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Status: You are viewing the version of the handbook as on 2005-06-30.

ENF 9.3 The FSA's general approach

ENF 9.3.1G

The FSA will consider exercising its powers to obtain restitution in the light of the facts of each case. When deciding whether to exercise these powers, the FSA will also consider other ways that persons might obtain redress, and whether it would be more efficient or cost-effective for them to use these means instead. The FSA will also consider any proposals by the person concerned to offer redress to any consumers or other persons who have suffered loss, and the adequacy of those proposals, before exercising its powers.

ENF 9.3.2G

The number of instances in which the FSA might consider using its powers to obtain restitution for market counterparties are likely to be limited. Many of the rules which apply to retail consumers will not be relevant to transactions between market counterparties. Transactions between firms classified as market counterparties will be subject to the FSA's Inter-professional Conduct (see MAR 3).