93 Statement of policy
93 Statement of policy

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

(a)     the imposition of penalties under section 91; 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 in question in relation to the nature of the requirement contravened;

(b)     the extent to which that 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 its policy statement.