the imposition of financial penalties under CER Rule 4.2; and the amount of penalties under CER Rule 4.2. The QFCA's policy in determining the amount of a financial penalty must include a requirement to have regard to: the seriousness of the contravention in question in relation to the nature of the requirement contravened; the extent to which that contravention was deliberate or reckless; whether the Person on whom the penalty is to be imposed is an individual; and the effect on third parties, Clients or Customers and the best interests of the Financial System and the QFC. The QFCA may at any time alter or replace a statement issued under this CER Rule. If a statement published under this CER Rule is altered or replaced, the QFCA must publish the altered or replacement statement. CONTRAVENTIONS For the purposes of these CER Rules a Licensed or Authorised Firm contravenes a Relevant Requirement if it: fails to comply with any prohibition or requirement imposed on it by the QFCA or any undertaking given by him to the QFCA; does any act or thing that is prohibited under or breaches a Relevant Requirement; omits to do any act or thing that it is required to do under a Relevant Requirement;
the imposition of financial penalties under CER Rule 4.2; and the amount of penalties under CER Rule 4.2. The QFCA's policy in determining the amount of a financial penalty must include a requirement to have regard to: the seriousness of the contravention in question in relation to the nature of the requirement contravened; the extent to which that contravention was deliberate or reckless; whether the Person on whom the penalty is to be imposed is an individual; and the effect on third parties, Clients or Customers and the best interests of the Financial System and the QFC. The QFCA may at any time alter or replace a statement issued under this CER Rule. If a statement published under this CER Rule is altered or replaced, the QFCA must publish the altered or replacement statement. CONTRAVENTIONS For the purposes of these CER Rules a Licensed or Authorised Firm contravenes a Relevant Requirement if it: fails to comply with any prohibition or requirement imposed on it by the QFCA or any undertaking given by him to the QFCA; does any act or thing that is prohibited under or breaches a Relevant Requirement; omits to do any act or thing that it is required to do under a Relevant Requirement;