Financial penalties imposed by the Bank under the Financial Services and Markets Act 2000 or under Part 5 of the Banking Act 2009 - Policy Statement

First published on 1 April 2013

Updated 12 November 2024

Policy statement

This statement of policy publishes the final statements of policy relating to the enforcement powers of the Bank of England. It contains an overview of the Bank’s investigatory and enforcement powers under the various statutory regimes for which it has regulatory responsibility. In relation to financial market infrastructures supervised by the Bank, it contains:

• policy on the imposition and amount of financial penalties;
• policy on prohibitions under section 312FA of the Financial Services and Markets Act 2000;
• procedures on enforcement statutory notices, decision-making in uncontested cases, and settlement of enforcement cases;
• procedures on publishing information about enforcement statutory notices; and
• further procedures, including use of the Early Account Scheme and the conduct of interviews at the request of overseas regulators.

Current version

Published on 12 November 2024. Effective from 12 November 2024. 

Statement of policy - The Bank of England’s approach to enforcement: statements of policy and procedure – November 2024 (PDF) 

- Following Policy Statement: The Bank of England’s approach to enforcement: changes to statements of policy and procedure following the Financial Services and Markets Act 2023 

Past version

Published on 30 January 2024. Effective from 30 January 2024

Statement of policy – The Bank of England’s approach to enforcement: statements of policy and procedure – January 2024 (PDF)

Following PS1/24 – the Bank of England’s approach to enforcement

Published on 1 April 2013. No longer effective (superseded by January 2024 version)

Statement of policy financial penalties CP supervision of FMIs (PDF)