Authority: IC 28-1-20-4; IC 28-11-1-12

Affected: IC 28-1; IC 28-11

Sec. 5. The amount of a civil penalty described in section 4 of this rule may be adjusted downward to reflect mitigating factors. The existence or nonexistence of any factor is not determinative. Factors that may be considered are as follows:

1. (1) The appropriateness of the civil penalty with respect to the financial resources and good faith of a person or an individual charged.
2. (2) Existence of written policies governing the conduct.
3. (3) Cooperation with the department in addressing the violation.
4. (4) A person's history of compliance.
5. (5) Remedial or corrective action taken by a person.
6. (6) Whether the violation was voluntarily disclosed to the department.
7. (7) Evidence of restitution paid.
8. (8) Other factors that justice requires.

(Department of Financial Institutions; 750 IAC 10-2-5; filed Mar 26, 2024, 11:00 a.m.: 20240424-IR- 750230837FRA)