[143Y Statement of policy for penalties under section 143W]

[143Y  Statement of policy for penalties under section 143W]

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

(a)     the imposition of penalties under section 143W, and

(b)     the amount of penalties under that section.

(2)     The FCA'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 FCA may at any time alter or replace a statement

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