Member

Government amendment 27 introduces additional sanctions, specifically monetary penalties, and the ability to amend the amount of fines, enhancing the range of tools available to the commissioner to tackle inappropriate or unlawful practice by unregistered advisers and to shore up standards. Monetary penalties may be imposed up to a maximum of £15,000 on each regulated organisation that has breached the commissioner’s codes of standards, obstructed an inspection or failed to comply with regulations.