66 Disciplinary powers
Financial Services and Markets Act 2000 (2000 c 8) | Legislation

66  Disciplinary powers

(1)     [A regulator] may take action against a person under this section [(whether or not it has given its approval in relation to the person)] if—

(a)     it appears to the [regulator] that he is guilty of misconduct; and

(b)     the [regulator] is satisfied that it is appropriate in all the circumstances to take action against him.

[(1A)     For provision about when a person is guilty of misconduct for the purposes of action by a regulator—

(a)     see section 66A, in the case of action by the FCA, and

(b)     see section 66B, in the case of action by the PRA.]

[(2)     . . .

(2A)     . . .]

(3)     If the [regulator] is entitled to take action under this section against a person, [it may do one

Powered by Lexis+®
 

Popular documents

LEXISNEXIS

Qualified one-way costs shifting (QOCS)

Qualified one-way costs shifting (QOCS)What is QOCS?Qualified one-way costs shifting (QOCS) was introduced on 1 April 2013 as part of the Jackson costs reforms following the removal of a claimant’s right to recover additional liabilities from the defendant, ie success fees and after the event (ATE)

LEXISNEXIS

The Standard Conditions of Sale (5th edition: 2018 revision)—a guide to the main provisions

The Standard Conditions of Sale (SCS), currently in their 5th edition (2018 revision), are a set of standard conditions which are commonly incorporated into contracts for the sale of residential property. The Standard Commercial Property Conditions (Third Edition—2018 Revision) (SCPC) are used for

LEXISNEXIS

Common financial covenants

Common financial covenantsThis Practice Note explains certain common financial covenants used in commercial finance transactions including:•minimum net worth test•gearing ratio•leverage ratio (or debt to equity ratio)•current ratio (or acid test ratio)•cashflow ratio•interest cover ratio, and•loan

LEXISNEXIS

Defects liability period and rectification of defects

Defects liability period and rectification of defectsIt is common in construction projects for defects to manifest or appear in the works. Most construction contracts require the contractor to return to site to rectify (also known as ‘make good’) defects which arise or are discovered during a