Scheme management enforcement policy

Introduction

Who this enforcement policy is for, our overall approach and updates to the policy.

How we identify and respond to risks and harm, and prioritise our enforcement action.

Our approach to investigations, information gathering and non-compliance with our information-gathering powers.

The factors that shape our enforcement approach and when we decide to use our enforcement powers.

The enforcement outcomes we look to achieve including prevention, remedy, restoration, deterrence and settlement.

The enforcement options we have available including regulatory, penalty, civil and criminal powers.

Our approach when we may be to able use more than one enforcement option and examples of this in practice.

The policies and procedures that our teams and the Determinations Panel will follow when using our enforcement powers.

Challenging regulatory decisions by the Determinations Panel, under the staff determination procedure and other regulatory decisions.

Our approach to recovering debt arising from financial penalties that we issue.

How we measure the impact of our enforcement approach by evaluating the success of our enforcement cases.

Publishing the outcomes of our enforcement activity to help improve standards and drive good member outcomes.