Penalties and Costs: A private warning is an inappropriate sanction where the issues are in the public domain and there had been significant and several breaches of rules. Public censure whilst itself a significant penalty is not appropriate where the breaches are serious. A fine was the only appropriate penalty. Adverse publicity generated during the course of public tribunal proceedings should not be taken into account as a mitigating factor in considering the amount of damages to b ...
|
An applicant who conceals information from the FSA and does not when challenged offer a full and candid explanation and apology may well be deemed at risk of not complying with Principle 11.
|
| 1 |