{
  "url": "https://openlegislation.uk/credit-rating-agencies-amendment-etc-eu-exit-regulations-2019/regulation-8",
  "json_url": "https://openlegislation.uk/credit-rating-agencies-amendment-etc-eu-exit-regulations-2019/regulation-8.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/8",
  "kind": "regulation",
  "number": "8",
  "heading": "Statement of policy",
  "text": "(1) The FCA must prepare and issue a statement of policy with respect to—\n(a) the imposition of penalties under regulation 7, and\n(b) the amount of penalties under that regulation.\n(2) The FCA's policy in determining what the amount of a penalty should be must include having regard to—\n(a) the seriousness of the contravention (in relation to the nature of the requirement contravened), and\n(b) the extent to which the contravention is deliberate or reckless.\n(3) The FCA may at any time alter or replace a statement issued under this regulation.\n(4) If a statement issued under this regulation is altered or replaced by the FCA, the FCA must issue the altered or replacement statement.\n(5) The FCA must, without delay, give the Treasury a copy of any statement which it issues under this regulation.\n(6) A statement issued under this regulation by the FCA must be published by the FCA in the way appearing to the FCA to be best calculated to bring it to the attention of the public.\n(7) The FCA may charge a reasonable fee for providing a person with a copy of the statement.",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "Word in reg. 8(7) 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)(b)"
    },
    {
      "type": "I",
      "label": "I1",
      "text": "Reg. 8 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/8",
    "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."
}