(1) The FCA must prepare and issue a statement of its policy with respect to the type and level of administrative sanctions it may impose on a relevant person.
(2) The FCA's policy in determining the type and level of administrative sanctions to be imposed must take into account all relevant circumstances including, where appropriate, the matters referred to in Article 31(1) of the market abuse regulation or Article 43(1) of the EU Benchmarks Regulation 2016.
(3) [deleted]
(4) The FCA may at any time alter or replace a statement issued under this section.
(5) If a statement issued under this section is altered or replaced, the FCA must issue the altered or replacement statement.
(6) When imposing, or deciding whether to impose, an administrative sanction on a relevant person the FCA must have regard to any statement published under this section in force at the time of the contravention.
(7) A statement issued under this section must be published by the FCA in the way appearing to the F
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