Malta Financial Services Authority Act (Cap. 330), article 20D

20D. (1) The Minister, acting on the advice of the Resolution Authority, may make regulations for the following purposes: (a) to transpose, implement, and, or give effect to the requirements of the BRRD ; (b) to better implement the provisions of the First Schedule; (c) to provide for powers and functions of the Resolution Committee; (d) to establish and impose administrative penalties and other administrative measures on institutions or others as may be spec ified therein; (e) to prescribe that a breach of any regulations made under this Act may amount to a criminal offence as may be specified, and for this purpose such regulations may impose punishments in respect of any breach, not exceeding a fine ( multa ) of two million euro (€2,000,000) or imprisonmen t for a term not exceeding three years, or both such fine and imprisonment. (2) Where regulations have been made in terms of this article, the Authority, through the Resolution Committee, may issue Recovery and Resolution Rules within the meaning of article 7C for the better carrying out of, and to better implement, the provisions of the regulations. Transparency of securities financing transactions and of re-use, and benchmarks. Added by: XXXI. 2017.9.