HMT consults on proposed reforms to toughen OFSI enforcement with a Case Assessment Matrix, stricter discounts, new settlement tools, and fines up to £2M or 100% of breach value – open until 13 Oct 2025

Key proposals include a new Case Assessment Matrix to better link breach severity with penalties; introducing an Early Account Scheme offering up to 40% penalty discounts for early cooperation; capping voluntary disclosure discounts at 30%; and adding a settlement...