Jurisdiction(s):
United Kingdom

Related legal acts

Key definition

Prohibition order definition

What does Prohibition order mean? A prohibition order is a direction by The Pensions Regulator (TPR) banning a person from acting as a trustee of an occupational pension scheme. It is a statutory power under section 3 of the Pensions Act 1995 and may prohibit trustee activity in relation to a named scheme, a class of schemes, or all trust schemes. TPR makes such an order where, having regard to matters including conduct, competence and integrity, it considers the person not fit and proper to be a trustee. Typical triggers include serious or persistent governance failures, misuse of assets, breaches of trust or law, criminal conviction...

FCA and PRA prohibition orders—UK powers, fitness and propriety criteria, procedure, appeals, variation/revocation, publicity and offences

Published by a LexisNexis Financial Services expert

Practice notes

The Lexis+® UK Financial Services Enforcement Database brings together granular details on every substantive FCA and PRA Final Notice and, where obtainable, Decision Notices issued from 2014 to date. The Database can be searched and refined by rule contravention, keyword, sector, date, Prohibition order, financial Penalty, and other actions, including referrals to the Upper Tribunal.

Prohibition orders

Under section 56 of the Financial Services and Markets Act 2000 (FSMA 2000), the Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA) may prohibit individuals who are not fit and proper from performing functions connected to regulated activities carried on by firms. The FCA or PRA may use this power where it considers it appropriate either to stop an individual performing any function in relation to regulated activities, or to limit the functions that individual may perform.

a particular regulated activity
any regulated activity within a specified description of all regulated activities
firms in general, or
any firm within a specified class of firm

The FCA’s approach to prohibition orders is set out in the FCA Handbook, in its Enforcement Guide (ENFG) which applies to all...

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Jankee Gohil

Linklaters

Jankee advises firms on a range of regulatory and compliance matters, with a particular focus on contentious regulatory work. She has significant experience advising asset managers in relation to FCA enforcement investigations and supervisory interventions, including s166 FSMA 2000 reviews and enquiries relating to market abuse. Other recent experience includes advising an unregulated firm under investigation by the FCA for breach of the general prohibition; advising a US headquartered bank in relation to an internal investigation; and advising multiple firms in relation to Ofgem enquiries / investigations. Jankee has also represented an individual in an FCA investigation which was closed with no enforcement action and assisted firm to successfully defend themselves against client complaints, including those referred to the FOS. Jankee’s recent non-contentious experience includes advising a range of firms across the retail and wholesale sectors, as well as unregulated firms, on new and...

Web page updated on 21/05/2026

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