EN-B.2.7

Past version: Effective from 19 Jul 2025 to 30 Jun 2007
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Where a significant element of judgment is required to assess compliance with a requirement, the BMA will usually discuss the matter with the person concerned, before using one of this Module's enforcement mechanisms. This is likely to be the case, for example, with respect to requirements for adequate systems and controls. Conversely, where there are clear-cut contraventions of BMA requirements, then the BMA will usually resort immediately to one or more of these enforcement mechanisms. This is more likely to occur in cases where quantitative requirements — such as those relating to capital adequacy — are concerned. In most such cases, though, the BMA also expects to continue an active dialogue with the person concerned, aimed at remedying the contravention.