S.L. 330.9 Art. 117Effective application of penalties and measures and exercise of powers to impose penalties and measures.

When determining the type of administrative penalties or other administrative measures and the level of administrative pecuniary penalties, the Authority and, or the Resolution

Committee, as the case may be, shall take into account all relevant circumstances, including, where appropriate:

(a) the gravity and the duration of the breach;

(b) the degree of responsibility of the natural or legal person responsible for the breach;

(c) the financial strength of the natural or legal person responsible for the breach, for example as indicated by the total turnover of the responsible legal person or the annual income of the responsible natural person;

(d) the amount of profits gained or losses avoided by the natural or legal person responsible, insofar as they can be determined;

(e) the losses for third parties caused by the breach, insofar as they can be determined;

(f) the level of cooperation of the natural or legal person responsible with the Authority and the Resolution Committee;

(g) previous breaches by the natural or legal person responsible;

(h) any potential systemic consequences of the breach.