Section 40(2)

If, in the case of a contravention by a person (P) of an applicable provision, the FCA considers that a person who was at the material time a relevant officer of P was knowingly concerned in the contravention, it may impose on that person a penalty of such amount as it considers appropriate.

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Source: legislation.gov.uk · retrieved 2026-09-04 · Text as consolidated on 2026-01-19; changes after this date are not shown.