S.L. 345.31 Art. 7Administrative penalties.

Where a person engaged in short selling and, or who trades in credit default swaps contravenes or fails to comply with any provisions of the EU Regulation, these regulations and any Financial Markets Rules issued thereunder, the competent authority may, by notice in writing and without recourse to a court hearing, impose on such person an administrative penalty not exceeding one hundred and fifty thousand euro (€150,000).