93 Statement of policy.U.K.
(1)The [F1FCA] 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 [F1FCA'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 [F1FCA] may at any time alter or replace its policy statement.
(4)If its policy statement is altered or replaced, the [F1FCA] must issue the altered or replacement statement.
(5)In exercising, or deciding whether to exercise, its power under section 91 in the case of any particular contravention, the [F1FCA] must have regard to any policy statement published under this section and in force at the time when the contravention in question occurred.
(6)The [F1FCA] must publish a statement issued under this section in the way appearing to the [F1FCA] to be best calculated to bring it to the attention of the public.
(7)The [F1FCA] may charge a reasonable fee for providing a person with a copy of the statement.
(8)The [F1FCA] must, without delay, give the Treasury a copy of any policy statement which it publishes under this section.
Textual Amendments
F1Words in ss. 89A-97 substituted (24.1.2013 for specified purposes, 1.4.2013 in so far as not already in force) by Financial Services Act 2012 (c. 21), ss. 16(2)(3)(g), 122(3) (with Sch. 20); S.I. 2013/113, art. 2(1)(c), Sch. Pt. 3; S.I. 2013/423, art. 3, Sch.