In assessing whether to serve a financial written penalty notice, the CBB takes into account the following criteria:

(a) the seriousness of the contravention, in relation to the requirement(s) concerned;
(b) the duration and/or frequency of the contravention, and the extent to which it reflects more widespread weaknesses in controls and/or management; the extent to which the contravention was deliberate or reckless;
(c) the licensee's or listed company's past compliance record and conduct following the contravention; and
(d) the scope of any other action taken by the CBB or other regulators against the licensee or listed company in response to the compliance failures in question.

Additional criteria are set out in Appendix A.

Added: July 2021