# The Data Reporting Services Regulations 2023, Regulation 27: FCA: penalties, fees and exemption from liability in damages


(1) Paragraphs 19 to 23 (penalties and fees) and 25 (exemption from liability in damages) of Schedule 1ZA to FSMA 2000 apply with respect to the discharge by the FCA of its functions under these Regulations as they apply with respect to the discharge by it of its functions under FSMA 2000, with the following modifications.
(2) Those paragraphs apply as if—
(a) each reference to penalties imposed under that Act included a reference to penalties imposed under these Regulations;
(b) each reference to a section or Part of that Act included a reference to that section or Part as applied by these Regulations;
(c) each reference to the functions of the FCA included a reference to its functions under these Regulations.
(3) Paragraph 20 applies as if references to the FCA’s enforcement powers included—
(a) its powers under these Regulations and under Part 25 of FSMA 2000 as applied by these Regulations;
(b) its powers in relation to investigation of offences under these Regulations or under FSMA 2000 as applied by these Regulations;
(c) its powers in England and Wales or Northern Ireland in relation to the prosecution of offences under these Regulations or under FSMA 2000 as applied by these Regulations.
(4) Paragraph 21 applies as if regulated persons included data reporting service providers.
(5) Paragraph 23 applies as if references to qualifying functions included references to the functions of the FCA under these Regulations and under FSMA 2000 as applied by these Regulations.
(6) Paragraph 25 applies as if sub-paragraph (1A) were omitted.

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Source: https://www.legislation.gov.uk/ukdsi/2023/9780348254273/regulation/27 (the official version)
Page: https://openlegislation.uk/draft-data-reporting-services-regulations-2023/regulation-27
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.