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Article 23

IA-BOD-RES 15/2013 Effective from 9/10/2013

In case the Insurance Broker's employees violate the Law, regulations, instructions, resolutions or circulars issued thereunder, the IA may impose the following penalties:

  1. Warning;
     
  2. Suspension from practicing the activity for a maximum period of two months;
     
  3. Cancellation of the accreditation in case of excessive breach of the Law, regulations, instructions, resolutions or circulars issued by the IA.