Regulation 11 Financial penalties

(1)

If the FCA considers that a Miscellaneous BM person has contravened a relevant requirement, it may impose a penalty of such amount as it considers appropriate on—

(a)

the Miscellaneous BM person;

(b)

a member of the management body of the Miscellaneous BM person if the FCA considers the member is responsible for the contravention;

(c)

another member of the senior management of the Miscellaneous BM person if the FCA considers the member is responsible for the contravention.

(2)

A penalty imposed under this regulation is payable to the FCA and may be recovered as a debt owed to the FCA.

Notes on the whole SI

Textual amendments

F1: Regulations revoked (14.12.2023 for the revocation of reg. 68) by Financial Services and Markets Act 2023 (c. 29), s. 86(3), Sch. 1 Pt. 2 (with s. 1(4)); S.I. 2023/1382, reg. 2(c)(xxi)