Markets in Financial Instruments and Miscellaneous Provisions Act 2007
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Penalties for conviction on indictment of Irish investment services law. |
5.— (1) In this section, “ the Regulations ” means the European Communities (Markets in Financial Instruments) Regulations 2007 ( S.I. No. 60 of 2007 ). | |
(2) A person is guilty of an offence if the person— | ||
(a) fails to discharge a duty to which the person is subject under Regulation 40(1), 109(6) or 112(1) of the Regulations, or | ||
(b) contravenes Regulation 7(1), 19, 52, 152(1), 159, 165(15), 165(16), 165(17), or 185(2) of the Regulations. | ||
(3) A person guilty of an offence under subsection (2) is liable on conviction on indictment to a fine not exceeding €10,000,000 or imprisonment for a term not exceeding 10 years or both. | ||
(4) This section is without prejudice to— | ||
(a) any penalty provided by Irish investment services law in respect of a summary conviction for an offence, and | ||
(b) the ability to bring and prosecute summary proceedings for any offence under Irish investment services law. | ||
(5) This section comes into operation on 1 November 2007. |