OFSI publishes updated Financial Sanctions Enforcement and Monetary Penalties Guidance, streamlining compliance, penalty, and appeal processes while boosting transparency and deterring future breaches

Key proposals included introducing a new case assessment framework, clearer guidance on how cases are evaluated, enhanced penalty discount schemes for voluntary disclosure and cooperation, a civil settlement scheme to resolve cases more efficiently, an Early Account Scheme (EAS) for subjects to provide full factual accounts early in investigations, streamlined processes with indicative penalties…