Entire Section
RPP 5-8 RPP 5-8 Fines
RPP 5-8-1
The
DFSA may seek to impose a fine under Article 90 on aPerson whom it considers has contravened a provision of the Law. TheDFSA may impose a fine in any amount considered appropriate.Added by Notice of Updates (Made 23rd November 2014). November 2014 EditionRPP 5-8-2
In determining whether to impose a fine and the quantum of the fine, the
DFSA will take into consideration the circumstances of the conduct and will be guided by the penalty guidance set out in chapter 6 of the RPP.Added by Notice of Updates (Made 23rd November 2014). November 2014 EditionRPP 5-8-3
The decision to impose a fine on a
Person will be made by the DMC.Added by Notice of Updates (Made 23rd November 2014). November 2014 EditionRPP 5-8-4
Prior to making a decision, the DMC will follow the procedures set out in Schedule 3 of the
Regulatory Law (see also chapter 7 of the RPP).Added by Notice of Updates (Made 23rd November 2014). November 2014 EditionRPP 5-8-5
If a
Person receives a notice imposing a fine and does not pay the full amount of the fine, theDFSA may recover so much of the fine as remains outstanding as a debt due, together with costs incurred by theDFSA in recovering such amount.Added by Notice of Updates (Made 23rd November 2014). November 2014 Edition