Section 312FA(1)

If the Bank of England considers that a contravention by a recognised CSD of a relevant requirement occurred with the consent or connivance of, or was attributable to any neglect on the part of, a member of the management body or other person who effectively controls the business of the recognised CSD, the Bank of England may do one or both of the following— publish a statement to that effect; impose on that person a penalty, in respect of the contravention, of such amount as it considers appropriate.

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Source: legislation.gov.uk · retrieved 2026-09-04