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Section 192L: Procedure and right to refer to Tribunal

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

Part 12A: Powers exercisable in relation to parent undertakings

If a regulator proposes to take action against a person under section 192K, it must give the person 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 publish a statement must set out the terms of the statement.

A warning notice about a proposal to impose a restriction under section 192K(3A) must state—

the terms of the restriction, and
the period for which the restriction is to have effect.

If the regulator decides to take action against a person under section 192K, it must give the person a decision notice.

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

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

A decision notice about the imposition of a restriction under section 192K(3A) must state—

the terms of the restriction, and
the period for which the restriction is to have effect.

If the regulator decides to take action against a person under section 192K, the person may refer the matter to the Tribunal.

About this text

This legislation text comes from legislation.gov.uk. Contains public sector information licensed under the Open Government Licence v3.0. These source and reuse terms cover the legislation text, not Remedy's commentary.

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