If it appears to the FCA that an auditor has failed to comply with a duty imposed on the auditor by contractual scheme rules, it may do one or more of the following—
disqualify the auditor from being the auditor of any authorised unit trust scheme, authorised contractual scheme or authorised open-ended investment company;
publish a statement to the effect that it appears to the FCA that the auditor has failed to comply with the duty;
impose on the auditor a penalty, payable to the FCA, of such amount as the FCA considers appropriate.
Sections 345B to 345E have effect in relation to the taking of action under subsection (1) as they have effect in relation to the taking of action under section 345(2).