6.3.2

The criteria for determining whether it is appropriate to issue a public censure or other enforcement action (rather than impose a financial penalty) include those factors that we will consider in determining the amount of a financial penalty, as set out in paragraphs 6.5 to 6.7. In particular, considerations that may be relevant when we determine the penalty are:

(a) whether deterrence may be effectively achieved by issuing a public censure;
(b) whether the person has brought the contravention to our attention;
(c) whether the person has admitted the contravention and provides full and immediate co-operation to us, and takes steps to ensure that those who have suffered loss due to the contravention are fully compensated for those losses; and
(d) our approach to previous similar cases — we will aim for a consistent approach.