Date-stamp loading
Version status: In force | Document consolidation status: Updated to reflect all known changes
Version date: 3 July 2016 - onwards
  Version 2 of 2    

Regulation 41 Sanctions that may be imposed by Bank

(1) In the case of an adverse assessment, the Bank may impose on the assessee one or more of the following sanctions as specified by the assessor under Regulation 35(8)(c);

(a) a direction ordering the assessee to cease the prescribed contravention and to take such measures as are necessary to prevent a repeat of the prescribed contravention;

(b) the disgorgement of the profits gained or losses avoided due to the prescribed contravention insofar as they can be determined;

(c) a private caution or reprimand;

(d) a public warning that identifies the assessee and the nature of the prescribed contravention;

(e) withdrawal and suspension of the authorisation of any regulated financial service provider;

(f) a direction disqualifying the assessee from being concerned in the management of, or having a qualifying holding in, any regulated financial service provider for such time as is specified in the order;

(g) in the case of repeated contraventions of Article 14 or 15 of the Market Abuse Regu

Comparing proposed amendment...