Section 16(2)

The regulations may require or enable the FCA— to set the amount or maximum amount of, or of an increase in, a penalty imposed in respect of failure to comply with a requirement imposed by the FCA in exercise of a power conferred by regulations under section 14 (whether imposed by means of FCA interface rules or an FCA additional requirement), or to set the method for determining such an amount.

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