Regulatory Alerts2018-04-18
Added · Updated
Examples of Mitigating and Aggravating Circumstances for Fines and Penalties
The document outlines specific factors considered when adjusting administrative fines and penalties under the flexible system, including the gravity or duration of non-compliance, the degree of culpability, repetition of the offence, the non-compliant party's size, measures taken to prevent recurrence, and the party's ability to pay. These criteria are detailed in the Decree on Administrative Fines in the Financial Sector and DNB's fine and penalty amounts policy. For instance, the size of the entity may reduce a fine, while repeated non-compliance increases it, and factors like culpability can either mitigate or aggravate the penalty depending on the context.
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