S.L. 330.18 Art. 7Administrative penalties and measures.

(1) Without prejudice to the powers of the Authority under the Act or any other law and to any criminal sanctions which may be imposed on PRIIP manufacturers and persons advising on, or selling, PRIIPs, the Authority shall impose administrative penalties and measures for breaches of the provisions of the Act or regulations or Rules made thereunder implementing the provisions of the PRIIPs Regulation, and in respect of infringements covered by the PRIIPs Regulation, and shall take all necessary measures to ensure that such administrative penalties and measures are implemented.

(2) The administrative penalties and measures taken pursuant to sub-regulation (1) shall be effective, proportionate and dissuasive.