9 Enforcement Powers
Past version: effective from 31/12/2030 - 30/12/2030
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(1) If the Regulator considers that a person has engaged in Market Abuse it may impose a range of different sanctions under Part 19 of the FSMR, such as:
(a) issuing the person with a private warning;
(b) censuring the person;
(c) fining the person such amount as it considers appropriate;
(d) suspending any Financial Services Permission which the person has to carry on a Regulated Activity;
(e) imposing such limitations or other restrictions in relation to the carrying on of a Regulated Activity by the person; and
(f) issuing a Prohibition Order.
(2) The Regulator may also decide to take other types of action under against a person whom it considers has engaged in Market Abuse such as:
(a) taking action in respect of a Financial Services Permission held by the person;
(b) restricting the person from performing any functions connected with Regulated Activities in or from the ADGM; or
(c) applying to the Court for an order against the person.
(3) In exercising its powers, the Regulator may also take into account all relevant circumstances, including, where appropriate:
(a) the gravity and duration of the breach;
(b) the degree of responsibility of the person responsible for the breach;
(c) the financial strength of the person responsible for the breach;
(d) the importance of the profits gained or losses avoided by the person responsible for the breach, insofar as such values can be determined;
(e) the level of cooperation of the person responsible for the breach with the Regulator;
(f) any previous breaches by the person responsible for the breach; and
(g) measures taken by the person responsible for the breach to prevent its reoccurrence.
(4) For the purposes of identifying Market Abuse, investors are free to report orders and transactions relating to Financial Instruments, including any cancellation or modification thereof, that could constitute Insider Dealing, market manipulation or attempted Insider Dealing or market manipulation, to the Regulator.
(5) Further information about the Regulator's enforcement powers and decision- making procedures can be found in Part 19 of the FSMR.