124 Statement of policy
124 Statement of policy

[(1)     The FCA must prepare and issue a statement of its policy with respect to the type and level of administrative sanctions it may impose on a relevant person.

(2)     The FCA's policy in determining the type and level of administrative sanctions to be imposed must take into account all relevant circumstances including, where appropriate, the matters referred to in Article 31(1) of the market abuse regulation [or Article 43(1) of the EU Benchmarks Regulation 2016].]

(3)     . . .

(4)     The [FCA] may at any time alter or replace a statement issued under this section.

(5)     If a statement issued under this section is altered or replaced, the [FCA] must issue the altered or replacement statement.