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  1. Point in time
    2007-07-06

ENF 9.9 Other relevant powers

ENF 9.9.1G

The FSA may apply to the court for an injunction if it appears that a person, whether authorised or not, is reasonably likely to breach a requirement of the Act or engage in market abuse. It can also apply for an injunction if a person has breached a requirement of the Act or engaged in market abuse and is likely to continue doing so. The FSA's procedure in relation to the exercise of its powers to apply for injunctions is set out in ENF 6 (Injunctions).

ENF 9.9.2G

The FSA may consider taking disciplinary action, or action to impose a penalty for market abuse, as well as seeking restitution, if a person has breached a relevant requirement of the Act or has engaged in, or required or encouraged others to engage in, market abuse. As restitution is essentially restorative it may often be appropriate for the FSA to take disciplinary action. Disciplinary action, or action to impose a penalty for market abuse, may take the form of either:

  1. (1)

    imposing a financial penalty: the FSA's policy and procedures in relation to imposing financial penalties is set out in ENF 13 (Financial penalties against firms and approved persons) and ENF 14 (Sanctions for market abuse); or

  2. (2)

    making a public statement of misconduct or public censure: the FSA's policy and procedure in relation to public statements of misconduct is set out in ENF 12 (Public statements of misconduct about firms and approved persons) and ENF 14 (Sanctions for market abuse).

ENF 9.9.3G

The FSA may consider exercising its power to prosecute offences under the Act, as well as applying to seek restitution if a person has breached certain requirements of the Act. The offences the FSA has power to prosecute, and the FSA's policy and procedure in relation to the prosecution of these offences, are set out in ENF 15 (Prosecution of criminal offences).