FHDDS51735 | Penalties, sanctions and offences: penalties – policy: Trading without approval - Notice of liability

When assessing a penalty for a deliberate trading without approval you must notify each liable officer about their individual liability to pay all or part of the penalty, following the guidance at CH406300.

The procedures and safeguards for penalties for trading without approval apply to a liable officer in the same way as they apply to the company, see CH406000.

A liable officer can therefore appeal against:

· your decision to pursue them for all or part of the penalty assessed on the company, and

· the amount of the penalty you have allocated to them.

However, they cannot specifically appeal against your decision that they have gained or attempted to gain personally from the deliberate contravention.

The liable officers do not individually have the right to appeal against the amount of the penalty assessed on the company. This can only be appealed by the company or the administrator/insolvency practitioner (if the company is subject to such a procedure).

You will find detailed guidance about the review process that applies to appealable decisions in the Appeals, Reviews and Tribunals Guide (ARTG).