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Version status: In force | Document consolidation status: Updated to reflect all known changes
Version date: 3 July 2016 - onwards
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Regulation 42 Exercise of supervisory powers and imposition of sanctions

The assessor, when determining the appropriate sanction or sanctions under Regulation 35(8)(c), shall take into account all relevant circumstances including, where appropriate:

(a) the gravity and duration of the prescribed contravention;

(b) the degree of responsibility of the assessee for the prescribed contravention;

(c) the financial strength of the assessee, as indicated, for example, by total turnover where the assessee is a body corporate or unincorporated body, or by annual income where the assessee is a natural person;

(d) the importance of the profits gained or losses avoided by the assessee, insofar as they can be determined;

(e) the level of cooperation of the assessee with the Bank and assessor, without prejudice to the need to ensure disgorgement of profits gained or losses avoided by the assessee;

(f) previous prescribed contraventions by the assessee;

(g) measures taken by the assessee to prevent repetition of any prescribed contravention.

Comparing proposed amendment...