EN-1.1.3
Past version: Effective from 01 Oct 2007 to 30 Sep 2010
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In deciding any given regulatory response, the Central Bank will nonetheless consistently assess the individual circumstance of each contravention against the principles described in this Module. The Central Bank's overall approach is to take into account:
(a) the seriousness of the contravention concerned (including the risks posed to the licensee's customers and other market participants);
(b) the compliance track record of the licensee concerned (including the extent to which the contravention reflects systemic weaknesses or reckless behaviour); and
(c) which measures are most likely to achieve the desired result of remedying the contravention.