Section 67: Disciplinary measures: procedure and right to refer to Tribunal.

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

Part V: Performance of Regulated Activities

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.

A warning notice about a proposal to impose a penalty must state the amount of the penalty.

A warning notice about a proposal—

to suspend an approval, or
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.

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.

A warning notice about a proposal to publish a statement must set out the terms of the statement.

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.

A decision notice about the imposition of a penalty must state the amount of the penalty.

A decision notice about—

the suspension of an approval, or
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.

A decision notice about limiting the period for which an approval is to have effect must state the length of that period.

A decision notice about the publication of a statement must set out the terms of the statement.

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.

Approval" means an approval given under section 59.

"Other interested parties", in relation to a person ("A") in relation to whom approval has been given, are—

the person on whose application the approval was given ("B"); and
the person by whom A's services are retained, if not B.

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