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Section 93: Statement of policy.

Financial Services and Markets Act 2000 · 2000 c. 8View on legislation.gov.uk

Part VI: Official Listing

The FCA must prepare and issue a statement ("its policy statement") of its policy with respect to—

the imposition of penalties under section 91; and
the amount of penalties under that section.

The FCA's policy in determining what the amount of a penalty should be must include having regard to—

the seriousness of the contravention in question in relation to the nature of the requirement contravened;
the extent to which that contravention was deliberate or reckless; and
whether the person on whom the penalty is to be imposed is an individual.

The FCA may at any time alter or replace its policy statement.

If its policy statement is altered or replaced, the FCA must issue the altered or replacement statement.

In exercising, or deciding whether to exercise, its power under section 91 in the case of any particular contravention, the FCA must have regard to any policy statement published under this section and in force at the time when the contravention in question occurred.

The FCA must publish a statement issued under this section in the way appearing to the FCA to be best calculated to bring it to the attention of the public.

The FCA may charge a reasonable fee for providing a person with a copy of the statement.

The FCA must, without delay, give the Treasury a copy of any policy statement which it publishes under this section.

About this text

This legislation text comes from legislation.gov.uk. Contains public sector information licensed under the Open Government Licence v3.0. These source and reuse terms cover the legislation text, not Remedy's commentary.

Reuse reviewed 21 August 2026 under Open Government Licence v3.0.