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Version status: In force | Document consolidation status: Updated to reflect all known changes
Version date: 21 March 2016 - onwards
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Regulation 132B Effective application of sanctions and exercise of powers to impose sanctions

(1) When determining the type of penalties or measures and the level of penalties to be imposed in respect of a contravention of these Regulations, the Bank shall ensure that they are effective, proportionate and dissuasive and take into account all relevant circumstances, including, where appropriate -

(a) the gravity and the duration of the contravention,

(b) the degree of responsibility of the person responsible for the contravention,

(c) the financial strength of the person responsible for the contravention as indicated, for example, by its total turnover in the case of a legal person or the annual income in the case of a natural person,

(d) the importance of the profits gained or losses avoided by the person responsible for the contravention, the damage to other persons and, where applicable, the damage to the functioning of markets or the wider economy, in so far as they can be determined,

(e) the level of cooperation with the Bank of the person responsible for the contravention,

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