# The Financial Services and Markets Act 2000 (Markets in Financial Instruments) Regulations 2017, Paragraph 11: Financial penalties


(1) If the appropriate regulator considers that a person (“P”) has contravened a requirement imposed by or under these Regulations or by Article 28 of the markets in financial instruments regulation, it may impose a penalty of such amount as it considers appropriate on—
(a) P;
(b) a member of the management body of P if the appropriate regulator considers the person is responsible for the contravention;
(c) another member of the senior management of P if the appropriate regulator considers the person is responsible for the contravention.
(2) A penalty imposed under this paragraph is payable to the regulator that imposed the penalty and may be recovered as a debt owed to that regulator.

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Source: https://www.legislation.gov.uk/uksi/2017/701/schedule/1/paragraph/11 (the official version)
Page: https://openlegislation.uk/financial-services-and-markets-act-2000-markets-in-financial-instruments-regulations-2017/schedule-1/paragraph-11
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.