Persons subject to enforcement action may be prepared to agree on the amount of any financial penalty, and other conditions which the DFSA seeks to impose by way of such action. Such conditions might include, for example, the amount or mechanism for the payment of compensation to consumers. The DFSA recognises the benefits of such agreements, in that they offer the potential for securing earlier redress or protection for consumers and the saving of cost to the Person concerned, and the DFSA itself, in contesting the financial penalty. The financial penalty that might otherwise be payable, in respect of a contravention by the Person concerned, will, therefore, be reduced to reflect the timing of any settlement agreement.
Inserted (Made 21st August 2014). August 2014 Edition