J. Enforcement
| 1. | VASPs which fail to comply with Rules in this Part III of the Compliance and Risk Management Rulebook may be subject to enforcement actions taken by VARA or other penalties as set out in the Regulations and Federal AML-CFT Laws. |
| 2. | Enforcement action(s) taken by VARA for a VASP's failure to comply with the Rules in this Part III of the Compliance and Risk Management Rulebook may be taken directly against the VASP, its directors, Responsible Individuals, MLRO and/or Senior Management. |