The GFSC’s approach to sanctioning action is set out in the Sanctioning Guide. The Guide sets out the GFSC’s cross-sectoral sanctioning powers and when and how the GFSC will consider exercising its sanctioning powers, including:
- Aggravating and mitigating factors that it will take into account and
- The methodology for calculating Administrative Penalties.
The GFSC must have regard to this Guide before exercising its sanctioning powers, in accordance with Section 158 of the Financial Services Act 2019.
Download the Sanctioning Guide here.