Schedule 11, Part 6, paragraph 138

If the Bank proposes to impose a sanction on a person under paragraph 136(1) or (3) it must give that person a warning notice. Section 387 of FSMA 2000 applies in relation to a warning notice given under sub-paragraph (1) and to the Bank as it applies in relation to a warning notice given under that Act and to the regulator which gave that notice, subject to sub-paragraphs (3) and (4). In complying with section 387(1)(a) of that Act, a warning notice must in particular— if it is about a proposal to publish a statement, set out the terms of the statement, if it is about a proposal to impose a penalty, specify the amount of the penalty, if it is about a proposal to direct a person to refrain from certain conduct, specify the conduct, and if it is about a proposal to impose a prohibition on holding an office or other position, specify the extent of the prohibition. For the purposes of sub-paragraph (2), section 387 of that Act has effect as if subsections (1A) and (3A) were omitted.

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Source: legislation.gov.uk · retrieved 2026-09-04