Legislation – Data (Use and Access) Act 2025

to set the amount or maximum amount of, or of an increase in, a penalty imposed in respect of failure to comply with a requirement imposed by the FCA in exercise of a power conferred by regulations under section 14 (whether imposed by means of FCA interface rules or an FCA additional requirement), or

to set the method for determining such an amount.

must require the FCA to produce and publish a statement of its policy with respect to the amount of the penalties;

may require the policy to include specified matters;

may make provision about the procedure for producing the statement;

may require copies of the statement to be provided to specified persons;

may require the FCA to have regard to a statement published in accordance with the regulations.

impose, or provide for the FCA to impose, a levy on data holders or third party recipients for the purpose of meeting expenses incurred, or to be incurred, during a period by the FCA, or by a person acting on the FCA’s behalf, in performing duties, or exercising powers, imposed or conferred on the FCA by regulations under section 14, and

make provision about what must or may be done with funds raised by means of the levy.

make provision about how the rate of the levy is to be determined;

make provision about how the period in respect of which the levy is payable is to be determined;

require the FCA to publish information about the rate, the period and how they are determined.

interest on any unpaid amounts payable by way of a levy;

the recovery of such unpaid amounts.