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You are viewing the version of the document as on 2024-12-10.

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    2024-12-10

DEPP 6.1 Introduction

DEPP 6.1.1GRP

1DEPP 6 includes the FCA's3 statement of policy with respect to the imposition and amount of penalties under the Act, as required by sections 63C(1), 269(1), 88C, 89S, 393(1), 124(1), 131J(1), 192N, 3 2 210(1), 312J and 345D3 of the Act.

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DEPP 6.1.1AG

4DEPP 6 includes the FCA’s statement of policy with respect to the imposition and amount of penalties under:

  1. (1)

    Regulation 9(1)(c) and (d) of the UK Securitisation Regulations; and

  2. (2)

    Regulation 46(1)(c) and (d) of the Securitisation Regulations 2024.

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 FCA3 may employ to help it to achieve its statutory objectives3.

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