S.L. 370.41 Art. 6Administrative penalties, other administrative measures and appeals. L.N. 392. L.N. 401. Cap. 330.

(1) Where a person licensed or authorized in Malta, and falling within the scope of MIFIR, fails to comply with any provisions of that Regulation or of any Investment Services Rules and, or Conduct of Business Rules, and, or Financial Markets Rules and, or regulations implementing MIFIR, the competent authority may, by notice in writing and without recourse to a court hearing, impose on such person an administrative penalty and other administrative measures in accordance with the provisions of the Financial Markets Act (MiFID and MiFIR Administrative Penalties, Measures and

Investigatory Powers) Regulations, 2017 or the Investment Services Act and Banking Act (MiFID and MiFIR Administrative Penalties,

Measures and Investigatory Powers) Regulations, 2017.

(2) A right of appeal to the Financial Services Tribunal shall lie from the decisions which the competent authority shall take under these regulations and the provisions of article 21 of the Malta Financial Services Authority Act shall apply mutatis mutandis.