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Financial Services Bill

200: Clause 16, page 21, line 6, after "determining" insert "whether a penalty should be imposed and" 201: Clause 16, page 21, line 9, at end insert— "(ab) the extent to which the person could reasonably be expected to have known that a controlled function was performed without approval;" 202: Clause 16, page 21, line 13, at end insert— "(2A) The Authority’s policy in determining whether a penalty should be imposed on a person must also include having regard to the appropriateness of taking action against the person instead of, or in addition to, taking action against an authorised person. (2B) A statement issued under this section must include an indication of the circumstances in which the Authority would expect to be satisfied that a person could reasonably be expected to have known that the person was performing a controlled function without approval." Amendments 200 to 202 agreed. Clause 16, as amended, agreed. Clause 17 : Approved persons guilty of misconduct Clause 17 : Approved persons guilty of misconduct Amendment 203 had been withdrawn from the Marshalled List. Amendment 204 Moved by