S.L. 370.4 Art. 15Administrative penalties.

(1) Without prejudice to civil or criminal sanctions imposed under any other law, the competent authority may impose administrative penalties within the meaning of article 6 of the Act where the competent authority is satisfied that a scheme’s conduct amounts to a breach of any provision of the Act, regulations or rules issued thereunder to implement the provisions of the Directive.

(2) The competent authority may disclose to the public every measure or sanction that has been imposed for infringement of the provisions adopted pursuant to the Directive unless:

(a) the disclosure would seriously jeopardise the financial markets; or

(b) cause disproportionate damage to the parties involved.