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13 Organisation Penalty Committee The Penalty Committee is convened if a sanction has to be imposed upon a trading participant or, for example, in the case of a request in writing by the Exchange Supervisory Authority (see page 25). Standard members of the Penalty Committee may also consist of trading parti- cipants, except for the two chairmen of the committee. The chairmen have to have passed the First and the Second German Judicial State Examinations and must not be connected to Börse Berlin AG, BSX or any of its trading participants. If a trading participant or a person working for the trading participant violates stock exchange rules, the Penalty Committee is allowed to • censure the trading participant in question • impose a fine of up to P 250,000 • ban the trading participant from trading for up to 30 trading days If the Penalty Committee reveals facts that justify the cancellation of admission for the trading participant in question, BSX’s Management Board takes over. Minutes of the trial – which is not open to the public – and the decision of the penalty committee are transmitted to the Exchange Supervisory Authority. Penalty Committee Detailed information on the Penalty Committee can be found in the German Stock Exchange Act (BörsG), Sec. 22. ClearingMonitoringMarketModelAdmissionOrganisation

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