Companies Act 2014 section 1508

Publication of relevant sanction imposed on specified person, etc.

Section 1508 requires the Supervisory Authority to publish on its website details of sanctions imposed on statutory auditors or audit firms, including the contravention, the sanction, and the identity of the person sanctioned, while providing for anonymous publication in certain circumstances.

• The Supervisory Authority must publish on its website the details of any relevant sanction imposed on a specified person as soon as practicable after the decision has been confirmed by the High Court or a different sanction has been imposed by the High Court on appeal.
• Where there is a further appeal from the High Court decision, the Authority must also publish details of the status or outcome of that appeal on its website as soon as it considers appropriate.
• The Authority may publish the sanction details on an anonymous basis where naming the individual would be disproportionate in terms of personal data, where publication would jeopardise financial market stability or an ongoing criminal investigation, or where it would cause disproportionate damage to the person concerned.
• Any details published on the Authority's website, whether identified or anonymous, must remain available on the website for a minimum of five years.