Regulatory Alerts2022-02-22
Added · Updated
Definition of 'Flexible System' for Administrative Fines
The flexible system allows statutory baseline fine amounts to be increased or reduced based on specific case circumstances. Relevant factors include the gravity or duration of non-compliance, the degree of culpability, repetition of the offence, the non-compliant party's size, preventive measures taken, ability to pay, and other special circumstances. These details are further specified in the Decree on Administrative Fines in the Financial Sector and DNB's fine and penalty amounts policy.
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