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  2. Point in time
    2011-12-31

DEPP 6.1 Introduction

DEPP 6.1.1GRP

1DEPP 6 includes the FSA's statement of policy with respect to the imposition and amount of penalties under the Act, as required by sections 63C(1), 269(1), 93(1), 124(1), 131J(1) 2and 210(1) of the Act.

DEPP 6.1.2GRP

The principal purpose of imposing a financial penalty or issuing a public censure is to promote high standards of regulatory and/or market conduct by deterring persons who have committed breaches from committing further breaches, helping to deter other persons from committing similar breaches, and demonstrating generally the benefits of compliant behaviour. Financial penalties and public censures are therefore tools that the FSA may employ to help it to achieve its regulatory objectives.