S.L. 370.40 Art. 5Administrative penalties and other administrative measures for breaches of MiFID and MiFIR.

(1) The competent authority shall exercise its supervisory powers and its powers to take and impose at least the following administrative penalties and measures:

(a) a public statement which indicates the natural or legal person and the nature of the infringement; S.L.370.40 MEASURES AND INVESTIGATORY POWERS) [

(b) an order requiring the natural or legal person to cease the conduct and to desist from a repetition of that conduct;

(c) in the case of a Maltese investment firm authorized in Malta, withdrawal or suspension of the relative licence or authorisation in accordance with the provisions of the Investment Services Act and the regulations issued thereunder;

(d) a temporary ban on any Maltese investment firm being a member of or participant in regulated markets or MTFs or any client of OTFs;

(e) in the case of a legal person, maximum administrative fines of up to five million euro (€5,000,000), or 10% of the total annual turnover of the legal person according to the last available accounts approved by the management body:

Provided that where the legal person is a parent undertaking or a subsidiary of the parent undertaking which has to prepare consolidated financial accounts in accordance with Directive 2013/34/EU of the European Parliament and of the Council, the relevant total annual turnover shall be the total annual turnover or the corresponding type of income in accordance with the relevant Union law in the area of accounting, according to the last available consolidated accounts approved by the management body of the ultimate parent undertaking;

(f) in the case of a natural person, maximum administrative fines of up to five million euro (€5,000,000);

(g) maximum administrative fines of up to twice the amount of the benefit derived from the infringement where that benefit can be determined, even if that exceeds the maximum amounts specified in paragraphs (e) and (f) above.

(h) in the case of an APA or ARM which has a derogation in accordance with Article 2(3) of MiFIR, withdrawal and suspension of the authorisation in accordance with Article 27e of MiFIR.