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S.L. 330.10 · Malta Financial Services Authority Act (S.L. 330.10)

S.L. 330.10 Art. 7Exercise of supervisory functions and imposition of penalties and other measures. 

Title III of the Benchmarks Regulation, require an administrator

In KraftAmtlicher Text

When determining the type and level of administrative penalty and other administrative measures, the competent authority shall take into account all relevant circumstances, including where appropriate:

(a) the gravity and duration of the infringement;

(b) the criticality of the benchmark to financial stability and the real economy;

(c) the degree of responsibility of the responsible person;

(d) the financial strength of the responsible person, as indicated, in particular, by the total annual turnover of the responsible legal person or the annual income of the responsible natural person;

(e) the level of profits gained or losses avoided by the responsible person, insofar as they can be determined;

(f) the level of cooperation of the responsible person with the competent authority, without prejudice to the need to ensure disgorgement of profits or losses avoided by that person;

(g) previous infringements by the person concerned;

(h) measures taken, after the infringement, by a responsible person to prevent the repetition of the infringement

Änderungsgeschichte
  • Amended by L.N.185 of 2018