(6), Sch. 6 para. 1 (with reg. 3) (as amended (29.8.2023) by Financial Services and Markets Act 2023 (c. 29), s. 86(3), Sch. 2 para. 72(a) (with s. 2(3)); S.I. 2023/779, reg. 4(zz)(iv))"
    },
    {
      "type": "C",
      "label": "C12",
      "text": "Ss. 67-70 applied (with modifications) (14.1.2025 for specified purposes, 13.7.2026 in so far as not already in force) by The Short Selling Regulations 2025 (S.I. 2025/29), regs. 2(2)(3), 24, 25, Sch. 1 Pts. 1, 2; S.I. 2026/587, reg. 2(b)"
    },
    {
      "type": "C",
      "label": "C13",
      "text": "S. 67(4) modified (1.12.2001) by S.I. 2001/3592, arts. 1(2), 73(2), 74(2) (with art. 23(2))"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/2000/8/section/67",
    "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."
}