Regulation 128 Notice of publication of a compliance failure or of imposition of a penalty

Before publishing details of a compliance failure by a regulated person under regulation 126(a) or imposing a penalty on a regulated person under regulation 127, the Payment Systems Regulator must—

(a)

give the person notice in writing of the proposed publication or penalty and reasons for the proposed publication or penalty;

(b)

give the person at least 21 days to make representations;

(c)

consider any representations made; and

(d)

as soon as is reasonably practicable, give the person a notice in writing stating whether or not it intends to publish the details or impose the penalty.

Notes on the whole SI

Textual amendments

F1: Regulations revoked (14.12.2023 for the revocation of reg. 158) by Financial Services and Markets Act 2023 (c. 29), s. 86(3), Sch. 1 Pt. 2 (with s. 1(4)); S.I. 2023/1382, reg. 2(c)(xix)