# Financial Services and Markets Act 2000, Section 67: Disciplinary measures: procedure and right to refer to Tribunal.

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

(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.
(2) A warning notice about a proposal to impose a penalty must state the amount of the penalty.
(2A) A warning notice about a proposal—
(a) to suspend an approval, or
(b) to impose a condition in relation to the performance of a function,
must state the period for which the suspension or condition is to have effect.
(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.
(3) A warning notice about a proposal to publish a statement must set out the terms of the statement.
(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.
(5) A decision notice about the imposition of a penalty must state the amount of the penalty.
(5A) A decision notice about—
(a) the suspension of an approval, or
(b) the imposition of a condition in relation to the performance of a function,
must state the period for which the suspension or condition is to have effect.
(5B) A decision notice about limiting the period for which an approval is to have effect must state the length of that period.
(6) A decision notice about the publication of a statement must set out the terms of the statement.
(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.
(8) Approval” means an approval given under section 59.
(9) “Other interested parties”, in relation to a person (“A”) in relation to whom approval has been given, are—
(a) the person on whose application the approval was given (“B”); and
(b) the person by whom A's services are retained, if not B.
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Source: https://www.legislation.gov.uk/ukpga/2000/8/section/67 (the official version)
Page: https://openlegislation.uk/financial-services-and-markets-act-2000/section-67
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.