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For breach of duties the Office has the right to impose on Securities Dealers sanctions,
including forced administration, penalties up to SKK 20 million, or revocation of the approval
for certain investment services.
In addition, the Office has a sanction power towards issuers of securities and offerors of
bids.
In case of breach of duties, the Office is entitled to impose a penalty on members of
statutory or supervisory bodies of Securities Dealers or the Central Depository, on directors
and vice-directors of Branches, on employees responsible for internal audit or managers of
Securities Dealers or the Central Depository and on certain other responsible persons. This
penalty amounts up to 12-multiple of the total average monthly income of such persons obtained
from Securities Dealers (or from persons which paid the income).
Last modified: 2003-03-01
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