MIR 6.10.4

If the Regulator considers that a qualifying parent undertaking of a Recognised Body has contravened a requirement of a direction given by the Regulator, or a provision of rules made by the Regulator, it may:

(a) impose a penalty of such amount as it considers appropriate on the qualifying parent undertaking of the Recognised Body, or any Person who was knowingly concerned in the contravention; or
(b) publish a statement censuring the Person.