Entire Section

  • Step 4: Adjustment for deterrence

    • RPP 6-6-9

      If the DFSA considers the figure arrived at after Step 3 is insufficient to deter the individual who committed the contravention, or others, from committing further or similar contraventions then the DFSA may increase the financial penalty. Circumstances where the DFSA may do this include:

      (a) where the DFSA considers the absolute value of the penalty too small in relation to the contravention to meet its objective of credible deterrence;
      (b) where previous DFSA action in respect of similar contraventions has failed to improve industry standards. This may include similar contraventions relating to different products;
      (c) where the DFSA considers it is likely that similar contraventions will be committed by the individual or by other individuals in the future; and
      (d) where the DFSA considers that the likelihood of the detection of such a contravention is low.
      Inserted (Made 21st August 2014). August 2014 Edition