Related provisions for LR 10.5.3
81 - 100 of 153 items.
(1) If the FSA considers the figure arrived at after Step 3 is insufficient to deter the individual who committed the breach, or others, from committing further or similar breaches then the FSA may increase the penalty. Circumstances where the FSA may do this include:(a) where the FSA considers the absolute value of the penalty too small in relation to the breach to meet its objective of credible deterrence;(b) where previous FSA action in respect of similar breaches has failed
The FSA may depart from the approach set out in DEPP 6A.4.2 G.
For example, the FSA may
at the outset consider that a financial penalty is the only appropriate sanction
for a breach but, having determined
the appropriate level of financial penalty, may consider it appropriate to
reduce the amount of the financial penalty for serious financial hardship
reasons. In such a situation, the FSA may consider it appropriate to impose a suspension or restriction
even if the FSA at
the
The following events are examples of events likely to affect an assessment of whether an overseas recognised body is continuing to satisfy the recognition requirements, or to have an effect on competition:(1) significant changes to any relevant law or regulation in its home territory, including laws or regulations:(a) governing exchanges or clearing houses;(b) designed to prevent insider dealing, market manipulation or other forms of market abuse or misconduct;(c) designed to
In determining whether a UK recognised body has effective arrangements for monitoring and enforcing compliance with its rules (and, in the case of a UK RIE, its settlement arrangements), the FSA may have regard to:(1) the UK recognised body's ability to:(a) monitor and oversee the use of its facilities;(b) assess its members' compliance with its rules (and settlement arrangements, where appropriate);(c) assess the significance of any non-compliance;(d) take appropriate disciplinary
The FSA's policy on individual guidance is set out in SUP 9. Firms should in particular note the policy on what the FSA considers to be a reasonable request for guidance (see SUP 9.2.5 G). For example, where a firm is seeking guidance on a proposed remuneration structure the FSA will expect the firm to provide a detailed analysis of how the structure complies with the Remuneration Code, including the general requirement for remuneration policies, procedures and practices to be
In determining a person's honesty, integrity and reputation, the FSA will have regard to all relevant 3matters including, but not limited to, those set out in FIT 2.1.3 G which may have arisen either in the United Kingdom or elsewhere. The FSA should be informed of these matters (see SUP 10.13.16 R ), but will consider the circumstances only where relevant to the requirements and standards of the regulatory system. For example, under FIT 2.1.3 G(1), conviction for a criminal