The FCA is consulting on changes to DEPP to improve transparency and consistency, and to keep it up to date with how the FCA works in practice.
It wants to make a few targeted changes including:
- raising the minimum fine for individuals in the most serious market abuse cases to £150,000;
- clarifying that penalties may be larger for wealthy individuals for deterrent effect;
- raising the thresholds for pleading serious financial hardship; and
- consequential amendments to extend the framework to cryptoasset market abuse.
Consultation closes on 10 August.