(1) If the FCA considers that a Miscellaneous BM person has contravened a relevant requirement, it may impose a penalty of such amount as it considers appropriate on -

(a) the Miscellaneous BM person;

(b) a member of the management body of the Miscellaneous BM person if the FCA considers the member is responsible for the contravention;

(c) another member of the senior management of the Miscellaneous BM person if the FCA considers the member is responsible for the contravention.

(2) A penalty imposed under this regulation is payable to the FCA and may be recovered as a debt owed to the FCA.