Section 208: Decision notice.

Financial Services and Markets Act 2000 · 2000 c. 8View on legislation.gov.uk

Part XIV: Disciplinary Measures

If a regulator decides—

to publish a statement under section 205(1) (whether or not in the terms proposed), . . .
to impose a penalty under section 206(1) (whether or not of the amount proposed), or
to suspend a permission or impose a restriction under section 206A (whether or not in the manner proposed),

it must without delay give the authorised person concerned a decision notice.

If the FCA decides—

to publish a statement in respect of a person under section 205(2),
to impose a penalty on a person under section 206(1A), or
to impose a prohibition or restriction on a person under section 206B,

it must without delay give the person a decision notice.

In the case of a statement, the decision notice must set out the terms of the statement.

In the case of a penalty, the decision notice must state the amount of the penalty.

In the case of a suspension , prohibition or restriction, the decision notice must state the period for which the suspension , prohibition or restriction is to have effect.

If a regulator decides to—

publish a statement in respect of an authorised person under section 205(1), . . .
impose a penalty on an authorised person under section 206(1), or
suspend a permission of an authorised person, or impose a restriction in relation to the carrying on of a regulated activity by an authorised person, under section 206A,

the authorised person may refer the matter to the Tribunal.

If the FCA decides to—

publish a statement in respect of a person under section 205(2),
impose a penalty on a person under section 206(1A), or
impose a prohibition or restriction on a person under section 206B,

the person may refer the matter to the Tribunal.

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Reuse reviewed 21 August 2026 under Open Government Licence v3.0.