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Recital 28

Recital 28

(28)Part 8, Subpart 3, of the FMC Act sets out related powers of the Court to impose pecuniary penalties against a person upon application of the FMA, and to make compensatory orders, for the breach of the civil liability provisions (which include those provisions that are Part 6 services provisions) of the FMC Act. The FMA can also apply to the Court for ‘banning orders’ under Section 517 of the FMC Act. Those banning orders can ban a person from being a director or promoter of an entity, or in any way being involved in its management, including as a benchmark administrator.

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