Section 77(2)

The FCA may take one or more of the measures set out in sub-paragraphs (a) and (b)— to cancel or suspend, for such period as it considers appropriate— any permission which an authorised person has to carry on a regulated activity; the authorisation of a payment service provider as an authorised payment institution under the Payment Services Regulations 2017; the registration of a payment service provider as a small payment institution under the Payment Services Regulations 2017; the authorisation of a payment service provider as an authorised electronic money institution under the Electronic Money Regulations 2011 ; or the registration of a payment service provider as a small electronic money institution under the Electronic Money Regulations 2011; to impose, for such period as it considers appropriate, such limitations or other restrictions as it considers appropriate— in relation to the carrying on of a regulated activity by an authorised person; on the authorisation of a payment service provider as a payment institution under the Payment Services Regulations 2017; on the registration of a payment service provider as a small payment institution under the Payment Services Regulations 2017; on the authorisation of a payment service provider as an electronic money institution under the Electronic Money Regulations 2011; or on the registration of a payment service provider as a small electronic money institution under the Electronic Money Regulations 2011.

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