Enforcing the Law
Section 7 of the FSA lays down the administrative sanctions which the FSC may impose. These sanctions are backed by other enforcement powers that enable the FSC, the Chief Executive, the Enforcement Committee and/or the Settlement Committee, to take actions and/or impose sanctions which may include:
- suspending a licence;
- revoking a licence;
- disqualification of officers of a licensee;
- giving directions;
- issuing public censure;
- imposing administrative penalties;
- request for information and production of such records or documents by a licensee;
- appoint an administrator/special administrator/conservator in relation to the whole or part of the business activities of a person whose licence has been suspended, revoked or otherwise terminated;
- applying to the Judge in Chambers for freezing assets of the licensee;
- applying to the courts for injunction and restitution orders; and
- with the consent of the Director of Public Prosecutions, prosecuting various offences
