S.L. 373.1 Art. 24Communication of administrative penalties and measures to supervisory authorities. 

(1) When the Financial Intelligence Analysis Unit exercises its powers under regulations 21 to 23 it:

(a) shall inform in a timely manner the relevant supervisory authority or any other authority, body or committee responsible for the authorisation, licensing, registration or regulation of, or the granting of a warrant to the subject person or individual concerned and shall provide all relevant information on the contraventions committed as it deems necessary;

(b) may also recommend to any relevant supervisory authority or any other authority, body or committee responsible for the authorisation, licensing, registration or regulation of, or the granting of a warrant to, the subject person or individual concerned, the taking of regulatory or other measures, pertaining to the said authority, body or committee under applicable law, against such subject person or individual concerned as referred to in regulation 21(5) including:

(i) the restriction, limitation, suspension, withdrawal or cancellation of any such licence, registration, warrant or any other form of authorisation allowing the subject person to carry out one or more specific activities; and, or

(ii) the suspension or preclusion of any individual as is referred to in regulation 21(5) from exercising the functions in respect of which he is authorised within that subject person or any other subject

*Vide Regulation 6(3) of Legal Notice 82 of 2026. person, as it may deem appropriate in the circumstances of the case:

Provided that the Financial Intelligence Analysis Unit may also make a recommendation instead of imposing an administrative penalty or measure.

(2) The provisions of these regulations shall be without prejudice to the powers of a supervisory authority or any other authority, body or committee responsible for the authorisation, licensing, registration, regulation or the granting of a warrant to a subject person, to take any action or regulatory measure available to it under applicable law as it may deem appropriate in the circumstances of the case.