S.L. 330.16 Art. 10Publication of the decisions of the competent authority.

(1) The competent authority shall publish any decision imposing an administrative penalty or other measure for breaches of the provisions of the Act, any regulations issued thereunder, any Rules issued by the competent authority and the PEPP Regulation on its website, without undue delay after the person on whom the penalty or measure was imposed was informed of that decision. The publication referred to in this sub-regulation shall include information on the type and nature of the breach and the identity of the persons responsible and the administrative penalties or other measures imposed.

(2) Where the publication of the identity of the legal persons, or the personal data of natural persons is considered by the competent authority to be disproportionate following a case-by-case assessment, or where the competent authority considers that the publication jeopardises the stability of financial markets or an on-going investigation, the competent authority shall either:

(a) defer the publication of the decision imposing the administrative penalty or other measure until the reasons for non-publication cease to exist;

(b) publish the decision to impose the administrative penalty or other measure, omitting for a reasonable period of time the identity and personal data of the addressee, if it is envisaged that within that period the reasons for anonymous publication shall cease to exist and provided that such anonymous publication ensures an effective protection of the personal data concerned; or

(c) not publish at all the decision to impose the administrative penalty or other measure in the event that the options set out in points (a) and (b) are considered to be insufficient to ensure:

(i) that the stability of financial markets would not be put in jeopardy; or EUROPEAN PERSONAL PENSION PRODUCT (PEPP))

(ii) the proportionality of the publication of such decisions with regard to measures which are deemed to be of a minor nature.

(3) In the case of a decision to publish an administrative penalty or other measure on an anonymous basis as referred to in sub-regulation (2)(b), the publication of the relevant data may be postponed.

(4) Where a decision imposing an administrative penalty or other measure is subject to an appeal before the relevant judicial authorities, the competent authority shall also publish immediately on its website such information and any subsequent information on the outcome of such appeal. Any judicial decision annulling a decision imposing an administrative penalty or other measure shall also be published.

(5) The competent authority shall ensure that any publication in accordance with this regulation shall remain on its official website for at least five (5) years after its publication:

Provided that personal data contained in the publication shall be kept on the official website of the competent authority only for the period which is necessary in accordance with the applicable data protection legislation.