Section 16(3)

Regulations made in reliance on subsection (2)— must require the FCA to produce and publish a statement of its policy with respect to the amount of the penalties; may require the policy to include specified matters; may make provision about the procedure for producing the statement; may require copies of the statement to be provided to specified persons; may require the FCA to have regard to a statement published in accordance with the regulations.

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