22B. The Commission, in considering the amount of the financial sanction to be imposed under section 22A, shall take into account the circumstances of the contravention under section 18(f) or of section 22(1) and, without prejudice to the generality of the foregoing, may have regard to:

(a) the need to ensure that any sanction imposed—

(i) is appropriate and proportionate to the contravention concerned, and

(ii) if applicable, will act as a sufficient incentive to ensure that any like contravention will not occur in the future;

(b) the gravity and duration of the contravention concerned;

(c) the extent of any failure by the person to cooperate with the investigation concerning that person;

(d) any excuse or explanation given by the person for the contravention concerned or failure to cooperate with the investigation concerned;

(e) the repeated occurrence of the contravention concerned by the person;

(f) if applicable, the continuation of the contravention concerned after the person was notified of the investigation concerned;

(g) if applicable, the extent and timeliness of any steps taken to end the improper conduct and any steps taken to remedy the consequences of the contravention concerned;

(h) any precedents set by a court or the Commission in respect of a previous like contravention.]