# Financial Services and Markets Act 2000, Section 89L: Power to suspend or prohibit trading of securities


(1) This section applies to securities admitted to trading on a regulated market.
(2) If the FCA has reasonable grounds for suspecting that an applicable transparency obligation has been infringed by an issuer, it may—
(a) suspend trading in the securities for a period not exceeding 10 days,
(b) prohibit trading in the securities, or
(c) make a request to the operator of the market on which the issuer's securities are traded—
(i) to suspend trading in the securities for a period not exceeding 10 days, or
(ii) to prohibit trading in the securities.
(3) If the FCA has reasonable grounds for suspecting that an applicable transparency obligation has been infringed by a voteholder of an issuer, it may—
(a) prohibit trading in the securities, or
(b) make a request to the operator of the market on which the issuer's securities are traded to prohibit trading in the securities.
(4) If the FCA finds that an applicable transparency obligation has been infringed, it may require the market operator to prohibit trading in the securities.
(5) In this section “transparency obligation” means an obligation under qualifying transparency legislation.
(6) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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Source: https://www.legislation.gov.uk/ukpga/2000/8/section/89L (the official version)
Page: https://openlegislation.uk/financial-services-and-markets-act-2000/section-89L
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.