If the FCA considers that -

(a) a non-authorised counterparty has contravened -

(i) an SFTR requirement; or

(ii) a requirement imposed by or under this Part;

(b) a person has contravened a requirement imposed under regulation 5 for the purpose of determining whether the person is subject to an SFTR requirement; or

(c) an authorised person has contravened a requirement imposed by regulation 11(4),

the FCA may impose a penalty of such amount as it considers appropriate on the non-authorised counterparty or person.