# The Credit Rating Agencies (Amendment, etc.) (EU Exit) Regulations 2019, Regulation 7: Financial penalties


(1) If the FCA considers that a credit rating agency has contravened a requirement imposed by or under these Regulations, or by or under the CRA Regulation, it may impose a penalty on the credit rating agency of such amount as it considers appropriate.
(2) A penalty imposed under this regulation—
(a) is payable to the FCA, and
(b) may be recovered as a debt due to the FCA.
(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.

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Source: https://www.legislation.gov.uk/ukdsi/2019/9780111176696/regulation/7 (the official version)
Page: https://openlegislation.uk/draft-credit-rating-agencies-amendment-etc-eu-exit-regulations-2019/regulation-7
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.