Related provisions for DEPP 6A.2.4
1 - 3 of 3 items.
The power to impose a suspension
or a restriction is a disciplinary measure which the FSA may use in addition to, or instead of, imposing a financial penalty
or issuing a public censure.
The principal purpose of imposing a suspension or a restriction is to promote
high standards of regulatory and/or market conduct by deterring persons who have committed breaches from
committing further breaches,
helping to deter other persons from
committing similar breaches,
and demonstrating
As the power
to impose a suspension or a restriction is a disciplinary measure, where the FSA considers it necessary to take action, for example, to protect consumers from an authorised
person, the FSA will seek to cancel or vary the authorised
person'spermissions.
If the FSA has
concerns with a person's fitness
to be approved, and considers it necessary to take action, the FSA will
seek to prohibit the approved person or
withdraw its approval.
The following factors may be relevant
to determining the appropriate length of the period of suspension or restriction
to be imposed on a person under
the Act:(1) DeterrenceWhen determining
the appropriate length of the period of suspension or restriction, the FSA will
have regard to the principal purpose for which it imposes sanctions, namely
to promote high standards of regulatory and/or market conduct by deterring persons who have committed breaches from
committing further
The FSA may delay the commencement of the period of suspension or restriction.
In deciding whether this is appropriate, the FSA will take into account all the circumstances of a case. Considerations
that may be relevant in respect of an authorised
person include:(1) the impact of the suspension or
restriction on consumers;(2) any practical measures the authorised person needs to take before the period of suspension or restriction
begins, for example, changes to its systems and