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Version status: In force | Document consolidation status: Updated to reflect all known changes
Version date: 29 August 2023 - onwards
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Regulation 111 Financial penalties

(1) The FCA may impose a penalty of such amount as it considers appropriate on -

(a) a payment service provider who has contravened a requirement imposed on them by or under these Regulations;

(aa) an authorised payment institution, small payment institution, or registered account information services provider who has contravened a requirement imposed on it by or under section 312R of the 2000 Act; or

(b) a person who has contravened regulation 138(1) (prohibition on provision of payment services by persons other than payment service providers), 139(1) (false claims to be a payment service provider or exempt) or 142(1)(a) or (2) (misleading a regulator).

(2) The FCA may not in respect of any contravention both require a person to pay a penalty under this regulation and cancel their authorisation as a payment institution or their registration as a small payment institution or account information service provider (as the case may be).

(3) A penalty under this regulation is a debt due fro

Comparing proposed amendment...