The Disciplinary Board may, being satisfied that a Violation has been committed, issue any of the following penalties: 1. Cautioning the Violator to discontinue the Violation. 2. Issuing a warning. 3. Requiring the Violator to re-pass the pre-qualification tests. 4. Suspending his or its activities for a period not exceeding one year. 5. Suspending him from practicing his work or profession permanently. 6. Suspending a license for a period not exceeding six months. 7. Revoking a license. 8. Imposing restrictions on the Activity or the Activities of the Violator in accordance with the provisions of Article (5-12). 9. Cancelling the voting, proxy or authority obtained by the Violation under the provisions of the Law. 10. Suspending or cancelling any acquisition offer or purchase transaction outside the scope of the acquisition offer if in Violation of the provisions of Chapter Seven of the Law or Bylaws. 11. Prohibiting the exercise of voting rights for a period not exceeding three years for a shareholder who failed to submit any statement or who submitted an incomplete statement or one contrary to the truth or in violation with the Law or these Bylaws. 12. Suspending the validity of an applicable prospectus according to the provisions of the Law. 13. Ceasing the trading of a Security temporarily, suspending, or cancelling a decision to list a Security before the effective date thereof. 14. Dismissing a Member of the Board of Directors, or a manager of one of the Licensed Companies, or Listed Companies or an Investment Controller or a Custodian of a Collective Investment Scheme who failed to perform his duties as provided in the Law and Bylaws. 15. Imposing financial penalties in accordance with the nature of the Violation, not exceeding fifty thousand Kuwaiti Dinars.