1. Subject to paragraph 4 of this Article, Member States shall ensure that competent authorities publish any decision imposing an administrative sanction or other administrative measure in relation to infringements of Article 4 or 15 on their website immediately after the person subject to that decision has been informed of that decision.
2. The information published pursuant to paragraph 1 shall specify at least the type and nature of the infringement and the identity of the person subject to the decision.
3. Paragraphs 1 and 2 shall not apply to decisions imposing measures that are of an investigatory nature.
Where a competent authority considers, following a case-by-case assessment, that the publication of the identity of the legal person subject to the decision, or the personal data of a natural person, would be disproportionate, or where such publication would jeopardise an ongoing investigation or the stability of the financial markets, it shall do one of the following: