MLR1PP10150 - Penalty Guidance: Simplified matrix for failure to notify penalties

Mistakes and misunderstanding

• No penalty when disclosed without prompting

Failure to take reasonable steps

• 70% reduction for first penalty
• 50% reduction for second penalty
• 30% reduction for third penalty
• A further 30% reduction for full unprompted disclosure or 20% for prompted disclosure

Deliberate failure

• No initial reduction but -
• A 30% reduction for full unprompted disclosure or 20% for prompted disclosure

When these reductions are applied to the starting penalty of £5,000 for registration breaches they will result in a more limited range of penalties than those generated when there is a variable starting penalty.

Details of the full range of registration penalties can be found in MLR1PP14700