{
  "url": "https://openlegislation.uk/credit-rating-agencies-amendment-etc-eu-exit-regulations-2019/regulation-7",
  "json_url": "https://openlegislation.uk/credit-rating-agencies-amendment-etc-eu-exit-regulations-2019/regulation-7.json",
  "legislation": "uksi/2019/266",
  "legislation_title": "The Credit Rating Agencies (Amendment etc.) (EU Exit) Regulations 2019",
  "legislation_url": "https://openlegislation.uk/credit-rating-agencies-amendment-etc-eu-exit-regulations-2019",
  "path": "regulation/7",
  "kind": "regulation",
  "number": "7",
  "heading": "Financial penalties",
  "text": "(1) If the FCA considers that a person has contravened a requirement imposed by or under these Regulations, or by or under the CRA Regulation, it may impose a penalty on the person of such amount as it considers appropriate.\n(2) A penalty imposed under this regulation—\n(a) is payable to the FCA, and\n(b) may be recovered as a debt due to the FCA.\n(3) In imposing, or deciding whether to impose, a penalty under this regulation, the FCA must have regard to a statement of policy published under regulation 8 and in force at the time when the contravention occurred.",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "Word in reg. 7(1) substituted (31.12.2020 immediately before IP completion day) by The Securities Financing Transactions, Securitisation and Miscellaneous Amendments (EU Exit) Regulations 2020 (S.I. 2020/1385), regs. 1(4), 50(2)(a)"
    },
    {
      "type": "I",
      "label": "I1",
      "text": "Reg. 7 in force at 31.12.2020 on IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 1(3)"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/2019/266/regulation/7",
    "retrieved_at": "2026-10-28T22:47:22.552015+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}