S.L. 330.7 Art. 24Failure to comply with regulations.

(1) A supplier, licensed or otherwise authorised to offer a financial service by the competent authority, shall be liable to an administrative penalty in terms of regulation 25 if the supplier, or the manager, secretary, director or other person responsible for the supplier’s activity -

(a) is responsible for behaviour specifically referred to in regulations 10(3) and (4) or 11(3);

(b) fails to observe any other provision in these regulations;

(c) fails to comply with a compliance order issued under these regulations; or

(d) refuses or fails to furnish information as required under these regulations or else provides false or misleading information.

(2) A supplier, licensed or otherwise authorised to offer a financial service by the competent authority, shall be liable to an administrative penalty if such supplier -

(a) wilfully obstructs, assaults, threatens, resists or interferes with the competent authority or a public officer in the exercise of its duties under these regulations or attempts so to do; or

(b) uses threatening, abusive or insulting language to the representatives of the competent authority or a public officer in the course of duties delegated pursuant to the provisions of regulation 21.