Article 78 Administrative penalties 1. A person who commits an infringement shall be liable: a) In the case of a natural person, to an administrative penalty not exceeding $50,000 (fifty thousand United States dollars) and, in the case of a continuing infringement, to a mandatory pecuniary penalty not exceeding $150 (one hundred fifty United States dollars) for every day during which the infringement continues after the Authority determines that the person has committed an infringement pursuant to paragraph 1 of the preceding article. b) In the case of a corporate body or legal entity, to an administrative penalty not exceeding: (i) $2,000,000 (two million United States dollars) in the case of a contravention of or failure to comply with any of the provisions under Chapters VI, VII, VIII and IX of the present Decree-Law and any regulatory measures issued under those provisions and, in the case of a continuing infringement, to a mandatory pecuniary penalty not exceeding $5,000 (five thousand United States dollars) for every day during which the infringement continues after the Authority determines that the person has committed an infringement pursuant to paragraph 1 of the preceding article; or (ii) $250,000 (two hundred thousand US dollars) in the case of all other infringements of the present Decree-Law and regulatory measures issued thereunder and, in the case of a continuing infringement, to a mandatory pecuniary penalty not exceeding $500 (five hundred US dollars) for every day during which the infringement continues after the Authority determines that the person has committed an infringement pursuant to paragraph (1) of the preceding article. 2. The amount of an administrative penalty to be imposed on any person pursuant to this article shall be set, taking into account: a) The gravity of the infringement and the harm inflicted; b) The frequency and duration of the conduct constituting the infringement; c) The financial position of the person who has committed the infringement; and d) Whether any compensation has been paid to any affected party.

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