OFSI has updated its guidance on assessment and monetary penalties in financial sanctions enforcement, in line with the outcome of last year’s consultation. The guidance covers:
- OFSI’s enforcement approach;
- the Early Account Scheme;
- Case assessment;
- the process of imposing a monetary penalty;
- the procedure for imposing a monetary penalty;
- right of review;
- right of appeal;
- paying the penalty;
- publication of penalties and of breaches where no monetary penalty is imposed; and
- how fixed monetary penalties work.