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Sanctions and Anti-Money Laundering Act 2018

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This is the original version (as it was originally enacted).

Regulations under section 49

This section has no associated Explanatory Notes

13(1)Authorise the Financial Conduct Authority and the Commissioners for Her Majesty’s Revenue and Customs to impose civil monetary penalties in relation to the contravention of prescribed requirements.

(2)Authorise supervisory authorities to impose civil penalties (other than monetary penalties) in relation to the contravention of prescribed requirements, including—

(a)the publication of statements of censure,

(b)the suspension or revocation of, or restrictions on, any permission or authorisation granted by a supervisory authority,

(c)the suspension or cancellation of, or restrictions on, a person’s registration as mentioned in paragraph 9, and

(d)restrictions on the holding of management responsibilities.

(3)Authorise an oversight body to—

(a)impose civil monetary penalties, and

(b)publish statements of censure,

in relation to the contravention of prescribed requirements by supervisory authorities.

(4)Make provision in connection with any civil penalties for which provision is made under sub-paragraph (1), (2) or (3), including provision for publishing details of persons who have incurred penalties.

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