Schedule 10, paragraph 8(5)

After paragraph 1 insert— In deciding the appropriate action to take under this Article, the FCA must, among other things, take into account the nature and seriousness of the risk posed to the interests of investors and the orderly functioning of markets in the United Kingdom, having regard to— the duration and frequency of the risk arising, whether the risk has revealed serious or systemic weaknesses in the third-country firm's procedures, whether financial crime has been occasioned or facilitated by, or is otherwise attributable to, the risk, and whether the risk has arisen intentionally or negligently. The FCA must inform the competent authority of the third country in due course of its intention to take action in accordance with paragraph A1 or 1.

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