{
  "url": "https://openlegislation.uk/payment-services-regulations-2017/regulation-111",
  "json_url": "https://openlegislation.uk/payment-services-regulations-2017/regulation-111.json",
  "legislation": "uksi/2017/752",
  "legislation_title": "The Payment Services Regulations 2017",
  "legislation_url": "https://openlegislation.uk/payment-services-regulations-2017",
  "path": "regulation/111",
  "kind": "regulation",
  "number": "111",
  "heading": "Financial penalties",
  "text": "(1) The FCA may impose a penalty of such amount as it considers appropriate on—\n(a) a payment service provider who has contravened a requirement imposed on them by or under these Regulations; ...\n(aa) an authorised payment institution, small payment institution, or registered account information services provider who has contravened a requirement imposed on it by or under section 312R of the 2000 Act; or\n(b) a person who has contravened regulation 138(1) (prohibition on provision of payment services by persons other than payment service providers), 139(1) (false claims to be a payment service provider or exempt) or 142(1)(a) or (2) (misleading a regulator).\n(2) The FCA may not in respect of any contravention both require a person to pay a penalty under this regulation and cancel their authorisation as a payment institution or their registration as a small payment institution or account information service provider (as the case may be).\n(3) A penalty under this regulation is a debt due from that person to the FCA, and is recoverable accordingly.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "Word in reg. 111(1)(a) omitted (29.8.2023) by virtue of Financial Services and Markets Act 2023 (c. 29), s. 86(3), Sch. 2 para. 67(a) (with s. 2(3)); S.I. 2023/779, reg. 4(zz)(iv)"
    },
    {
      "type": "F",
      "label": "F2",
      "text": "Reg. 111(1)(aa) inserted (29.8.2023) by Financial Services and Markets Act 2023 (c. 29), s. 86(3), Sch. 2 para. 67(b) (with s. 2(3)); S.I. 2023/779, reg. 4(zz)(iv)"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/2017/752/regulation/111",
    "retrieved_at": "2026-10-28T23:09:36.065342+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."
}