Penalty Policy in relation to relevant Letting Agency Legislation
Appendix 9: financial penalty in the case of breach of in respect of transparency requirements of membership of a client money protection scheme (Regulation 4)
The tables gives the starting points, minimum and maximum financial penalties for each harm category and level of culpability. Where exceptional circumstances apply SBC may reduce the minimum penalties further but may not increase them above the maximum permitted level of £5,000.
Low culpability
| Harm category number | Starting point | Minimum | Maximum |
|---|---|---|---|
Harm category 3 | 1,250 | 250 | 2,250 |
Harm category 2 | 1,500 | 500 | 2,500 |
Harm category 1 | 1,750 | 750 | 2,750 |
Medium culpability
| Harm category number | Starting point | Minimum | Maximum |
|---|---|---|---|
Harm category 3 | 2,000 | 1,000 | 3,000 |
Harm category 2 | 2,250 | 1,250 | 3,250 |
Harm category 1 | 2,500 | 1,500 | 3,500 |
High culpability
| Harm category number | Starting point | Minimum | Maximum |
|---|---|---|---|
Harm category 3 | 2,750 | 1,750 | 3,750 |
Harm category 2 | 3,000 | 2,000 | 4,000 |
Harm category 1 | 3,250 | 2,250 | 4,250 |
Very high culpability
| Harm category number | Starting point | Minimum | Maximum |
|---|---|---|---|
Harm category 3 | 3,500 | 2,500 | 4,500 |
Harm category 2 | 3,750 | 2,750 | 4,750 |
Harm category 1 | 4,000 | 3,000 | 5,000 |
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