S.L. 370.48 Art. 6Penalties. 

Where an investment firm is found by the competent authority to have committed any of the breaches referred to in regulation 5, the administrative penalties and other administrative measures which the competent authority may impose shall include at least the following:

(a) a public statement which identifies the natural or legal person, investment firm, financial holding company or mixed financial holding company and the nature of the breach;

(b) an order requiring the natural or legal person responsible to cease the conduct and to desist from repeating that conduct;

(c) the withdrawal of the investment firm’s investment services licence, in accordance with article 7 of the Act;

(d) subject to the provisions of regulation 4(3), a temporary ban against a member of the investment firm’s management body or any other natural person, who is held responsible, from exercising functions within investment firms;

(e) in the case of a legal person, administrative penalties of up to 10% of the total annual net turnover including the gross income consisting of interest receivable and similar income, income from shares and other variable or fixed-yield securities, and commissions or fees of that legal person in the preceding business year:

Provided that, where the investment firm subject to the administrative penalty is a subsidiary of a parent undertaking, the relevant gross income shall be the gross income resulting from the consolidated account of the ultimate parent undertaking in the preceding business year;

(f) in the case of a legal person, administrative penalties of up to twice the amount of the profits gained or losses avoided due to the breach where those profits or losses can be determined; and

(g) in the case of a natural person, administrative penalties of up to EUR 5,000,000. (ADMINISTRATIVE PENALTIES, MEASURES 370.48 AND INVESTIGATORY POWERS)