The Commission uses its powers to impose administrative penalties, independently of any criminal penalties that may be imposed.
There are several different levels of penalties that the CCAF is able to impose on an authorised firm, depending on the seriousness of the offences. They range from a simple warning, to a reprimand, temporary suspension of authorisation for six months or longer, or even permanent withdrawal of authorisation.
All penalty proceedings are based on respect for the rights of the defence, and in particular the adversarial principle, with all parties entitled to the right to a fair hearing.
Decisions to suspend or withdraw authorisation are systematically published in the Journal de Monaco and on this website.