[192Z2 Directions and penalties: statement of policy]
Financial Services and Markets Act 2000 (2000 c 8) | Legislation

[192Z2  Directions and penalties: statement of policy]

[(1)     The PRA must prepare and issue a statement of policy with respect to—

(a)     the taking of measures, including directions, under section 192T;

(b)     the imposition of penalties under section 192Y;

(c)     the amount of penalties under that section.

(2)     The PRA's policy in determining what the amount of a penalty should be must include having regard to—

(a)     the seriousness of the contravention;

(b)     the extent to which the contravention was deliberate or reckless; and

(c)     whether the person on whom the penalty is to be imposed is an individual.

(3)     The PRA may at any

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