S.L. 370.25 Art. 8Exchange of information on penalties.

(1) Subject to the professional secrecy requirements referred to in the article 26 of the Act, the competent authority shall inform the EBA of all administrative penalties and sanctions it imposes under these regulations, including all permanent prohibitions imposed under regulations 4 and 6. It shall also provide information regarding any appeal in relation thereto and the outcome therefrom for the purpose of publication on the EBA database of sanctions which the competent authority shall consult where appropriate in the carrying out of its functions and duties.

(2) In the event of a change of status or a successful appeal from a penalty imposed by the competent authority in terms of these regulations, the competent authority shall request the EBA to delete or update the relevant entries in the database held by the EBA in terms of Article 69 of the CRD.

(3) Where the competent authority assesses good repute for the purposes of the Investment Services Rules transposing the requirements of Articles 91(1) and 121 of the CRD, it shall consult the EBA database of administrative penalties: Provided that the competent authority shall check, the existence of a relevant conviction in the criminal record of the person concerned. For these purposes, information shall be exchanged in accordance with Decision 2009/316/JHA and Framework Decision 2009/315/JHA.