[87LA Power of FCA to suspend or prohibit trading on a trading facility]
[87LA Power of FCA to suspend or prohibit trading on a trading facility]

[(1)     This section applies in relation to the trading of transferable securities on a trading facility.

(2)     If—

(a)     the FCA has reasonable grounds for suspecting that an applicable provision has been infringed, and

(b)     the securities have not yet been traded on the trading facility in question,

the FCA may require the person who proposes to trade the securities to suspend taking any action to implement the proposal for a period not exceeding 10 working days.

(3)     If—

(a)     the FCA has reasonable grounds for suspecting that an applicable provision has been infringed, and

(b)     the securities have been traded on the trading facility in question,