The Prudential Regulation Authority and Financial Conduct Authority have wide ranging powers, including:
- Withdrawing a firm's authorization
- Prohibiting individuals from carrying on regulated activities
- Suspending firms and individuals from undertaking regulated activities
- Issuing unlimited fines against firms and individuals that breach rules
- Making a public announcement when beginning disciplinary action and publishing details of warning, decision and final notices
- Applying to the courts for injunctions, restitution orders, winding-up and other insolvency orders