the relevant factors on decisions to take action set out in DEPP 6.2.1 G;
whether any contractual or other arrangements agreed between the parties can be used effectively to address any perceived failure under the RCB Regulations; and
the interests of investors in the relevant regulated covered bond.
The FCA does not normally expect to use its enforcement powers where the issuer or the owner are in the process of rectifying non-compliance and where they have taken account of the views and interests of investors in the regulated covered bond. This is without prejudice to the FCA's use of its enforcement powers as a result of its consideration of all relevant factors, as set out in RCB 4.2.3 G (1).
the likely impact of the penalty on the interests of investors in a regulated covered bond; and