Part II Establishments and agencies

Financial regulation (England)

F130ZMPower of Secretary of State to impose monetary penalties

(1)

The Secretary of State may impose a monetary penalty on a person if the Secretary of State is satisfied on the balance of probabilities that the person has failed to comply with—

(a)

any requirement imposed by or under section 30ZE, 30ZG, 30ZH or 30ZI (financial oversight);

(b)

any requirement imposed by or under regulations under section 30ZK or 30ZL (power to limit profits).

(2)

See Schedule 1A for further provision about monetary penalties under this section.

(3)

The Secretary of State may publish information about monetary penalties imposed under this section, including information identifying—

(a)

the persons on whom penalties were imposed,

(b)

the dates they were imposed,

(c)

the grounds for imposing them, and

(d)

their amounts.