15J. FACTORS TO BE TAKEN INTO ACCOUNT BY THE ADJUDICATING OFFICER.
While adjudging quantum of penalty under section 15-I, the adjudicating officer shall have due regard to the following factors, namely :-
(a) the amount of disproportionate gain or unfair advantage, wherever quantifiable, made as a result of the default;
(b) the amount of loss caused to an investor or group of investors as a result of the default;
(c) the repetitive nature of the default.