ENF 21.1 Application and Purpose of this chapter

ENF 21 applies to persons whose conduct is covered by any provision imposed by or under Part VI of the Act (for example, the Part 6 rules). This includes directors and formers directors who may have been knowingly involved in a relevant contravention.

In this chapter, and unless the context so requires, references to FSA are to the FSA when it is performing functions as the competent authority under Part VI of the Act (see section 72(1)).

The purpose of:

1. (1)

   ENF 21.2 to ENF 21.4 is to explain the FSA's policy on how it will use its powers to investigate in support of its enforcement functions;

2. (2)

   ENF 21.5 to ENF 21.9 is to describe the FSA's approach to discipline;

3. (3)

   ENF 21.10 is to explain the FSA's policy on how it will use its power to cancel a sponsor's approval.

Section 93 of the Act (Statement of policy) requires the FSA to prepare and publish a statement of its policy with respect to the imposition and amount of penalties under section 91. ENF 21.6 to ENF 21.7 constitute the FSA's statement of policy under section 93. The FSA may at any time alter or replace this statement of policy after consultation. The FSA will have regard to this statement of policy in exercising, or deciding whether to exercise, its power under section 91 of the Act (Penalties for breach of Part 6 rules).